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| Statement |
|---|
| Our balance sheet has significantly strengthened over those years |
| I'm very proud of our team that has come together to work through this situation |
| So the financial results for the first 9 months of the year '23 showed significant improvement compared to the comparable 9 months of the year '22 |
| Revenues grew by 11%, EBITDA by 60% and net income by 128% and the EPS that was doubled |
| In the past several years, intense investments in new logistics centers in Israel have positively affected the RFID division's financial results |
| Our Robotic division has shown consecutive improvements year-by-year and reached a breakeven point in the last 2 quarters |
| So I think it's better -- this is -- I think this is the best way to keep the outlook |
| From a 3 years perspective, our trailing 12 months' revenues grew by 38% to $44.6 million compared to $32.2 million in year '21 |
| Our customers and suppliers are resilient and experienced in working during challenging times, and there are signs of getting back to routine |
| Our trailing 12 months' EBITDA increased by 312% to $3.3 million compared to $0.8 million in the year '21 |
| Given the fact that you're not willing to boost that, are you anticipating any problems in Q4? Or are you expecting another strong quarter given that the fourth quarter is normally the quarter that has the most revenues and earnings per share? Eyal Cohen Yes |
| We are excited to meet you again at our quarterly video meeting |
| The growth we are facing is due to implementation of various operative changes and business development that the company is implementing, especially and mainly strengthening our competitiveness by adding more brands to our existing offering, developing new markets by expanding our offering with complementary technologies and merger and acquisition |
| So all the malls are back to normal, and it's a good indication for the Israel economy that 90.7% of the market -- of the retail market come back to normal |
| That helps |
| Our shareholders' equity increased from $14.3 million in December '21 to $18.4 million in September '23 |
| Regarding outlook, our outlook for year '23, during the first 9 months of the year, we reached our annual target of net income |
| Business trends |
| Thank you for joining our call |
| Eyal Cohen Thank you |
| Statement |
|---|
| Our RFID division has faced a decrease in revenues in the first 9 months of the year compared to the first 9 months of year '22 |
| Therefore, it has suffered from a slowdown in sales processes |
| Our Supply Chain division faced intense demand from the Israeli defense market |
| However, this trend was adversely affected during year '23 by sharp increase in the interest rate and by the political tension underlining the Israeli government's attempt to pursue extensive reform to Israeli judicial system |
| First, as I mentioned, October was a tough month |
| So we have technical problem here to connect from remote |
| Even the unit that count fashion retail stores come to -- returned to work in full boost |
| And those demands are attributed to the military conflict in Europe and the Middle East |
| And because we are -- the corona issue, with all the logistic issues are behind us, I think there are no -- the lead time is shorter than we used -- than we had in previous years |
| In the current circumstances, from legal point of aspect, it's not smart to do |
| We keep it on $1.5 million because of the current circumstances in Israel |
| Cohen, I would like to remind everyone that forward-looking statements for the respective company's business, financial condition and results of its operations are subject to risks and uncertainties, which could cause actual results to differ materially from those contemplated |
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