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Valor Notes 22% Revenue Increase for First Quarter
May 10, 2005 |Estimated reading time: Less than a minute
YAVNE, Israel — Marking continued growth for the first quarter of 2005, Valor Computerized Systems exceeded its expectations with a 22% increase in revenues compared to the same quarter last year. Sales increased by 27% and maintenance revenues rose by 13% in the first quarter of 2005, reports the company.Financial statements of Q1 '05 include the adoption of the International Financial Reporting Standards (IFRS2- "Share-based Payments"), published by the International Accounting Standards Board (IASB). Valor's reported net profits before expensing share-based compensation was $823K in Q1 '05. Net profits for the same quarter came in at $631K, a 200% increase in the earnings per share, claims Valor. R&D expenses were $2.8M, an increase of 5.7% compared to the quarter last year. Valor plans to invest in developing new and existing products, including enhancing integration between the recently acquired TraceXpert and existing products. Valor Computerized Systems develops software tools based on ODB++, a data format that forms the structure of the IPC 2851 standard for high-level data exchange throughout the manufacturing stages. The company also markets verification and test-and-assembly products. A full quarterly report can be found in the Investor Relations Sector of the company's Website at www.valor.com.