Seeking Alpha
We cover over 5K calls/quarter
Profile| Send Message| ()  

Executives

Yuval Viner - CEO

Eyal Cohen - CFO

Analysts

None

Better Online Solutions Corporation (BOSC) Q4 2012 Results Earnings Call April 4, 2013 10:00 AM ET

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the BOSC fourth quarter 2012 results conference call. [Operator instructions.] I would like to remind everyone that this conference call may contain projections or other forward looking statements regarding future events or the future performance of the company. These statements are only predictions, and may change as time passes. BOSC does not assume any obligation to update that information.

Actual events or results may differ materially from those projected, including, as a result of changing industry and market trends, reduced demand for our products, the timely development of our new products and their adoption the market, increased competition in the industry and price reductions, as well as the other risks identified in the documents filed by the company with the SEC.

I would now like to hand over the call to Mr. Yuval Viner, CEO of the company. Go ahead, Yuval.

Yuval Viner

Thank you, and good morning to all our listeners in the U.S. and good afternoon to those who are joining us from Israel and Europe. I will start by saying that we are pleased with the fourth quarter and the year 2012 results that reflect a continued improvement in the company’s profitability.

However, our revenues for year 12 were lower by 27% than the revenues from year 11. The decrease in revenues was mostly due to the slowdown in the global economy, which caused delays in our sales of new projects and to the intensive competition. In addition, we closed down a non-profitable product line.

We were quick to react to the slowdown in revenues and cut down our labor and other expenses by more than 30%. We expect to improve our performance going forward by sending the mobile and RFID division product offering to our existing customer base. This would include the sale and [implementation] of new hardware and software to customers that already use our RFID solutions, further expanding our supply chain division to our client base in and outside of Israel.

Now, I’d like to turn over the call to Eyal Cohen.

Eyal Cohen

Thank you, Yuval. In light of [improvement] in the financial results, we were also [able] to reduce our loans by $1.7 million here in year 12 to a level of [$8.4] million. Other results [unintelligible] loans to [unintelligible] were significantly reduced in year 12 to a ratio of 13 to a ratio of 25 in year 11. We expect further reduction [of this issue] in year 13.

Actually, most of the cash flow [unintelligible] to the [unintelligible] loans. We had to raise some equity during the year that [could be] invested in development of the business.

We are very pleased with the significant increase in the volume of trading in our stock in recent [months], and the results of this strength will continue. However, we are not aware of any new shareholders who have accumulated significant amounts of [unintelligible].

This completes the financial review. Thank you.

Question-and-Answer Session

Operator

Thank you. [Operator instructions.] There are no questions at this time. Before I ask Mr. Viner to go ahead with his closing statement, I would like to remind participants that a replay of this call will be available on the company website, www.bosccorporate.com by tomorrow. Mr. Viner, would you like to make a concluding statement?

Yuval Viner

Yes. Thank you. We are continuing our day to day efforts to [unintelligible] our operation, improve our product, strengthen our financial condition, and expand our business overseas. We are confident that we will meet our challenges. Thank you all for joining us today.

Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet. (Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com. All other use is prohibited.

THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS. IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.

If you have any additional questions about our online transcripts, please contact us at: transcripts@seekingalpha.com. Thank you!

Source: Better Online Solutions Corporation's CEO Discusses Q4 2012 Results - Earnings Call Transcript
This Transcript
All Transcripts