Magal Reports That a Previously Reported $8 Million Order has Been Removed From its Backlog
2007年10月30日 - 10:00PM
PRニュース・ワイアー (英語)
YAHUD, Israel, October 30 /PRNewswire-FirstCall/ -- Magal Security
Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced that
it has been informed that the $8 million order for the installation
of security systems in Western Asia that was reported on September
10, 2007 was not duly authorized by the customer. The removal of
the order from Magal's backlog will not result in any charge to its
financial statements. About Magal Security Systems, Ltd.: Magal
Security Systems Ltd. (Magal) is engaged in the development,
manufacturing and marketing of computerized security systems, which
automatically detect, locate and identify the nature of
unauthorized intrusions. Magal also supplies video monitoring
services through Smart Interactive Systems, Inc., a subsidiary in
the U.S. The Company's products are currently used in more than 70
countries worldwide to protect national borders, airports,
correctional facilities, nuclear power stations and other sensitive
facilities from terrorism, theft and other threats. Magal trades
under the symbol MAGS in the U.S. on the Nasdaq Global Market and
in Israel on the Tel-Aviv Stock Exchange (TASE). This press release
contains forward-looking statements, which are subject to risks and
uncertainties. Such statements are based on assumptions and
expectations which may not be realized and are inherently subject
to risks and uncertainties, many of which cannot be predicted with
accuracy and some of which might not even be anticipated. Future
events and actual results, financial and otherwise, may differ from
the results discussed in the forward-looking statements. A number
of these risks and other factors that might cause differences, some
of which could be material, along with additional discussion of
forward-looking statements, are set forth in the Company's Annual
Report on Form 20-F filed with the Securities and Exchange
Commission. Contacts: Company Magal Security Systems, Ltd Raya
Asher, CFO Tel: +972-3-5391444 Fax: +972-3-5366245 E-mail: Investor
Relations Gelbart Kahana Investor Relations Ehud Helft/Kenny Green
Tel: +1-866-704-6710 E-mail: DATASOURCE: Magal Security Systems Ltd
CONTACT: Contacts:Company, Magal Security Systems, Ltd, Raya Asher,
CFO, Tel: +972-3-5391444, Fax: +972-3-5366245, E-mail: ; Investor
Relations, Gelbart Kahana Investor Relations, Ehud Helft/Kenny
Green, Tel: +1-866-704-6710, E-mail:
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