- Purchase orders valued at $3.2 million in aggregate
- Attractive gross margins above company average
- Expected delivery first half of 2019
LOUISVILLE, Ky., Nov. 20, 2018 /PRNewswire/ -- Creative Realities, Inc. ("Creative Realities," "CRI," or the "Company") (NASDAQ: CREX, CREXW), a leading provider of digital marketing solutions, announced that the Company was awarded purchase orders totaling $3.2 million from a new telecommunications client.
Under these purchase orders, Creative Realities will provide software upgrades and services across the US and globally. Revenues from purchase orders are expected to be recognized over the next six months.
Rick Mills, Chief Executive Officer, remarked, "We are proud to receive these purchase orders from this market-leader, highlighting our strong position as a trusted partner to handle complex technology implementations. We expect to benefit further from this relationship as our client continues to invest in next-generation solutions."
About Creative Realities, Inc.
Creative Realities helps retailers and brands use the latest omnichannel technologies to inspire customer engagement within and across commercial environments. Founded over 15 years ago, the firm's evolving client base has led to recognized leadership in design, development, deployment of human centric, behavior-based solutions. The firm has created and delivered consumer/shopper experiences and installations for high-end enterprise level networks, and is actively providing recurring SaaS and support services for growth-driven verticals: Arenas & Stadiums, Automotive, Beauty, Multi-brand/Convenience, and Mass Merch Retail, Fashion /Althleisure, Foodservice/QSR, Financial Services, Wireless/Mobile.
Cautionary Note on Forward-Looking Statements
This press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and includes, among other things, discussions of our business strategies, future operations and capital resources. Words such as "may," "likely," "anticipate," "expect" and "believe" indicate forward-looking statements.
These forward-looking statements may reflect management's present expectations and estimates regarding future expenses, revenue and profitability, trends affecting our financial condition and results of operations, operating efficiencies, revenue opportunities, potential new markets, and the ability of the Company to effectively compete in a highly competitive market. Nevertheless, and despite the fact that management's expectations and estimates are based on assumptions management believes to be reasonable and data management believes to be reliable, the Company's actual results, performance, or achievements are subject to future risks and uncertainties, any of which could materially affect the Company's actual performance. Risks and uncertainties that could affect such performance include, but are not limited to: the adequacy of funds for future operations; future expenses, revenue and profitability; trends affecting financial condition and results of operations; ability to convert proposals into customer orders; the ability of customers to pay for products and services; the impact of changing customer requirements upon revenue recognition; customer cancellations; the availability and terms of additional capital; ability to develop new products; dependence on key suppliers, manufacturers and strategic partners; industry trends and the competitive environment; the impact of the Company's financial condition upon customer and prospective customer relationships; and the impact of losing one or more senior executives or failing to attract additional key personnel. These and other risk factors are discussed in Company reports filed with the Securities and Exchange Commission.
Given these uncertainties, and the fact that forward-looking statements represent management's estimates and assumption as of the date of this press release, you should not attribute undue certainty to these forward-looking statements. We assume no obligation to update any forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements contained in this press release, even if new information becomes available in the future.