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Understanding “Real” PSIM

Understanding “Real” PSIM

Editor / Provider: Israel Gogol, a&s International | Updated: 10/15/2014 | Article type: Hot Topics

PSIM (physical security information management) software is a rapidly growing segment in the security market. Its core strengths lie in the ability to integrate disparate systems, creating an intelligencebased situation picture and supplying operators with active policy management. As the market learns more of the benefits PSIM they have the potential to go beyond security and turn into a complete site management platform.

The world market for PSIM (physical security information management) software in 2013 was estimated at US$160.3 million by IHS Research. Despite being a small segment inside the larger security market, PSIM has enjoyed rapid growth — it is estimated to continue growing at 20% and higher growth rates until at least 2018, according to IHS. Price and also end users' level of understanding of PSIM solutions are still main barriers limiting PSIM growth. In addition, the PSIM market's long-term growth is also limited by “competing products successfully being deployed in the mid-tier, a market that has historically been out of reach for the high-end PSIM software platforms due to their prohibitive price tag,” IHS commented.

What is a "Real" PSIM?
PSIM is a software platform that collects and manages information from disparate security devices and information systems into one common situation picture. These can be traditional security sensors like video cameras, access control, intrusion detection sensors, as well as “non-conventional” systems such as networks and building management systems, cyber security hacking alerts, and even weather feeds. A true PSIM solution is vendor and hardware agnostic, giving users the ability to integrate legacy systems and the flexibility and the choice to use best-of-breed technology in the future without limitations.

Being a relative newcomer to the security sector, and displaying a fast growth rate, there is confusion regarding what constitutes a “true” PSIM solution and how it differs from other command and control systems, video management software (VMS), or other security platforms, some of them offering their own integrations between different systems.

The main benefit of PSIM lies in its integration capabilities, being able to connect with existing and planned systems without being “locked-in” to any specific vendor. Usually VMS systems or access control systems use proprietary technology. In these cases, extending a system can only be done by the same vendor. Integrating with a legacy system provided by a different vendor could prove difficult, forcing replacement of existing systems.

In addition to this unique integration capability, PSIM offers another strong differentiator: PSIM is an intelligencebased solution. Collecting and correlating information from different sources means alerts are only raised on events that are important. “A true PSIM has the ability to identify unfolding events, manage them effectively, and mitigate their risk. For commercial, critical infrastructure, and homeland security markets, PSIM provides situation management and establishes the foundation for organizations' operations,” said Jamie Wilson, Security Marketing Manager for EMEA at NICE Systems.

A third important differentiator is the ability to provide active management of events, improving operational efficiency. By using adaptive workflows, the operator knows what is happening, where it is happening, and what needs to be done. Step-by-step action plans can be created to address different situations. This is vital in both making the operators job easier, but also in ensuring the company is following corporate safety and security policies every time and complying with local rules and regulations. “Without adaptive workflows, all you have is a lot of interconnected systems and you are solely reliant upon the experience of the operator to be able to coordinate the management of the incident,” added Wilson.

Adlan Hussain, VP of Marketing at CNL Software emphasized that dynamic workflows can change based on the time of the day, the threat level, and the number and types of alarms in the system. “This is what makes a PSIM solution an intelligence-based system and not a mere check list of processes to follow,” he explained.

These benefits, combined with growing connectivity, change the way corporations work. PSIM allows for a more centralized command and control, without being tied to a specific site. “In the past the security surveillance and sensors' monitoring had to be on-site at the place of the event. Today we can disconnect between the surveillance and the site. The benefit of a PSIM system is not only in connecting different sites, but thanks to the ability to display the same information in different languages we can connect a company headquarters in Europe with a site in Africa,” explained Hagai Katz, VP of Business Development for Magal Systems. “This connectivity allows the company headquarters to quickly address issues and make sure that the initial response is the correct one. A company can extend the benefit it gets from a PSIM system beyond safety and security. Other company procedures can be incorporated into the SOP, for example, making sure a proper media response is prepared by the PR function. In that sense a PSIM system also contributes to the company's risk management.”

