CIMdata PLM Industry Summary Online Archive
12 November 2007
Financial News
Valor Shows Strong Positive Cash Flow and Revenues of $10.6M in Q3 2007
Valor Computerized Systems announced its financial results for the period ending September 30, 2007.
Revenues in the first nine months of 2007 accumulated to $31.4 Million, an increase of 17.5% as compared to $26.7 Million in the first nine months of 2006. Revenues in the third quarter of 2007 accumulated to $10.6 Million, an increase of 15.2% as compared to $9.2 Million in the parallel period of the previous year.
The net profit in the first three quarters of 2007 accumulated to $2.2 Million, a decrease of 9% as compared to $2.4 Million in the first three quarters of 2006.
EBITDA was $1.3 Million in the third quarter of 2007 - an increase of 57% as compared to $861 thousand in the third quarter of 2006.
Positive cash flow from operating activities was $3.7 Million in Q3/07, a significant increase compared to a negative cash flow of $859 thousand in Q3/06.
Earnings per Share (diluted) in the third quarter of 2007 were $0.03, as compared to $0.04 in the third quarter of 2006
Commenting on the financial results, Dan Hoz, Valor's CFO said: "Business conditions in Q3 were in line with our expectations. We witnessed a strong positive cash flow, resulting from a robust collection of account receivables, which reflects high customer satisfaction and successful implementation of our assembly products.
" Ofer Shofman, Valor's President and CEO, also commented on the quarterly performance and said: "This was an exciting quarter for us. We signed an OEM partnership agreement with Universal Instruments Corporation, which constitutes a landmark in our cooperation with leading capital equipment vendors. The partnership agreement opens a whole new set of potential distribution channels for us and is expected to play a significant role in our continued growth. We are already working to deliver similar agreements over the next quarters."
"We have recently signed a distribution agreement with one of the largest EDA solution distributors in Europe. We expect to increase our positioning in the European design market in the near future as a result of this engagement," Added Shofman.
"This has also been a second consecutive quarter of strong results in Asia, thanks to the strong organization that we have set up there. We have penetrated a number of Taiwanese customers with our MES solutions, which provides an important foothold for us which will assist us in increasing our business in the Taiwanese market in the future," concluded Shofman.
The complete financial report can be downloaded from the Investor Relations Section on the Valor corporate website: www.valor
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