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YEHUD, Israel, May 24, 2021 /PRNewswire/
Magal Security Systems, Ltd. (NASDAQ: MAGS) today announced its financial results for the three months ended March 31, 2021. Management will hold an investors conference call later today (at 10 am Eastern Time) to discuss the results.
FIRST QUARTER 2021 HIGHLIGHTS:
Entered into an asset and share purchase agreement for the sale of the Integrated Solutions division to Aeronautics Ltd. for $35 million (
closing expected in June 2021), representing value of $1.51 per share; accordingly, Magal s Integrated Solutions division results are excluded from results from continuing operations.
Strong cash position of $25.9 million, or $1.12 per share, as of March 31
st 2021 with no debt.
Magal: Q1 Earnings Snapshot
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YEHUD, Israel (AP) Magal Security Systems Ltd. (MAGS) on Monday reported a first-quarter loss of $2 million, after reporting a profit in the same period a year earlier.
The Yehud, Israel-based company said it had a loss of 9 cents per share. Losses, adjusted to account for discontinued operations, were 3 cents per share.
The security and intelligence company posted revenue of $6.5 million in the period.
The company s shares closed at $4.98. A year ago, they were trading at $2.96.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MAGS at https://www.zacks.com/ap/MAGS
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Orchid Island primarily focuses on mortgage-backed securities (RMBS) with a strategy oriented towards structured agency RMBS and traditional pass-through Agency RMBS. Of the 800 funds tracked by Insider Monkey, 10 reported having stakes in the company at the end of 2020, including D E Shaw, which owns 1.15 million Orchid shares.
Orchid Island Capital announced a $0.065 per share monthly dividend for April 2021, which aligns with the company’s previously announced dividend. This puts Orchid in the list of the best high yield dividend stocks.
It has an estimated $0.34 per share GAAP net loss for the March 31 quarter. Its unrealized and net realized loss on derivative instruments and RMBS is $0.60 per share.