Who should install PSIM?
From the technical point of view, PSIM solutions are intended for easy integration. It is therefore meant for cases when there are several legacy systems that need to be integrated, when there are several control layers (e.g., local and national), and when there are many sensors, or when future integrations with additional systems are needed.

PSIM is mostly needed for critical sites with high security requirements and large sites with many systems/ sensors. It is therefore mostly relevant for national infrastructure, large corporations, government buildings, mass transportation, and city protection projects. All these already have existing legacy systems and can benefit from integration. A city, for example, can integrate video footage from public space video surveillance cameras and traffic control cameras creating a unified situation picture in the control room.

Obstacles Facing Adoption
Though the benefits of PSIM seem natural and logical, there are still many barriers to its adoption. Some are due to lack of buy-in by different stakeholders that refuse to give up control of their systems and information; some are the result of past failures.

One of the biggest challenges faced by PSIM vendors is the availability of IT savvy channel partners. “Limitations to growth are predominantly around the current education levels within end users, consultants, and integrators,” explained Hussain,” We are working hard to increase education levels within each of these groups, and have created programs to address some of these challenges.”

Growing Connectivity and Greater Industry Cooperation
“With everything today moving at light speeds towards connectivity via the network and the Internet, PSIM is also migrating and expanding towards the ‘Internet of Things' via the information management aspects of PSIM,” said James Chong, Founder and CTO of Vidsys. “The open architecture and browserbased PSIM technology is enabling the software platform to rapidly and literally connect with almost any IP-based device, application, and system using open standards and protocols such as XML, SOAP, HTTP, SMTP, and others.”

Recent updates in PSIM software functions and features include integration with mobile devices, allowing ground forces to share and receive information through smartphones and tablets. In addition, there is an industry move towards greater connectivity with other business systems such as HR systems, internal directories, visitor management systems, building automation systems, RFID, intelligent transportation, and more. These will create opportunities for other benefits to be realized from PSIMs beyond safety and security.

“I think people are realizing that PSIMs can provide a lot more than just physical security,” said Michael Mesaros, Group Product Manager at Proximex, a Tyco Security Products brand. “We're being asked by customers to integrate with all kinds of systems — elevators, building management systems, luggage conveyors, and even environmental controls in airport jet ways. There is a combination of market forces at work and PSIMs must be capable of leveraging this data for more and more systems as it becomes available.” He pointed out that Proximex has worked to make their PSIM easier to integrate with — for example, by implementing APIs based on REST (representational state transfer), a standard integration in the enterprise IT world. “Following these standards opens up a lot of avenues for customers to integrate social and web solutions.”

toward greater connectivity and easier integration. CNL has created a PSIM driver development community, which allows other development houses, product vendors, and security integrators to create drivers to connect systems to CNL's PSIM platform. This allows fast production of drivers, and allows product vendors to create their own drivers if they are not able to share their SDK or APIs. In the past five years, CNL has also been running a technological partner program.

Another initiative to foster interoperability between manufacturers and establish industry standards is the Physical Security Interoperability Alliance (PSIA) led by companies such as Cisco, Tyco, Hikvision, and Kastle Systems. PSIA's mission is to develop specifications for physical security technology that will enable plug-and-play interoperability across the security ecosystem. This will make the integration of different systems under a PSIM solution quicker and easier.

Integrating Predictive Capabilities
PSIMs can go beyond event management and post-event investigation. The ability to integrate with media broadcasts, open source intelligence systems, and other information analytics gives PSIM a predictive capability, as well as a strategic advantage in predicting and preparing for incidents.

Earlier this year, Vidsys and HP Autonomy announced a collaboration to develop a solution that combines VidSys' PSIM with HP's advanced information analytics platform. “Social and broadcast media play an increasingly significant role in helping anticipate and mitigate potential security incidents around the world. The nature and profile of threats are constantly changing and this new generation of adversary often leaves a different digital footprint, creating potential gaps in traditional threat detection approaches,” said Chong. “The combination of a vast array of information, including social media chatter, video surveillance footage, emails, case files, criminal records, and physical location data help identify potential threats and take actions to neutralize the danger.”

