YAVNE, Israel, Aug. 3 -- Valor Computerized Systems today reported record second-quarter revenues as sales spiked 18% over last year. It was the fifth straight quarter of sales growth.

For the quarter, Valor reported revenues of about $7.5 million, tying a company record, up from $6.3 million a year ago. Cash flow improved by $1 million during the quarter.

First-half revenues were up 17.3% to $14.6 million while net was $301,000, reversing a loss of $539,000.

President and CEO Ofer Shofman said in a press statement, "I am delighted with these results. [W]e expect to maintain our growth rate in the second half.