Israeli Security Firm Reports Loss In 2008

TEL AVIV [MENL] -- A leading Israeli security firm has reported a loss for
2008.
Israel's Magal Security Systems said it lost $21.4 million in the fourth
quarter of 2008 amid a cancellation of orders. The company reported a loss
of $32.6 million for all of last year, compared with a net income of $1.9
million in 2007. The company said it lost $14 million through canceled
contracts and increased costs.