PSIM to Offer Holistic Management
The benefits of PSIM, especially its ability to incorporate non-security systems, hold within them the promise of expanding beyond physical security and delivering comprehensive information management. A good example is seaport management, explained Katz. A PSIM system can make sure that an incoming truck is cleared quickly using LPR sensors for the truck and a biometric sensor for the driver. The containers can be recorded and stored according to their final destination and video surveillance can make sure the goods are not damaged. Since everything is audited by the system, the port can accurately bill the clients according to how long the cargo was stored before it was loaded on the ship. Usages like this, according to Katz, show how “PSIM allows combining these different work flows into one single story.”

All in all, the data gathered from security systems, combined with other systems can turn a PSIM solution into a comprehensive site control platform; thus demonstrating that PSIMs are not for security alone. In the future, PSIMs will allow for a more holistic management approach, combining safety, security, and management.

Magal S3 to deploy PSIM for new $4.5Million contract in Mexico

Magal S3 to deploy PSIM for new $4.5Million contract in Mexico

Editor / Provider: Magal S3 | Updated: 5/22/2014 | Article type: Security 50

Magal Security Systems has just announced that it was awarded a US$4.5 million contract to supply a full security solution for a main power distribution center in Mexico.

The project will deliver a complete perimeter security system with a DTR taut wire system and a surveillance system, fully integrated by Fortis4G - Magal's state of the art PSIM (Physical Security Information Management).

Carlos Garcia, President of Magal S3's Mexican operation commented: "We are encouraged by this large order. While we saw a pause in orders following the elections, budgets have now been released and we believe that the receipt of this new order marks a resurgence of business in the region. Our local office is all set to kick off this important project in the near future and we aim to complete it before the end of the year."

Magal awarded $6.4M contract to secure int'l airport in Kenya

Magal awarded $6.4M contract to secure int'l airport in Kenya

Editor / Provider: Magal S3 | Updated: 5/9/2014 | Article type: Security 50

Magal Security Systems, Ltd. just announced that it entered into a $6.4 million turnkey contract with the Kenyan Airport Authority (KAA) to secure critical areas in Jomo Kenyatta International Airport, Nairobi, Kenya.

The project includes multiple surveillance and access control technologies, integrated by Fortis4G – an advanced PSIM (Physical Security Information Management) system. The project is expected to be completed in the first half of 2015.

Eitan Livneh, President and CEO of Magal S3, commented: “Over the past two years, we have successfully delivered a number of security projects for critical national assets in Kenya, demonstrating how excellence in performance and successful deliveries lead to significant further business. We are proud to be employed by this prestigious national customer and remain committed to supplying the latest technology with the highest standards of execution.”

Critical infrastructure aspires for comprehensive protection

Critical infrastructure aspires for comprehensive protection

Editor / Provider: Michelle Chu, a&s International | Updated: 4/8/2014 | Article type: Infrastructure

The critical infrastructure sector has been regarded as one of the most important sectors in terms of national security around the world since it is highly vulnerable to terrorist threats. There were about 2,500 attacks on critical infrastructures around the world that can be linked to terrorist organizations from 1996 to 2006, according to a report by Electric Power Research Institute. To prevent possible disastrous consequences, governments usually adopt various high-tech security products that come with better risk management systems and also higher prices. It is forecast that the global infrastructure market will grow from US$63.7 billion in 2013 to $105.9 billion in 2018, at a CAGR of 10.7 percent, by MarketsandMarkets. North America will remain as the market with the most revenue, whereas the markets in Latin America, the Middle East, and Africa are expected to experience greater market traction.

