Q1 2022 BOS Better Online Solutions Ltd Earnings Call

Ladies and gentlemen, thank you for standing by welcome to the Bos first quarter 2022 results conference call. All participants are present in listen only mode. Following management's formal presentation instructions will be given for the question and answer session for opera area or assistance during the conference.

Please press Star Zero as a reminder, this conference call is being recorded and will be available on the Bos website as of tomorrow with US online today are Mr. Ziv, Dachau Chairman, Australia, All Cohen CEO and Mr. Moshe is out there CFO before I turn the call over to Mr. Dirk I would like to remind everyone that forward looking statements for the respective company.

<unk> business financial condition and results of its operations are subject to risks and uncertainties, which could cause actual results to differ materially from those contemplated such forward. Looking statements include but are not limited to product demand market.

This marketing market acceptance changing economic conditions risks and product and technological technology development and the effect of the Companys accounting policies as well as other risk factors, which are detailed from time to time in the company's filings with the various securities authorities.

I would now like to turn the call over to Mr. Ziv Dachau Chairman Mr. Deco. Please go ahead.

Thank you for joining our earnings call I'm encouraged by the strong opening of the first quarter of the year end 2022. These results represents.

It is a comprehensive announcement process of the company's core capabilities in both ends of the market competitive position all led by a yacht in the management team as well as the favorable the favorable market trends like the global shortage of electronic components and the countries in Europe .

Capitalized the supply chain division and the agenda are these really economy to explore gross baths positively affecting the onyx I do division looking forward, we can expect continuous improvement due to three <unk>.

There are three aspects. The first aspect is the continuation after announcement of the company.

Capabilities processors each.

Markets competitive position, while the product and service offering to the fruition of the acquisition of the three of.

Yes.

Looks like division and three the positive effect of the favorable.

Favorable global trends, which specifically the industry full point, though and the shortage of workforce.

Catalyze the Robotics Division I Trust the management team led by yours quality powerful and dedicated leadership to successfully carry the strategic and operating loss challenges I would like to.

To turn the call over to a yard Cohen CEO .

Thank you.

It was a quarter or with the SEC.

Significant developments, we received orders for $13 8 million, which reflects an increase of 60% over the comparable quarter last year.

Most of the orders are for deliveries this year.

Among the significant orders were $2 $4 million from under an existing Israeli customer of the supply chain division belong to the aviation industry.

$600000 order form.

Client and continuous decline of the supply chain division belongs to the defense industry.

That's older demonstrates a clear out the value of our supply chain services to manufacturers.

Worldwide.

Our intelligent Robotics division received a $600000 icon all the fun industrial robotics slide.

This order follows support our focus on sales to customers with ongoing extensive.

Automation needs.

On the M&A side, our RFID Division acquired one.

One of its competitors.

Which expect.

To create a person on SEDAR dream increases our market share and strengthen our market position.

On the personal side, we made a significant step to reduce our operating expenses.

Acquired part of the facilities, both hasn't been an issue.

In conclusion.

This development advances towards our financial targets for year, 'twenty, two which are revenues over $35 million.

Net income to exceed $1 million compared to a net income of $450000 in year 'twenty one.

That's complete my review thank you.

Yeah.

Thank you ladies and gentlemen at this time, we'll begin the question and answer session.

I have a question. Please press star one if you wish to kept declining from the polling process. Please press star two if you are using speaker equipment kind of lift the handset before pressing the numbers.

<unk> will be pulled in the order. They are received please standby while we poll for your questions.

Okay.

Okay.

The first question is from Todd felt of Advisory group equity services. Please go ahead.

Congratulations on a great quarter as even a yellow I know our shareholders must be very happy with it.

I had one question since March you've announced a two or three contracts with a defense industry customers and you spoke of the recent surge of orders for military contract in Europe , and I've also been reading, how Germany and other countries are spending billions on missile defense systems from Israel.

Have you been given any forecast or estimates for many of your defense industry customers on the upcoming pipeline of orders and do you expect that pipeline to continue.

Beyond 2022.

2023 and in further.

Yeah.

Hi, Thank you for question.

We are getting positive indications from our clients fully grown.

Demands.

Yeah.

So our component.

And or those are on the pipe.

As we have in there.

But to this theory.

It's a.

Greater amount.

And I believe that this.

This trend will continue in this year.

And hopefully next year as well.

Okay, and you're still it sounds like you're still sticking with your our estimates for 2022 of over $35 million in revenue and 1 million plus net income and and do you feel that there's a chance you could beat these numbers if if if the orders continue to come through.

Yeah, Yes, there is a chance that you see the the rate of progress in the first quarter. We made any revenues of more than $10 million, which is a rate on all the way to $40 million.

And the 19 kind of music.

About 300000, dollar, which exceeded $1 million forecast, but let's see the second quarter results and then maybe we will update our forecast.

Okay, that's great to hear I know that the first quarter is usually a little softer for you I think the previous hired I had ever seen was only around $8 million in revenue. So the $10 8 million is extremely encouraging and keep up the good work. Thank you.

Thank you Ted.

Is there any additional questions. Please press star one if you wish to go a decline from the polling process. Please press star two if you're using speaker equipment kind of lift the handset before pressing the numbers questions will be pulled in the order. They are received please standby, while we poll for more questions.

There are no more questions at this time before I ask Mr. Cohen to go ahead with his closing statement I would like to remind participants that a replay of this call will be available on the company's website www dot baas com dotcom by Tomorrow, Mr. Colin would you like to make your <unk>.

<unk> statement.

Yes. Thank you. Thank you for joining our call today and they're looking forward to meet you when our next caller.

You are welcome to contact me.

Anytime by phone or email thank you.

This concludes the Bos first quarter 2022 results conference call. Thank you for your participation you May go ahead and disconnect.

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