Valor Computerized Systems (Yavne, Israel), a software solutions provider to the electronics industry, has reported an improvement in its revenue for the first quarter of 2004.

 

Business in the global electronics industry is picking up, which is positively impacting the company's overall business. Revenues in the first quarter increased by 16.4% to $7.15 million, up from $6.14 million in Q1 2003.

 

During the quarter, Valor experienced a steep increase in research and development investments, due to the purchase of 50% of Danish company TraceXpert and the development of new products. R&D expenses rose 60% from the same quarter last year to $2.66 million. The company's headcount increased to 199, a raise of 16% mainly attributed to the increase in the R&D force.

 

Selling and marketing expenses were the same as the previous quarter at $3.34 million, up 9.6% from the previous year. +Product sales generated $4.6 million, up 20% year-on-year.

 

Due to the investments in new products, the net profit for Q1 was $295,000, down from $623,000 in Q1 2003. However, positive cash flow from operating activities reached $1.25 million.

 

www.valor.com

 

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