BOS Supply Chain Division Receives an Order in the Amount of $2.4 million

Rhea-AI Summary

BOS Better Online Solutions Ltd. (NASDAQ: BOSC) announced a $2.4 million order from a current customer in Israel, expected to be delivered this year. This reflects the strong demand for the company's Supply Chain Division services, primarily catering to the Israeli defense industry. President Avidan Zelicovski noted a record backlog and anticipated growth in demand linked to military operations in Europe. BOS specializes in inventory management, with services ranging from procurement and kitting to RFID solutions and custom robotics.

Positive

• Received a $2.4 million order indicating strong demand.
• Record backlog in the Supply Chain Division.
• Growth in sales expected due to military operations in Europe.

Negative

• None.

RISHON LE ZION, Israel, March 28, 2022 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. ("BOS" or the "Company") (NASDAQ: BOSC) announced today that its Supply Chain Division has received an order in the amount of $2.4 million for delivery this year.

Hagit Eliyahu, VP of Sales of the Supply Chain Division, stated: “This is an order from an existing customer in Israel, and it demonstrates the strong added value of our supply chain services to manufacturers.”

Avidan Zelicovski, BOS’ President, stated: “I am encouraged by the growing demand for the Supply Chain division’s services, that is reflected in a record level of backlog. Most of the Supply Chain division’s sales are to the Israeli defense industry, and I believe this trend will continue this year in view of the military operations in Europe.”

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 recent order did BOSC announce?

BOS announced a $2.4 million order from an existing customer in Israel.

How does the recent order impact BOSC's financials?

The $2.4 million order reflects strong demand and contributes positively to the company's revenue.

What is the main market for BOSC's Supply Chain Division?

Most sales from the Supply Chain Division are directed towards the Israeli defense industry.

What factors are driving demand for BOSC's services?

Increased demand is driven by military operations in Europe.