6-K

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 November 2016

MAGAL SECURITY SYSTEMS LTD.

(Name of Registrant)

P.O. Box 70, Industrial Zone, Yahud 5610001 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 S                                           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 S

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 S-8 Registration Statements File Nos. 333-127340, 333-164696, 333-174127 and 333-190469.

Magal Security Systems Ltd.

EXPLANATORY NOTE

The following exhibit is attached:

99.1 Press Release: Magal Security Systems Reports Third Quarter 2016 Financial Results dated November 29, 2016.

SIGNATURE

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/Saar Koursh

Saar Koursh

Chief Executive Officer

Date:  November 29, 2016

EXHIBIT INDEX

EXHIBIT NO.	DESCRIPTION
99.1	Press Release: Magal Security Systems Reports Third Quarter 2016 Financial Results dated November 29, 2016.

EX-99.1

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

Magal Security Systems Reports

Third Quarter 2016 Financial Results

YEHUD, ISRAEL, November 29, 2016 -- Magal Security Systems, Ltd. (NASDAQ: MAGS) today announced its financial results for the three and nine months periods ended September 30, 2016. Management will hold an investors’ conference call later today, at 10:00 a.m. Eastern Time and 5:00 p.m. Israel time, to discuss the results.

RESULTS SUMMARY

·   The results include the operations of Aimetis, the Company’s recently acquired video surveillance subsidiary;

·   Revenues increased to $21.3 million, up 57% compared to the prior quarter and by 25% over the third quarter of 2015;

·   Operating income of $1.6 million and net income of $0.6 million in the quarter;

·   Net cash and equivalents of $21.2 million at quarter-end, subsequent to statement date Magal completed a successful rights offering to shareholders, adding $23.8 million to its cash position in early October 2016.

THIRD QUARTER 2016 RESULTS

Revenues in the third quarter of 2016 were $21.3 million, an increase of 25.5% compared with revenues of $17 million in the third quarter of 2015 and an increase of 56.6% compared with revenues of $13.6 million in the prior quarter.

Gross profit in the third quarter of 2016 was $10.9 million, or 51.1% of revenues, compared with gross profit of $8.4 million or 49.6% of revenues in the third quarter of 2015 and gross profit of $6.1 million, or 44.5% of revenues, in the prior quarter. The variance in the gross margin was due to the mix of projects and products sold in the quarter.

Operating expenses in the third quarter increased to $9.3 million compared to $7.2 million in the third quarter of 2015. The majority of the increase was due to increased expenses following the Aimetis acquisition.

Operating income in the third quarter of 2016 was $1.6 million compared to operating income of $1.3 million in the third quarter of 2015 and an operating loss of $2.2 million in the prior quarter.

Net income in the third quarter of 2016 was $0.6 million, or $0.04 per share, compared to net income of $0.9 million, or $0.05 per share, in the third quarter of 2015 and a net loss of $2 million or ($0.12) per share in the prior quarter of 2016.

Cash, short term deposits and restricted deposits, net of bank debt, as of September 30, 2016, was $21.2 million, or $1.29 per share, compared with cash and short term deposits, net of current bank debt, of $31.1 million, or $1.90 per share, at December 31, 2015. On April 1, 2016, Senstar, Magal’s wholly-owned Canadian subsidiary acquired Aimetis for approximately $15.2 million in cash.

Cash and cash equivalents, do not reflect the proceeds from the Company’s rights offering which concluded on September 30, 2016. The Company sold 6,170,386 shares in the offering and received $23.8 million in proceeds in early October 2016.

MANAGEMENT COMMENT

Commenting on the results, Mr. Saar Koursh, CEO of Magal, said, “We are pleased with these results, growing our top line and demonstrating a fair profitability level. These results support our expectations that the second half of 2016 will be better than the first half.  In particular, we saw broad strength across our product portfolio as well as within our focus region, in North America. We see further potential in this region, with investments in critical sites and border security.”

“We are strongly encouraged by the support of our shareholders who participated in our rights offering, which significantly strengthened our balance sheet. This will enable us to take advantage of many of the opportunities we are seeing in our end markets,” continued Mr. Koursh.

INVESTORS’ CONFERENCE CALL INFORMATION:

The Company will host a conference call later today, November 29, 2016, at 10:00 a.m. Eastern Time and 5:00 p.m. Israel time.

To participate, please call one of the following teleconferencing numbers:

US: 1 888 668 9141; Israel: 03 918 0609; UK: 0 800 917 5108; Intl.: +972 3 918 0609

If you are unable to connect using the toll-free numbers, please try the international dial-in number.

A replay of the call will be available on the Company’s website for three months from the day after the call. The link to the replay will be accessible at www.magal-s3.com.

ABOUT MAGAL S3

Magal S3 is a leading international provider of solutions and products for physical and cyber security, as well as safety and site management. Over the past 45 years, Magal has delivered tailor-made security solutions and turnkey projects to hundreds of satisfied customers in over 80 countries – under some of the most challenging conditions.

