In the second quarter of 2017, the Company recorded revenues of $51.2 million, a decrease of 12.3% over the corresponding period in 2016 ($58.4 million). Revenues in 2016 were boosted by the partial billing for a large PBX system, but no comparable projects were realized in this quarter. During the quarter the Company signed contracts with new customers primarily in the public sector for
security and consulting services. Despite the new customers and projects, the Company’s performance for the quarter was disappointing as revenues were below expectations.