Galaxy Next Generation Receives Additional Order Under its Supply Agreement from an OEM Customer
Galaxy Next Generation, Inc. (OTCQB:GAXY) announced a follow-on purchase order from an OEM customer for up to 1,500 audio products aimed at the K-12 education market. This order reinforces the ongoing supply agreement established over a year ago, reflecting the OEM's increased production needs. CEO Gary LeCroy stated that efforts are being made to enhance lead times and component procurement to support this growth. Galaxy's sales are predominantly in the K-12 sector, comprising approximately 90% of its revenue.
- Follow-on purchase order for up to 1,500 units indicates strong OEM relationship.
- Increased production needs reflect growing demand in the K-12 market.
- Investment in shorter lead times and larger component procurement to boost capacity.
- None.
Audio Products and Accessories for the K-12 Education Market
TOCCOA, GA / ACCESSWIRE / April 13, 2021 / Galaxy Next Generation, Inc. (OTCQB:GAXY) ("Galaxy" or the "Company), a provider of interactive learning technology solutions, is pleased to announce that it has received a follow-on purchase order from an OEM customer to provide its innovative audio products and accessories for use in the K-12 education market.
This new release of order(s) under their current Blanket Purchase Order is for up to 1,500 units and demonstrates the strong relationship with the OEM customer as this is a continuance of a supply agreement from over a year ago. The OEM customer has ramped up production needs by placing additional orders for their classroom audio solutions to meet the growing needs of their customers.
Gary LeCroy, Galaxy's Chief Executive Officer, commented, "We continue to work very closely with this OEM customer in order to meet or exceed their end customers' needs and timing. We have invested in shortening lead times and obtaining components in much larger quantities in order to ramp up the build time and sell through timeframe for these customers. Investing in our OEM division is part of our vast expansion plan."
About Galaxy Next Generation, Inc.
Galaxy Next Generation (OTCQB:GAXY) is a provider of interactive learning technology solutions that allows the presenter and participant to engage in a fully collaborative instructional environment. Galaxy's products include Galaxy's own private-label interactive touch screen panel as well as numerous other national and international branded peripheral and communication devices. Galaxy's distribution channel consists of 22+ resellers across the U.S. who primarily sell the Company's products within the commercial and educational market. Galaxy does not control where resellers focus their resell efforts, although generally, the K-12 education market is the largest customer base for Galaxy products - comprising nearly
For additional information, please visit our website at: www.galaxynext.us
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investors Contact:
IR@GalaxyNext.us
P:888-859-1274
SOURCE: Galaxy Next Generation, Inc.
View source version on accesswire.com:
https://www.accesswire.com/640080/Galaxy-Next-Generation-Receives-Additional-Order-Under-its-Supply-Agreement-from-an-OEM-Customer