MAJOR SECURITY THREATS TO CRITICAL INFRASTRUCTURES
Critical infrastructures have always been one of the most prominent security focuses of national security. Critical infrastructures refer to several essential and fundamental facilities, interdependent systems, and assets that support a country's politics, economy, transportation, security, energy, health, education, communication, etc. — to put it simply, it has a huge impact on the public's daily activities. For instance, if any power plant is damaged, it can jeopardize a country's security and lead to unimaginable public consequences and inconveniences, as it can take several weeks to months for total site functionality to be restored.

Critical infrastructures are mainly threatened by terrorism, vandalism, intrusion, and espionage, and are often considered a major target of anti-government actions. These critical sites should also be protected from industrial accidents and natural disasters which will instantly endanger the public once they occur. If a dam, for instance, is sabotaged, the damage may cause insufficient water resources, flood control failure, agriculture irrigation failure, and even disable electricity from being generated around that area, or worse, across the country. If a power grid is attacked, the damage may lead to chemical leaks and cause further destruction.

An example of this is the power grid attack in California last April, which has recently been disclosed as an act of domestic terrorism, in which 17 transformers were fired at by unknown snipers for 19 minutes. The attackers had cut the fiber optic telecommunication cables in an underground vault near the site before entering the site and shooting at the oil-filled cooling systems of the transformers, causing massive oil leaks and the transformers to overheat. Fortunately, the damage was controlled; however, it still took 27 days for the facility and the damaged transformers to be repaired — each transformer can cost millions of dollars to build, according to a report by The Wall Street Journal.

KEY CHALLENGES IN CRITICAL INFRASTRUCTURE PROTECTION
A power grid is usually set up with multiple buildings, assets, and facilities, spread over a vast geographical area. Critical infrastructures generally invest in various technologies over time, resulting in the wide adoption of legacy and new devices, according to Darren Chalmers-Stevens, VP of EMEA at VidSys. Regarding overall size, number of buildings, and vast system deployments, managing a power grid in an organized manner is the primary challenge of protecting critical infrastructures. In order to efficiently and conveniently manage the entire energy station across multiple locations, it is crucial for critical infrastructures to centralize operations and increase situational awareness on both physical and logical threats through greater system integration.

MULTI-LAYERED PERIMETER DETECTION AT THE FRONT LINE
Risk management of critical infrastructures could be a great challenge to a site operating manager, due to complex deployment of disparate systems, devices, and facilities within a vast area. Critical infrastructures tend to favor multi-layered perimeter systems, which are able to comprehensively prevent various threats, like vandalism, trespassing, terrorist acts, and etc.

It is forecast that the global market size for electronic perimeter security sensors and video in electrical utilities and oil refineries will top $160 million in 2014, despite the economic slowdown in 2011 and 2012. This strong growth is resulting from the trend of using remote video and networked sensors in order to remotely configure and conduct devices from a distant location, according to a report by IMS Research, an IHS company.

For energy grids, any security threat or attack might lead to catastrophic results, which is exactly why managers are prone to using multi-layered perimeter detection systems.

A nuclear site is the perfect candidate for a multi-layered perimeter system. “A common architecture for nuclear power stations and other high security sites is an initial layer of a volumetric-tall sensor (4m to 6m high) with very high possibility of detecion; once an alert is generated, the intruder has to penetrate a fence which would delay the intruder for a few minutes to move on, even if the intruder is well equipped,” suggested by Hagai Katz, Senior VP of Marketing and Business Development at Magal Security Systems.

"Behind the layer, there is typically a clear space of about 10-meters wide; it is an area always kept clear, facilitating ease of verification, be it by cameras or another detection layer, such as microwave sensors, buried volumetric cables, or even IR detectors. And finally there is a second fence for further delay, which may be equipped with a smart fence mounted sensor.”

Integration of Video Surveillance and Intrusion Systems
In perimeter security, it is crucial to properly integrate video surveillance with intrusion systems. If individuals or vehicles intend to breach a critical site, the intruder will trigger the perimeter sensors. The system will then immediately send out a security notification to the command center with a corresponding image from the camera at the particular site so operators will know how to respond.

