RISHON LEZION, Israel, April 06, 2020 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC), a global provider of intelligent systems and services for production and logistics, announced today that its Supply Chain Division has received orders totaling $560,000 for electronic components. The orders are from a new American customer and are for delivery through the years 2020-22.
Avidan Zelicovski, BOS’ President, stated: “I am pleased with these orders from a new US customer and we expect for additional orders from this client during year 2020. We continue to work to expand our business and client base of electronic manufacturers in the US.”Eyal Cohen, BOS’ CEO, stated: “In 2019, the revenues of the Supply Chain division from the US market amounted to $900,000. This order from a new US customer is significant and strategically important. The US is our target market for the year 2020 for both our Supply Chain Division and Intelligent Robotics and RFID division, and we are strengthening our US sales and operations platform. In addition to the subsidiary of our Supply Chain division located in New York, we established in December 2019 a sales and support office in Texas for our Robotics business.”About BOS:BOS is a global provider of intelligent systems and services for production and logistics.  BOS’ Robotics and RFID Division offers intelligent robotics and RFID systems for industrial and logistics processes as well as for retail store management. BOS’ Supply Chain Division provides electronic components, mainly for the aerospace, defense and other industries worldwide. Its services include the consolidation of components from a vast number of suppliers, long term scheduling and kitting.  For more information, please visit: www.boscorporate.com or contact:For more information: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 a 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, 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; risks associated with completing and successfully integrating an acquisition with BOS’s existing business; and additional risks and uncertainties detailed in BOS’ periodic reports and registration statements filed with the U.S. 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.
Bay Street News