BOS' Supply Chain Division Receives Orders Totaling $300,000
June 25 2020 - 9:00AM
BOS Better Online Solutions Ltd. ("BOS" or the "Company")
(NASDAQ: BOSC), a global provider of intelligent systems and
services for production and logistics, announced today that its
Supply Chain Division has received orders totaling $300,000 for
electronic components. The orders are from an existing customer and
are for delivery this year.
Avidan Zelicovski, BOS' President, stated: "The customer is a
subcontractor of a leading global manufacturer in the defense
industry. We work closely with manufacturers and their
subcontractors around the world, and this yields a consistent
growth in our business. We expect this customer to significantly
increase its orders in the coming months."
Eyal Cohen, BOS' CEO, stated: "Despite the difficult times due
to the Covid-19 virus, we are working as usual and all of our
employees are back. Our Supply Chain and RFID business lines are
doing well. Our main task is to grow our robotics business in the
U.S., and turn it into a profitable business by the first quarter
of year 2021. We are working extensively towards these goals."
Eyal Cohen reiterated the Company’s year 2020 outlook: "We
expect that in 2020 our revenues will exceed our 2019 revenues ($34
million), and that we will be profitable.”
About BOS:
BOS is a global provider of intelligent systems and
services for production and logistics. BOS’ Robotics and RFID
Division offers intelligent robotics and RFID systems for
industrial and logistics processes as well as for retail store
management. BOS' Supply Chain Division provides electronic
components, mainly for the aerospace, defense and other industries
worldwide. Its services include the consolidation of components
from a vast number of suppliers, long term scheduling and
kitting. For more information, please visit our new website:
www.boscom.com or contact:
Eyal Cohen, CEOB.O.S Better
Online Solutions Ltd. +972-542525925eyalc@boscom.com |
Safe Harbor Regarding Forward-Looking
Statements
The forward-looking statements contained herein
reflect management's current views with respect to future events
and financial performance. These forward-looking statements are
subject to certain risks and uncertainties that could cause the
actual results to differ materially from those in the
forward-looking statements, all of which are difficult to predict
and many of which are beyond the control of BOS. These risk
factors and uncertainties include, amongst others, the dependency
of sales being generated from one or a few major customers, the
uncertainty of BOS being able to maintain current gross profit
margins, inability to keep up or ahead of technology and to succeed
in a highly competitive industry, inability to maintain marketing
and distribution arrangements and to expand our overseas markets,
uncertainty with respect to the prospects of legal claims against
BOS, the effect of exchange rate fluctuations, general worldwide
economic conditions, the impact of the COVID-19 virus and
continued availability of financing for working capital purposes
and to refinance outstanding indebtedness; risks associated with
completing and successfully integrating an acquisition with BOS’s
existing business; and additional risks and uncertainties detailed
in BOS' periodic reports and registration statements filed with the
U.S. Securities and Exchange Commission. BOS undertakes no
obligation to publicly update or revise any such forward-looking
statements to reflect any change in its expectations or in events,
conditions or circumstances on which any such statements may be
based, or that may affect the likelihood that actual results will
differ from those set forth in the forward-looking statements.
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