RISHON LEZION, Israel, June 26, 2019 (GLOBE NEWSWIRE) -- B.O.S Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC), a global provider of RFID and Robotic systems and of Supply Chain solutions to enterprises, announced today that it has received an $870,000 order for a robotic system from a U.S. manufacturer. The order is expected to be delivered by the fourth quarter of 2019.
Eyal Cohen, BOS' Co-CEO and CFO, stated: "I am very pleased to announce this first significant order based on our recent acquisition of Imdecol, a global integrator and manufacturer of robotic systems. We have acquired Imdecol because we believe that their advanced technology is an excellent enhancement to our existing product offerings. The robotic system ordered by the U.S. manufacturer is designed to increase efficiency in certain industrial processes through the use of robots instead of manual labor. This order demonstrates the global marketplace potential for the use of our robotic systems in the manufacturing sector, among others.”
Yuval Viner, BOS' Co-CEO, stated: “There is a considerable opportunity to grow sales of our robotic solutions in the United States and we are launching targeted sales and marketing strategy to capture these opportunities. This includes increased technical and marketing support to our existing and new sales representatives in the U.S. as well as expanding our presence at multiple trade shows.”
B.O.S is a global provider of RFID and Robotic systems and of Supply Chain solutions to enterprises. BOS offers smart automation systems for industrial processes, logistics and retail stores. The Company's Supply Chain division provides electronic components mainly for the aerospace, defense and other industries worldwide including electronic components services of consolidation from a vast number of suppliers, long term scheduling and kitting. For more information, please visit: www.boscorporate.com or contact:
IMS Investor Relations
|Company Contact |
Eyal Cohen, Co-CEO & CFO
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 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.