BOS’ RFID Division Receives an Order in the amount of $330,000

Rhea-AI Summary

BOS Better Online Solutions Ltd. (NASDAQ: BOSC) announced a significant order worth $330,000 from an Israeli defense customer for warehouse management software and mobile equipment.

This order is projected for delivery through 2023, highlighting the success of the RFID Division.

CEO Eyal Cohen expressed optimism about future collaborations with this customer, particularly regarding products from the Intelligent Robotics division.

Positive

• Received a significant order of $330,000 for warehouse management software and mobile equipment.
• Order strengthens the position of the RFID Division within the defense sector.
• Potential for future business with the customer in the Intelligent Robotics division.

Negative

• None.

RISHON LE ZION, Israel, May 23, 2022 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) announced today that its RFID Division has received an order for an amount of $330,000 from an Israeli defense-industry customer.

Uzi Parizat, VP of sales and marketing of the RFID Division, stated: “This is a significant order for warehouse management software and mobile equipment for tracing inventory. The order is for delivery through the year 2023”.

Eyal Cohen, BOS’ CEO, stated: “I am very pleased that this customer of our Supply Chain division has now placed an order with our RFID division. In the future, we hope to be able to provide this customer also with the customized robotic systems of our Intelligent Robotics division.”

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 Robotics business line) and Dagesh Inventory Counting and Maintenance Ltd., 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; 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.

FAQ

What is the recent order value announced by BOSC?

BOSC announced a recent order valued at $330,000.

Which division of BOSC received the $330,000 order?

The order was received by BOSC's RFID Division.

What products does the $330,000 order include?

The order includes warehouse management software and mobile equipment for inventory tracing.

When is the delivery for the recent order expected?

The delivery for the order is expected throughout the year 2023.

What future opportunities did BOSC's CEO mention regarding the recent order?

BOSC's CEO mentioned potential future collaboration in customized robotic systems.