“Without integration between video surveillance and intrusion systems, it would be difficult to maintain a high level of awareness when a sensor detects a break-in — it would be time consuming for a security operator to find the appropriate video footage of an event,” Joshua Phillips, Director of Marketing of Enterprise and Critical Infrastructure of Video Intelligence Solutions at Verint Systems stated.

There could be up to hundreds of surveillance cameras installed at the site of an energy grid to make sure that the entire area is completely covered. As the front line of a critical infrastructure site, a perimeter system especially requires constant monitoring with surveillance devices, in order to have the site comprehensively controlled.

However, for the security guard and operator, it is almost impossible to continuously concentrate on watching every camera during their shift, not to mention identifying the correct on-site camera and location right when the security alarm goes off. Adopting video analytics not only helps the operator to prevent an intrusion or attack, more importantly, it makes sure that the guards and operators will not miss any suspicious actions. “Upon motion detection or other abnormalities detected, security operators can get a geospatial location on the targeted suspect and immediately dispatch a response,” Phillips mentioned. Physical motion detection can help security operators spot threats effectively even in harsh external conditions and weather.

A TOTAL INTEGRATION PLATFORM
A common goal, when it comes to critical infrastructure protection, is the ability for security guards and operators to identify and respond to threats in the shortest time possible. In order to immediately and efficiently react to possible threats on site for large-scale operations, it is crucial to have a central management system with an open platform to allow for integration between different security measures and subsystems.

Besides, security systems like video surveillance, access control, and perimeter security, a total management integration platform should be able to connect effortlessly with other major systems. These systems include IT, fire and smoke detection, alarm, extinguishing, telephone, radio communication, and building automation that might be in the critical sites. These systems should be easily integrated through a single platform, regardless if they are new or legacy products and devices.

This total integration platform can make sure that any operator is able to manage all systems on site whenever a natural disaster, unexpected incident, or attack occurs. “The integration of video surveillance, access control, intrusion alarm, and fire detection is an ongoing and growing phenomenon which requires a tailor-made approach on behalf of the vendors and integrators, as some of the systems, such as access control, are quite old, but still operable,” said Aluisio Figueiredo, COO of Intelligent Security Systems.

Providing a safety and security solution that integrates different systems into a single, multi-modal, administrative solution is not just about merging equipment, devices, and systems — it is about putting into place a solution to support clearly defined working routines whilst ensuring rapid, compliant, and efficient response to emergency situations along with the mandatory, post-incident reporting analysis, according to Siemens Building Technologies.

CONCLUSION
Security deployment in a critical site is never an easy task, as there are many obstacles and concerns, such as environment, budget, and consensus among every department, which will affect the final security procurement in a critical infrastructure. Despite the challenges, the security market in the critical infrastructure sector is still full of opportunities for providers due to its importance in national security and safety.

Magal S3 receives $8M contracts in North America

Magal S3 receives $8M contracts in North America

Editor / Provider: Magal Security Systems | Updated: 3/3/2014 | Article type: Security 50

Magal Security Systems announced that it had recently received a number of new contracts, primarily from customers in North America, amounting to $8 million.

The first contract for $5.2 million was for duress systems for prisons located in the United States. Duress systems are used in correctional facilities to provide a safe working environment for the prison staff. The contract includes upgrades to 11 existing sites, utilizing Magal's latest command and control displays as well as the installation of new systems in a further 8 sites. These new systems incorporate Magal's latest technologies, with improved architecture, higher reliability, advanced IP communications and Power over Ethernet (POE), which significantly improves the ease of deployment within a building.

A further $1 million in orders were for projects to secure the perimeters of two prisons in Canada, one with Magal's fence mounted system and the second with Magal's buried cable volumetric sensor.

A third order was received in the amount of $1.2 million, which was to incorporate a long-term video archiving system as an upgrade to a CCTV system which Magal installed last year in the Port of Mombasa, Kenya. Finally, additional contracts were received to protect two critical sites in Israel.

