Magal Receives Orders to Protect Sensitive Installations in Israel.Business and Technology Editors YAHUD, Israel--(BUSINESS WIRE)--April 22, 2002 Magal Security Systems Magal Security Systems Ltd. (NASDAQ: MAGS), Magal Security Systems, Ltd. develops and manufactures advanced Perimeter Intrusion Detection Systems. Magal's systems are installed in more than 75 countries worldwide, protecting airports, borders, nuclear facilities, military bases, Ltd. (Nasdaq NM:MAGS; TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) : MAGS) today announced that it has received orders of approximately US$ 750,000 to protect major sensitive installations in Israel. The majority of these orders will be reflected in the 2002 financial results. The orders will include Magal's security systems, such as Vibration Intrusion Detection System This article is about the computing term. For other uses, see Burglar alarm. An intrusion detection system (IDS) generally detects unwanted manipulations of computer systems, mainly through the Internet. , Video Motion Detection System, CCTV CCTV abbr. closed-circuit television CCTV closed-circuit television cameras and other security systems, all controlled by MagNet, Magal's Security Management System (SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM. (2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server. ). Mr. Jacob Even-Ezra, Chairman of Magal, said: "Unfortunately, the war taking place in our region, forces the Israelis to put more efforts in protecting its facilities and installations from unauthorized intrusions. We are proud that once again our products were chosen for this crucial mission." Mr. Even-Ezra added: "I would also like to take this opportunity to inform our shareholders that the Company is using all available measures, including its own products, to protect its facility in Israel. Nevertheless, we wish that the time will come when we and our Palestinians neighbors will be able to live peacefully side by-side in this region." "Also, I would like to emphasize the fact that we have multiple facilities outside of Israel, that are responsible for approximately 60% of our total production," Mr. Even-Ezra concluded. About Magal Security Systems, Ltd.: Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing and marketing of computerized security systems, which automatically detect, locate and identify the nature of unauthorized intrusions. Magal also supplies Video Monitoring Services Video Monitoring Services (VMS) [1] is a media monitoring company that provides news and advertisements monitoring solutions. The company is headquartered in New York with more than 18 offices in the United States. through Smart Interactive Systems, Inc., a subsidiary established in the U.S. in June 2001. The Company's products are currently used in more than 70 countries worldwide to protect national borders, airports, correctional facilities, nuclear power stations This is a list of major nuclear power plants in all countries in the world. This is an incomplete list. You can help Name of power station Installed capacity in MW Country Atucha I nuclear power plant 357 Argentina and other sensitive facilities from terrorism, theft and other threats. Israeli-based Magal has subsidiaries in the U.S., Canada, the U.K., Germany, Mexico and an office in China. Revenues for fiscal year 2001 were US$41 million, with net income of US$3.2 million. Magal trades in the U.S. on the NASDAQ National Market since 1993 and in Israel on the Tel-Aviv Stock Exchange (TASE) since July 2001, in both under the symbol MAGS. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed with the Securities and Exchange Commission. |
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