Bloomberg News

Magal Security Rallies Most in Almost 4 Years After Profit

November 30, 2011

(Updates with closing share price in second paragraph.)

Nov. 29 (Bloomberg) -- Magal Security Systems Ltd. soared the most in almost four years after the company that develops computerized security systems reported a profit of $7.1 million for the third quarter.

The shares surged 22 percent, the biggest gain since January 2008, to 11.96 shekels at the 4:30 p.m. close in Tel Aviv.

Magal had a loss of $799,000 in the year-earlier period.

--Editor: Claudia Maedler

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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