B.O.S. Expects to Record a Write-Off of $600,000 Related to Recent Robotics Acquisition
B.O.S. Better Online Solutions - Ordinary Shares (BOSC)
US:NASDAQ Investor Relations:
group.hugoboss.com/en/investor-relations
Company Research
Source: GlobeNewswire
RISHON LEZION, Israel, Oct. 29, 2019 (GLOBE NEWSWIRE) -- B.O.S. Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC), a global provider of intelligent systems and services for production and logistics, announced today that it expects to record a write-off of approximately $600,000 in the third quarter of 2019, primarily related to its robotics acquisition. Eyal Cohen, BOS Co-CEO and CFO, stated, “In connection with our acquisition of the robotics business of Imdecol Ltd. ("Imdecol"), we agreed to act as Imdecol’s subcontractor to complete certain existing contracts, which were not assigned to BOS as part of the transaction. We have experienced unexpected cost overruns and delays in the completion of these contracts, which cannot be passed on to the customers. Although Imdecol remains responsible for such cost overruns, BOS does not expect that Imdecol will be able to pay these amounts, so BOS expects to write off a portion of Imdecol's debt in the amount of appr
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BOSC
News
- BOS Announces Expansion of Supply Chain Product Offerings [Yahoo! Finance]Yahoo! Finance
- BOS Announces Expansion of Supply Chain Product OfferingsGlobeNewswire
- B.O.S. Better Online Solutions Third Quarter 2024 Earnings: EPS: US$0.10 (vs US$0.054 in 3Q 2023) [Yahoo! Finance]Yahoo! Finance
- BOS Reports Financial Results for the Third Quarter of the Year 2024GlobeNewswire
- BOS Secures $2.7 Million Defense Related OrderGlobeNewswire
BOSC
Sec Filings
- 12/5/24 - Form 6-K
- 11/27/24 - Form 6-K
- 10/15/24 - Form 6-K
- BOSC's page on the SEC website