================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2004
MAGAL SECURITY SYSTEMS LTD.
(Name of Registrant)
P.O. Box 70, Industrial Zone, Yahud 56100 Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F__
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):__
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):__
Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes__ No X
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-____________
This Report on Form 6-K is incorporated by reference into the
Registrant's Form F-3 Registration Statement File No. 333-9050.
================================================================================
Magal Security Systems Ltd.
6-K Items
1. Press Release re Magal Comments on Recently Published Article in Israeli
Press dated May 10, 2004.
ITEM 1
Press Release Source: Magal Security Systems Ltd.
Magal Comments on Recently Published Article in Israeli Press
Monday May 10, 9:42 am ET
YAHUD, Israel, May 10 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd.
(Nasdaq NM:MAGS; TASE:MAGS). In response to a recently published article in one
of the Israel newspapers claiming that Magal failed to report a field test
performed by the IDF, Magal clarifies the following points:
Magal's systems are tested on a regular basis, all the time, by existing and
potential new clients. The company does not report on a regular basis, whether
the product passed the test or not, unless it is a significant business event.
Passing or not in one particular field test of one product out of many is not
viewed by Magal as a significant event, and will not have any material impact on
the company's operations or performance.
The Barricade system of Magal, which the article claims has been left out of the
IDF field-testing, has in fact been in use to the satisfaction of many
customers, including the IDF, for a number of years, and has been tested and
approved by the IDF in the past. It therefore does not need to participate in
the field test mentioned by the newspaper.
Magal has other systems that are participating in IDF field tests, currently in
progress.
Mr. Even Ezra, CEO and chairman of Magal, added: "We trust that our customers
choice in consistently returning and choosing Magal's systems over and over
again, speaks for itself, demonstrating the quality of our products and
services. We do not view the particular field test mentioned in the paper new or
significant to our business."
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing
and marketing of computerized security systems, which automatically detect,
locate and identify the nature of unauthorized intrusions. Magal also supplies
video monitoring services through Smart Interactive Systems, Inc., a subsidiary
established in the U.S. in June 2001. The Company's products are currently used
in more than 70 countries worldwide to protect national borders, airports,
correctional facilities, nuclear power stations and other sensitive facilities
from terrorism, theft and other threats. Israeli-based Magal has subsidiaries in
the U.S., Canada, the U.K., Germany, Romania, Mexico and an office in China.
Revenues for fiscal year 2003 were US$59 million, with net income of US$2.4
million.
Magal trades under the symbol MAGS in the U.S. on the Nasdaq National
Market since 1993 and in Israel on the Tel-Aviv Stock Exchange (TASE) since July
2001.
This press release contains forward-looking statements, which are subject to
risks and uncertainties. Such statements are based on assumptions and
expectations which may not be realized and are inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and some of which
might not even be anticipated. Future events and actual results, financial and
otherwise, may differ from the results discussed in the forward-looking
statements. A number of these risks and other factors that might cause
differences, some of which could be material, along with additional discussion
of forward-looking statements, are set forth in the Company's Annual Report on
Form 20-F filed with the Securities and Exchange Commission.
Contacts:
Magal Security Systems, Ltd Gal Investor Relations
Raya Asher, CFO Ehud Helft, Investor Relations
Tel: +972-3-5391444 Tel: +1-866- 704 6710
Fax: +972-3-5366245 Tel (Intl): +972-3-6074717
E-mail: magalssl@trendline.co.il E-mail: Ehud.Helft@galir.com,
Kenny.Green@galir.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MAGAL SECURITY SYSTEMS LTD.
(Registrant)
By: /s/Jacob Even-Ezra
------------------
Jacob Even-Ezra
Chairman of the Board and
Chief Executive Officer
Date: May 11, 2004