Reuters: Global Markets: Magal Security posts strong Q4, shares soar

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Magal Security posts strong Q4, shares soar Apr 4th 2012, 14:40 Wed Apr 4, 2012 10:40am EDT (Reuters) - Israel-based Magal Security Systems posted a fourth-quarter profit, helped by strong demand across geographies, sending its shares up more than 37 percent in early morning trade. Fourth-quarter net income attributable to shareholders rose to $4.3 million, or 27 cents a share, compared with a net loss of $1.5 million, or 14 cents per share, a year ago. The company's revenue more than doubled to $33.7 million. Shares of Magal Security Systems, which provides monitoring and safety solutions, were trading up at $6.08 in morning trade on Wednesday. They have nearly doubled in value in the last six months. (Reporting by Bijoy Koyitty in Bangalore; Editing by Sreejiraj Eluvangal) (bijoy.koyitty@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: bijoy.koyitty.reuters.com@reuters.net))

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