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B.O.S. Better Online Solutions reports Q2 sales of $10.4M; stock soars

What a day for B.O.S Better Online Solutions. On a day that the overall stock market tanked because of new economic worries, the Israeli provider of RFID and supply chain solutions saw its stock soar close to 20 percent after it reported revenue of $10.4 million for the second quarter. The stock closed at $1.30, up 21 cents, after briefly soaring to $1.69.

The revenue reflects 10 percent growth over the previous quarter, and 30 percent growth as compared to the second quarter last year. Backlog was at $12.3 million.

Operating profit for the second quarter was $563,000 compared to an operating loss of $2.1 million in the comparable quarter last year. Operating profit for the first six months of 2010 totaled $778,000 compared to an operating loss of $2.4 million in the comparable six month period last year.

“For the first time in many years, we are pleased to report a net profit, as well as two consecutive quarters of operating profit,” said Yuval Viner, BOS CEO. “We are revising our original outlook for 2010: we reiterate our target of $35 million in revenues, and now believe we will end the year with net profit, not only an operating profit. We expect to make several new customer-related announcements in the near future.”

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