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TWST: Can we begin with a quick introduction to Magal Security Systems (NasdaqNM:MAGS)?

Mr. Even-Ezra: Magal is in the security business with an emphasize on developing, manufacturing and marketing of perimeter security systems. As of today, we are the world leader in this specific niche, supplying about 40% of the world demands for perimeter security products. We have also started lately to go into the integration field where, for the last 3 or 4 years, we have been doing turnkey projects that provide comprehensive security solutions.

TWST: What are going to be the main objectives you will be focusing on over the next 12 to 18 months?

Mr. Even-Ezra: In a few months, we are going to launch two new products which we believe will answer threats that were not there before, but don’t ask me exactly what. I will have to simply ask for your patience on this. But, in a few months we will launch one product and then a few months thereafter we will launch another product. We have been working for quite long time and spend a lot of money on these products, and they are not going to take the place of the products we have, but they will increase our share in the market because they will go into markets that we are not selling in at all today. So this is one of the things that I am very excited about. Now, we do believe that within 10 or 12 months we will have a lot of work in the United States. I think when the Iraq issue has been taken care of, people will have more time and resources to spend on Homeland Security. So this is something we are looking forward to in the coming year or two and we believe it will represent nice growth for us. You know, we took the same approach as Coca-Cola not to give any forecasts since we first went with the IPO. So for nine years, we have never given forecasts because, even though I live in Israel and I was born in Jerusalem, I don’t believe I can predict what will happen 12 months from today.

TWST: What can you tell us about your management team and the ability to execute on your goals while managing your growth?

Mr. Even-Ezra: First of all, I’m the oldest man over here and I’m not running the company anymore; it’s the young people that are running the company. We have an excellent team. Most of them are electronic engineers; some of them are in marketing. The group president is [50] years old. We actually have 5 presidents in different locations all over the world, and he is the oldest of them. Our team in the R&D is very strong and stable. Even during the years when everybody ran out of the companies for opportunities in the new economy, as it was called at the time, our people stayed with us because they like the company. They have options in the company and the work is stimulating. For example, they are not looking at their watch all day. I think the spirit is very strong here. Everybody that comes to visit us is astonished by the enthusiasm of the employees.

TWST: What are some of the financials highlights that a potential investor should take interest in when looking at your company?

Mr. Even-Ezra: I think that the major highlight is that our backlog starting this year was the highest we ever had, and in the fourth quarter our revenues were the largest we ever had. So, the point to be aware of is that we are growing all the time. If you look back 10 years since the IPO, our accumulated average growth up to today is 17%, which is not bad at all for that length of time. And we believe that in the future we might do even better.

TWST: What’s going to be the main challenge for management?

Mr. Even-Ezra: We hope to continue to grow from 17 % to 20% percent per year on average. So within 3 or 4 years we will almost double the revenues of the company. The challenge is to manage that growth.