BOS Intelligent Robotics Division Receives an Order from an Israeli Strategic Customer
BOS Better Online Solutions Ltd. (NASDAQ: BOSC) announced a significant order worth $216,000 from a major Israeli defense manufacturer, marking a pivotal moment for its Intelligent Robotics Division. This initial order aligns with BOS's new strategy to focus sales efforts within the Israeli market. CEO Eyal Cohen expressed optimism that successful fulfillment of this order could lead to future business opportunities. The company is strategically targeting clients with high automation needs to mitigate development risks in custom robotics.
- Received a $216,000 order from a major Israeli defense manufacturer.
- Aligns with the company's new strategy to focus on the Israeli market.
- Potential for additional orders from this customer after successful delivery.
- Dependency on major customers for sales generation.
- Uncertainty in maintaining current gross profit margins.
RISHON LE ZION, Israel, Dec. 23, 2021 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) announced today that its Intelligent Robotics Division has received an order of
Eyal Cohen, BOS's CEO, stated: "This is a positive indication, which supports our new strategy that focuses our sales efforts on the Israeli market. This is an initial order from one of the biggest Israeli manufacturers in the defense sector. We believe that a successful delivery of the first order may lead to additional orders from this customer.
"There is a growing demand for robotics systems in the Israeli market. We target customers which have extensive automation needs and that could place ongoing orders. We carefully choose the projects we undertake in order to reduce the development risks that are associated with custom made robotics systems."
About BOS
BOS provides services and systems for inventory production and management in three channels:
- Services – The Supply Chain division provides inventory procurement and kitting.
- Integration – the RFID division provides off-the-shelf software and equipment to track and manage inventory in the production floor and warehouse.
- Development – the Intelligent Robotics division develops and builds custom-made robotic cells for the industrial and logistic processes.
Contact: Eyal Cohen, CEO
+972-542525925 | eyalc@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 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, failure to successfully integrate and achieve the potential benefits of the acquisition of the business operations of Imdecol Ltd. (the Intelligent Robotics business line), 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; and additional risks and uncertainties detailed in BOS' periodic reports and registration statements filed with the US 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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