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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 monthsof 2008 were $4,800,000, compared to $4,570,000 revenues reported in thefirst six months of 2007.
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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 sixmonths of 2008 was ($1,026,000) compared to $73,000 net income in the firstsix months of 2007. The net loss is mainly due the company's decision to useits free cash for increasing it's spending on marketing and R&D and thedevaluation of the dollar.This press release contains forward-looking statements. Such statementsinvolve various risks that may cause actual results to differ materially.These risks and uncertainties include, but are not limited to: market demandfor the Company's product, successful implementation of the Company'sproduct, competitive factors, the ability to manage the Company's growth andthe 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