Eitan Livneh, President and CEO of Magal S3, commented: “We are encouraged by the strong start of 2014. We are always pleased to receive follow-on orders from existing customers who trust our commitment to continuous product and technology improvement.”

Magal S3 appoints Ilan Kaplan as CEO of CyberSeal

Magal S3 appoints Ilan Kaplan as CEO of CyberSeal

Editor / Provider: Magal Security Systems | Updated: 2/25/2014 | Article type: Security 50

Magal Security Systems, announced that Ilan Kaplan has been appointed CEO of CyberSeal, a wholly owned subsidiary of Magal that was acquired last year. Mr. Kaplan will manage the CyberSeal's growth together with the company's founders.

Kaplan has 25 years of diverse experience in the networking and communication infrastructure areas. Prior to joining Magal, he headed the Mobile Solutions line of business at Gilat Satellite Networks. Previously, he served as President of RaySat Antenna Systems, a company he co-founded, which was subsequently acquired by Gilat.

Kaplan had extensive experience in the United States, where he held senior positions at IBM (GBS, Wireless, Security and Privacy Practice), leading a nationwide wireless infrastructure program. At Spacenet (a subsidiary of Gilat), he supervised the development and implementation of sophisticated satellite network programs. Mr. Kaplan holds a BSc degree in Electrical and Computer Engineering (Magna Cum Laude) from Ben Gurion University in Israel.

“We welcome Ilan to our management team and we are confident that his extensive experience will substantially help expand our business horizons,” said Eitan Livneh, President and CEO of Magal S3. “Responding to the market demand for integrated cyber and physical security, we see CyberSeal's cyber security offering as an emerging opportunity for Magal.”

MAGAL appoints Rinat Gazit as Vice President

MAGAL appoints Rinat Gazit as Vice President

Editor / Provider: MAGAL | Updated: 1/15/2014 | Article type: Security 50

Magal Security Systems, announced the appointment of Mrs. Rinat Gazit as Vice President - Mergers and Acquisitions, to further implement its strategy to grow the company's business.

Rinat Gazit has over 13 years of business experience in the international domain, with a background in large transactions in the natural resources , energy and water sectors, as well as with IPOs.

Additionally, Mrs. Gazit previously headed the M&A department of Shikun & Binui of the Arison Group, served as a V.P. at Poalim Capital Markets, leading large mergers and acquisitions and private equity investments and held various senior positions within the Beny Steinmetz Group in Israel.

Moreover, Mrs. Gazit holds an M.B.A. degree from the Recanati Business School in Tel Aviv University and Bachelor degrees in Political Science and Sociology and Anthropology from Haifa University.

Eitan Livneh, President and CEO of Magal S3, commented: “We welcome Rinat to our company and management team, where she will play a key role in leading our strategic plan to diversify and expand our business.”

Ramat Ha'sharon expands integrated safe city solution with Magal

Ramat Ha'sharon expands integrated safe city solution with Magal

Editor / Provider: Magal Security Systems | Updated: 1/10/2014 | Article type: Security 50

Magal Security Systems, announced that the municipality of Ramat Ha'sharon in Israel decided to expand the integrated safe city solution previously provided by Magal and upgrade its communications infrastructure to support the use of additional applications.

During 2013, Magal supplied an integrated solution for a safe city project in Ramat Ha'sharon which includes a round-the-clock manned primary control center, a backup control room, dozens of cameras, the number of which are expected to increase significantly in the future, free public wireless access points, public address systems and panic buttons for kindergartens and public areas. During 2014, Magal will extend the municipality's fiber optic network to cover 80% of the municipality and expand the safe-city applications for routine and emergency uses and to improve the quality of life in Ramat Ha'sharon.

Amos Magoz, Director of the Command and Control Center, noted: "The command and control center has become a pilgrimage site for delegations from around the world interested in building similar solutions to protect the citizens of their cities. They are very eager to learn how to drive the most out of technology to improve local security and citizen welfare.”

