DPW Holdings Announces That Its Gresham Worldwide Defense Business Has Received Purchase Orders Totaling Approximately $3,200...
June 10 2020 - 6:30AM
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (“
DPW,” or the “
Company”)
announced that its global defense business, Gresham Worldwide, Inc.
(“
Gresham Worldwide”), has recently received
purchase orders totaling approximately $3.2 million from four
different global defense contractor customers of its operating
subsidiary Microphase Corporation (“
Microphase”).
Gresham Worldwide provides high-quality, highly
reliable bespoke technology solutions for mission critical
applications in the defense, public safety, homeland security,
medical and telecommunications markets. Microphase designs,
develops, and manufactures standard and customized state-of-the-art
RF, microwave, and millimeter-wave components, devices, subsystems
and integrated modules for the worldwide defense and aerospace,
satellite, wireless multimedia and consumer electronics, public
safety and Homeland Security markets. Microphase will perform and
deliver on these recent orders over the remainder of calendar 2020
and throughout 2021.
We strongly believe in the prospects for
Gresham Worldwide,” said Jonathan Read, Gresham Worldwide’s CEO.
“Demand for Gresham’s technology offerings remains strong. This
recent uptick in orders reflects the confidence and the trust that
Gresham has with long life cycle platform programs of ‘blue chip’
customers in defense, aerospace and commercial sectors across the
globe. We anticipate that strong demand and customer confidence
will enable us to achieve significant growth in 2020 and 2021.”
DPW’s CEO and Chairman, Milton “Todd” Ault, III
said, “We are pleased to see the positive development of our
defense business, which demonstrates the progress we are making in
achieving our goals. In conjunction with our corporate realignment,
we are committed to redeploying existing assets and resources with
greater efficiency to take DPW on a path to increased revenue
generation and improvements to its bottom line. DPW has stepped up
its focus on managing and financially supporting our Gresham
Worldwide global defense business with the goal of maximizing the
value returned to shareholders.”
For more information on DPW Holdings and its
subsidiaries, the Company recommends that stockholders, investors
and any other interested parties read the Company’s public filings
and press releases available under the Investor Relations section
at www.DPWHoldings.com or available at www.sec.gov.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding
company pursuing growth by acquiring undervalued businesses and
disruptive technologies with a global impact. Through its wholly
and majority-owned subsidiaries and strategic investments, the
Company provides mission-critical products that support a diverse
range of industries, including defense/aerospace, industrial,
telecommunications, medical, and textiles. In addition, the Company
extends credit to select entrepreneurial businesses through a
licensed lending subsidiary. DPW’s headquarters are located at 201
Shipyard Way, Suite E, Newport Beach, CA 92663;
www.DPWHoldings.com.
Forward-Looking Statements
This press release contains “forward looking
statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These
forward-looking statements generally include statements that are
predictive in nature and depend upon or refer to future events or
conditions, and include words such as “believes,” “plans,”
“anticipates,” “projects,” “estimates,” “expects,” “intends,”
“strategy,” “future,” “opportunity,” “may,” “will,” “should,”
“could,” “potential,” or similar expressions. Statements that are
not historical facts are forward-looking statements.
Forward-looking statements are based on current beliefs and
assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the
Company’s website at www.DPWHoldings.com.
Contacts:
IR@DPWHoldings.com or 1-888-753-2235
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