Wednesday, April 4, 2012

Magal Security (Nasdaq: MAGS) posts strong Q4, shares soar

Magal Security (Nasdaq: MAGS) posts strong Q4, shares soarShawshank, VA 4/4/12 (StreetBeat) -- Israel-based Magal Security Systems (Nasdaq: MAGS) posted a fourth-quarter profit, helped by strong demand across geographies, sending its shares up more than 37 percent in early morning trade.

Fourth-quarter net income attributable to shareholders rose to $4.3 million, or 27 cents a share, compared with a net loss of $1.5 million, or 14 cents per share, a year ago.

The company's revenue more than doubled to $33.7 million.

Shares of Magal Security Systems, which provides monitoring and safety solutions, were trading up at $6.08 in morning trade on Wednesday. They have nearly doubled in value in the last six months.

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