SuperCom Receives $7.1 Million Follow-On Order by Romania's Ministry of Interior

Rhea-AI Summary

SuperCom (NASDAQ: SPCB) announced a second order valued at approximately $7.1 million from Romania's Ministry of Interior for the National Electronic Monitoring Project. This follows the successful completion of the project's first phase, which had an initial order exceeding $8 million. The delivery is expected within the first half of 2023. CEO Ordan Trabelsi highlighted the company's role in enhancing public safety and emphasized a strong pipeline exceeding $200 million in potential projects. SuperCom's PureSecurity EM Suite offers advanced monitoring solutions, reinforcing its leadership in the electronic monitoring market.

Positive

• Second order received from Romania's Ministry of Interior valued at approximately $7.1 million.
• Follow-up order is expected to be delivered within the first half of 2023.
• Initial order exceeded $8 million, indicating strong project performance.
• Strong pipeline of over $200 million in potential projects.
• SuperCom's technology is positioned as effective in public safety improvement.

Negative

• None.

Order delivery expected within the first half of 2023

TEL AVIV, Israel, March 16, 2023 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, is pleased to announce that, together with its local partner, it received a second order valued at approximately $7.1 million from Romania's Ministry of Interior for its National Electronic Monitoring (EM) Project. This project includes the deployment of SuperCom's PureSecurity EM Suite for domestic violence monitoring, GPS Tracking of offenders, and a home detention monitoring program.

 

After successfully completing the project's first phase and delivery of the initial order valued at over $8 million, a second order was received from the Romanian government, valued at approximately $7.1 million and expected to be delivered within the first half of 2023.

"We are delighted to continue our partnership with the Romanian government, supporting the nation's efforts to improve public safety through innovative technology solutions. This sizable second order, very close to project launch, is a testament not only to the effectiveness of our technology but also to the refined processes of project management and deployment that we crafted over the years," commented Ordan Trabelsi, President & CEO of SuperCom.

"With this additional order, SuperCom continues to solidify its position as a leader in the electronic monitoring market and a trusted partner to governments worldwide. With a pipeline of over $200 million of potential projects, a strong base of recurring revenues, and high win rates in competitive tenders, we continue to execute our global growth strategy," Ordan continued.      

"We are proud of our team's hard work and dedication during this large-scale project's installation and deployment phase. SuperCom is committed to continuously delivering high-quality results as well as successful and timely project implementation. We are excited to move to the project's next stage and expect to secure more valuable orders from this customer," Ordan concluded.

SuperCom's PureSecurity Suite is an end-to-end electronic monitoring solution with state-of-the-art GPS tracking, communication, monitoring technologies, and a secure software platform providing real-time tracking and reporting. The system was designed specifically to meet the needs of correctional facilities and law enforcement agencies, providing them with the tools they need to manage offenders effectively and ensure public safety.

About SuperCom

Since 1988, SuperCom has been a global provider of traditional and digital identity solutions, providing advanced safety, identification, and security solutions to governments and organizations, both private and public, throughout the world. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance and border control services, SuperCom has inspired governments and national agencies to design and issue secure Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one field-proven RFID & mobile technology and product suite, accompanied by advanced complementary services for various industries including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, livestock monitoring, and building and access automation. For more information, please visit SuperCom's website, www.supercom.com 

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded or followed by or that otherwise include the words "believes", "expects", "anticipates", "intends", "projects", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical or current facts. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from the statements made. Examples of these statements include, but are not limited to, statements regarding business and economic trends, the anticipated effects of the COVID-19 outbreak on travel and physical locations, the levels of consumer, business and economic confidence generally, the duration of the COVID-19 outbreak and severity of such outbreak, the pace of recovery following the COVID-19 outbreak, status of contractual awards and related commitments and contingencies, the effect on our supply chain, our ability to implement cost containment and business recovery strategies and resulting anticipated impact of such outbreak on our business, financial condition and results of operations, the adverse effects of the COVID-19 outbreak on our business or the market price of our ordinary shares, and other risks and uncertainties described in the forward looking statements and in the section captioned "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 4, 2022, our reports on Form 6-K filed from time to time with the SEC and our other filings with the SEC. Except as required by law, we do not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

SuperCom Investor Relations:

ir@supercom.com

Kirin Smith
PCG Advisory
ksmith@pcgadvisory.com

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SOURCE SuperCom

FAQ

What is the value of SuperCom's latest order from Romania?

The latest order from Romania's Ministry of Interior is valued at approximately $7.1 million.

When is the delivery expected for SuperCom's order?

The delivery for SuperCom's order is expected within the first half of 2023.

What was the value of the first order received by SuperCom from Romania?

The first order received by SuperCom from Romania was valued at over $8 million.

What is the total potential project pipeline for SuperCom?

SuperCom has a pipeline of over $200 million in potential projects.

What technology does SuperCom provide for monitoring?

SuperCom provides the PureSecurity EM Suite, which includes GPS tracking and electronic monitoring solutions.