MIGDAL HA'EMEK, Israel, July 31 /PRNewswire-FirstCall/ -- ACS Motion Control Ltd., (Nasdaq: ACSEF - news), a developer and manufacturer of advanced motion control products, reports second quarter revenues and earnings.
Revenues for the second quarter of 2008 were $2,600,000, compared to $2,149,000 in the second quarter of 2007. Revenues for the first six months of 2008 were $4,800,000, compared to $4,570,000 revenues reported in the first six months of 2007.
Net loss for the second quarter of 2008 was ($450,000), compared to
$4,000 net income in the second quarter of 2007. Net loss for the first six
months of 2008 was ($1,026,000) compared to $73,000 net income in the first
six months of 2007. The net loss is mainly due the company's decision to
use its free cash for increasing it's spending on marketing and R&D and the
devaluation of the dollar.
This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: market demand for the Company's product, successful implementation of the Company's product, competitive factors, the ability to manage the Company's growth and the ability to recruit additional personnel.
2008, Q2 Consolidated Six months Three months Year
Statements of Operations ended ended ended
June 30, June 30, December 31, 31,
2008 2007 2008 2007 2007
U.S. Dollars in thousands
Revenues 4,800 4,570 2,600 2,149 8,868
Cost of revenues 2,595 2,176 1,383 1,002 4,661
Gross profit 2,205
|SOURCE ACS Motion Control|
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