Perach Melec , CEO of the Ramat Ha'sharon municipality , said: "The Ramat Ha'sharon municipality assigned the CTO of the municipal's computer system, Zachi Shalom, as head of the project. This is due to our paradigm that the technological infrastructure for the safe-city should serve as a driver for developing additional services for our citzens."

Melec also noted that, "The concept that we have developed, guided by the Mayor, Yitzhak Rochberger, sees a solid communications infrastructure as a cornerstone for added-value services in both routine and crisis situations. In fact, over 4000 participants have already made use of the free Internet services at the last City Carnival and we successfully dealt with over 500 simultaneous users at a peak time.”

Eitan Livneh, President and CEO of Magal S3, commented: “We are proud to be the main contractor in this visionary project. We perceive the safe city application as part of a holistic paradigm to improve the quality of life in cities. Magal has extensive experience in implementing projects in cities and critical sites and it is natural for us to expand our solutions into adjacent areas.”

Magal S3 announces Q3 2013 financial results

Magal S3 announces Q3 2013 financial results

Editor / Provider: Magal Security Systems | Updated: 11/28/2013 | Article type: Security 50

THIRD QUARTER 2013 RESULTS SUMMARY

Revenues for the third quarter of 2013 were $12.8 million, compared to $23.5 million in revenues for the third quarter of 2012.
Gross profit in the quarter was $6.2 million, or 47.9% of revenues, compared to gross profit of $9.7 million, or 41.3% of revenues in the third quarter of 2012. The high gross margin in the current quarter was due to the recognition of deferred revenues from a large project which was completed in the quarter as well as changes in the revenue mix.
Operating loss in the quarter was $124 thousand, compared to an operating profit of $1.7 million in the third quarter of 2012.
Financial expense, net in the quarter amounted to $346 thousand compared to financial income of $38 thousand in the third quarter of 2012. The appreciation of the Israeli Shekel versus US Dollar caused the increase in financial expenses.
Net loss in the quarter was $316 thousand or $0.02 per share, compared with net income of $1.8 million, or $0.11 per share, in the third quarter of 2012.
Cash and short term deposits net of current bank debt, as of September 30, 2013, were $35.4 million, or $2.20 per share. This is compared with cash and short term deposits net of current bank debt of $34.2 million, or $2.12 per share, on June 30, 2013.

MANAGEMENT COMMENT

Mr. Eitan Livneh, President and CEO of Magal, said, "While we are disappointed that 2013 is shaping up to be a weaker year for us, I am encouraged by the recent increase in activity. In light of the lower level of revenues, we have kept close control over our expense levels and have minimized our losses. We have also maintained our balance sheet strength with over $35 million in net cash. Looking ahead to 2014, we have much to be optimistic about. We recently announced a number of orders which have increased our backlog. We are participating in securing the southern border of Israel, which holds strong future potential for additional revenues in the years to come and we are seeing improved prospects in our current pipeline. Furthermore, we believe that 2014 will be the year in which we will begin to see the fruits of our investment in CyberSeal, our Cyber Security activity, with the expected launch of our first product line in the first quarter of 2014. Accordingly, I am optimistic about our ability to resume our growth in 2014 and about our future growth potential."

Magal S3 receives $2.5 million order to secure power substation sites

Magal S3 receives $2.5 million order to secure power substation sites

Editor / Provider: Magal Security systems | Updated: 11/26/2013 | Article type: Security 50

Magal Security Systems, announced that it received a repeat order, to secure 13 power transmission substations for a large power company in Eastern Europe for $2.5 million. The order includes the supply and installation of intrusion detection systems

Eitan Livneh, President and CEO of Magal S3, commented: “We are pleased with this repeat order and the increased momentum we have seen in the past few weeks. A follow on order is a sign of a satisfied customer. It also demonstrates how our past efforts and success with customers, as well as our investment in maintaining long-term relationships with them continue to yield fruits over many years.”