Magal S3 offers comprehensive integrated solutions for critical sites, managed by Fortis4G – our 4th generation, cutting-edge PSIM (Physical Security Information Management system). The solutions leverage our broad portfolio of homegrown PIDS (Perimeter Intrusion Detection Systems), advanced VMS with native IVA and Cyber Security solutions.

Forward Looking Statements

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.

For more information:

Magal S3 Ltd. Saar Koursh, CEO Tel: +972 3 539 1421 E-mail: elishevaa@magal-s3.com Web:www.magal-s3.com   GK Investor Relations Ehud Helft / Gavriel Frohwein Tel: (US) +1 646 688 3559 E-mail: magal@gkir.com

* Tables to follow *

MAGAL S3 LTD.

 UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All numbers except EPS expressed in thousands of US$)

	Three Months Ended September 30,							Nine Months Ended September 30,
	2015		2016			% change		2015			2016			% change
Revenue	$	17,011	$	21,341			25.5	$	44,466		$	47,573			7
Cost of revenue		8,573		10,435					24,315			24,354
Gross profit		8,438		10,906			29.2		20,151			23,219			15.2
Operating expenses:
Research and development, net		1,031		1,788			73.4		3,065			5,044			64.4
Selling and marketing		4,467		5,445			21.9		10,678			12,486			16.9
General and administrative		1,652		2,097			26.9		4,941			5,717			15.7
Total operating expenses		7,150		9,330			30.5		18,684			23,247			24.4
Operating income (loss)		1,288		1,576					1,467			(28	)
Financial income (expenses), net		758		(491	)				504			(1,047	)
Income (loss) before income taxes		2,046		1,085					1,971			(1,075	)
Taxes on income		1,172		403					1,379			752
Net income (loss)		874		682					592			(1,827	)
Income (loss) attributable to non-controlling interests		10		35					(12	)		14
Net income (loss) attributable to Magal shareholders'		864		647					604			(1,841	)
Basic net earnings (loss) per share	$	0.05	$	0.04				$	0.04		$	(0.11	)
Diluted net earnings (loss) per share	$	0.05	$	0.04				$	0.04		$	(0.11	)
Weighted average number of shares used in computing basic net earnings (loss) per share		16,377,589		16,442,914					16,334,337			16,413,660
Weighted average number of shares used in computing diluted net earnings (loss) per share		16,467,839		16,536,949					16,432,110			16,413,660

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015 %		2016 %		2015 %		2016 %
Gross margin		49.6		51.1		45.3		48.8
Research and development, net as a % of revenues		6.1		8.4		6.9		10.6
Selling and marketing as a % of revenues		26.3		25.5		24.0		26.2
General and administrative  as a % of revenues		9.7		9.8		11.1		12.0
Operating margin		7.6		7.4		3.3		N/A
Net  margin		5.1		3		1.4		N/A

MAGAL S3 LTD.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All numbers expressed in thousands of US$)

	December 31,		September 30,
	2015		2016
CURRENT ASSETS:
Cash and cash equivalents	$	27,319	$	10,191
Short-term bank deposits		3,055		7,031
Restricted deposits		786		3,935
Trade receivables, net		13,706		16,178
Unbilled accounts receivable		5,597		4,287
Other accounts receivable and prepaid expenses		2,107		3,141
Inventories		7,879		6,930
Total current assets		60,449		51,693
LONG TERM INVESTMENTS AND RECEIVABLES:
Long-term trade receivables		617		410
Long-term deposits and restricted bank deposits		136		121
Severance pay fund		1,761		1,745
Deferred income taxes		1,055		626
Total long-term investments and receivables		3,569		2,902
PROPERTY AND EQUIPMENT, NET		5,415		5,579
GOODWILL AND OTHER INTANGIBLE ASSETS, NET		5,563		17,506
TOTAL ASSETS	$	74,996	$	77,680

	December 31,			September 30,
	2015			2016
CURRENT LIABILITIES:
Trade payables	$	3,185		$	3,908
Customer advances		2,520			2,530
Other accounts payable and accrued expenses		10,748			12,424
Total current liabilities		16,453			18,862
LONG-TERM LIABILITIES:
Long-term bank debt and other long-term payables		15			285
Deferred income taxes		173			178
Accrued severance pay		2,660			2,667
Total long-term liabilities		2,848			3,130
SHAREHOLDERS' EQUITY
Share Capital: Ordinary shares of NIS 1 par value -
Authorized: 39,748,000 shares at December 31, 2015 and September 30, 2016; Issued and outstanding: 16,398,872 shares at December 31, 2015 and 16,454,362 shares at September 30, 2016		4,968			4,983
Additional paid-in capital		69,888			93,937
Receivables on account of shares		-			(23,818	)
Accumulated other comprehensive loss		(1,850	)		(1,174	)
Foreign currency translation adjustments (stand alone financial statements)		406			1,304
Accumulated deficit		(17,629	)		(19,470	)
Total shareholders' equity		55,783			55,762
Non-controlling interest		(88	)		(74	)
TOTAL SHAREHOLDERS' EQUITY		55,695			55,688
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	74,996		$	77,680