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ACS Motion Control Ltd. Reports Second Quarter Results
Date:7/31/2008

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

Consolidated

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 2,394 1,217 1,147 4,207

Research and development

costs

Costs incurred 1,552 1,102 808 587 2,303

Less-grants received (265) (216) (137) (109) (438)

Net research and

development costs 1,287 886 671 478 1,865

Selling and marketing

expenses 1,114 795 576 371 1,659

General and

administrative expenses 1,012 774 512 379 1,565

Total operating costs 3,413 2,455 1,759 1,228 5,089

Operating loss (1,208) (61) (542) (81) (882)

Financing income

(expense), net 35 135 (14) 79 287

Impairment of investment

in other - - - - (169)

company

Income (loss) before

taxes on income (1,173) 74 (556) (2) (764)

Taxes on income 147 (1) 106 6 79

Net income (loss) (1,026) 73 (450) 4 (685)

Earnings (loss) per

Share - in U.S. Dollars

Basic net earnings (loss)

per share (0.31) 0.02 (0.14) 0.001 (0.21)

Weighted average number

of shares used in

computation of earnings

(loss) per share

Basic - in thousands 3,281 3,274 3,281 3,281 3,277

2008, Q2 Consolidated Balance Sheets June 30, December 31,

2008 2007 2007

Consolidated

U.S. Dollars in thousands

ASSETS

Current assets

Cash and cash equivalents 2,105 2,937 3,136

Marketable debt securities 3,730 4,331 4,103

Trade receivables, net 2,259 2,004 1,966

Inventories 2,976 2,582 2,534

Other 807 690 422

Total current assets 11,877 12,544 12,161

Long-term assets

Deferred income taxes 204 140 123

Marketable debt securities - 284 982

Investment in other company 357 532 363

Inventories 975 950 906

Pre-paid expenses and lease deposits 72 62 71

Long-term assets 1,608 1,968 2,445

Property and equipment

Cost 4,289 3,781 3,951

Less - accumulated depreciation (3,542) (3,302) (3,416)

747 479 535

Total assets 14,232 14,991 15,141

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

Trade payables 1,292 856 1,569

Other 1,405 934 1,104

Total current liabilities 2,697 1,790 2,673

Accrued severance pay, net 271 191 198

Total liabilities 2,968 1,981 2,871

Shareholders' equity

Share capital - Ordinary Shares of NIS

0.01 par value

Authorized - 8,000,000 shares

Issued - June 30, 2008, June 30, 2007

and December 31, 2007- 3,280,752

Outstanding - June 30, 2008, June 30,

2007 and December 31, 2007- 3,280,751

10 10 10

Additional paid-in capital 7,396 7,358 7,376

Treasury stock - (1 share as of June

30, 2008, June 30, 2007 and December

31, 2007) (150) (150) (150)

Retained earnings 4,008 5,792 5,034

Total Shareholders' equity 11,264 13,010 12,270

Total Liabilities and Shareholders' 14,232 14,991 15,141

equity

Net Tangible Assets 11,264 13,010 12,270


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SOURCE ACS Motion Control
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