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Magal Security Systems Ltd. (MAGS) CEO Dror Sharon on Q4 2020 Results - Earnings Call Transcript

Apr. 06, 2021 2:08 PM ETSenstar Technologies Ltd. (SNT)
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Magal Security Systems Ltd. (MAGS) Q4 2020 Earnings Conference Call April 6, 2021 10:00 AM ET

Company Participants

Brett Maas - Investor Relations

Dror Sharon - Chief Executive Officer

Kobi Vinokur - Chief Financial Officer


Greetings and welcome to the Magal Security Systems Fourth Quarter and Year End 2020 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Brett Maas of Hayden IR. Thank you, sir. You may begin.

Brett Maas

Thank you, operator. I would like to welcome all of you to the conference call and thank Magal’s management for hosting this call. With us on the call today is Dror Sharon, CEO of Magal and Kobi Vinokur, CFO. Dror will summarize key financial and business highlights, followed by Kobi who will review Magal’s financial performance of the fourth quarter and full year. We will then open the call to questions and answers.

Before we start, I would like to point out that this conference call may contain projections or other forward-looking statements regarding future events or future performance of the company. These statements are only predictions and Magal cannot guarantee that they will in fact occur. Magal does not assume any obligation to update that information. Actual results or events may differ materially from those projected, including as a result of changing market trends, reduced demand and the competitive nature of the security systems industry. The unanticipated and unknown effect of the coronavirus, including on our operations and our clients as well as other risks identified in the documents filed with the company with the Securities Exchange Commission. In addition, during the course of this conference call, we will describe certain non-GAAP financial measures, which should be considered in addition to, in lieu of comparable GAAP financial measures. Please note that in our press release, we have reconciled our

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