YAVNE, Israel – Valor Computerized Systems posted second quarter net profit of $1 million – a growth of nearly 150% year-on-year. Net profit for the first six months of 2006 was $1.75 million, up 68% from $1 million in the comparable period last year.
 
Cash flow from operating activities in Q2 was $1.7 million, up from $241,000 YOY.
 
Revenues in the second quarter increased 10% sequentially to $9.2 Million, from $8.4 million; the number is a 2% increase over Q2 2005.
 
“I’m very pleased with the results,” said Ofer Shofman, president and CEO. “The successful implementation of a restructuring process enabled us to show an increase in revenues in Q2 as well as significant increase in net profits. We have been able to penetrate several of the world’s largest electronics companies with our TraceXpert solution this quarter. We expect these deals to deliver significant business in the upcoming years and to open the doors for us into new markets.”
 
“By the end of the year we are planning to launch a number of new products,” Shofman revealed. “The first one, to be launched within a few months, will provide a Web-based collaboration platform between our customers and their clients.”
 
The company expects to see continued growth in the next quarter and has revised it annual net profit forecast from $3 million to $3.75 million.

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