RISHON LE ZION, Israel, Sept. 14, 2022 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ:BOSC) today announced that its supply chain division has received an order for $2.7 million from an Israeli customer of the defense industry.
Avidan Zelicovski, President of BOS, said: “This is an order from an existing Israeli customer for delivery through 2023. This is an addition to orders totaling $1 .1 million dollars that this client has spent since the beginning of the year. This order demonstrates the strong added value of our supply chain services to industrialists in the defense industry. The Supply Chain division’s backlog has now increased to a record high of $20.2 million, compared to a backlog of $8.9 million in September 2021.”
BOS provides services and systems for production and inventory management in three channels:
- Services – The Supply Chain division provides inventory sourcing 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 tailor-made robot cells for industrial and logistics processes.
Safe Harbor Regarding Forward-Looking Statements
The forward-looking statements contained herein reflect management’s current beliefs regarding future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contained 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, among others, the dependence of sales generated by one or a few major customers, the uncertainty of BOS’s ability to maintain current gross profit margins, the inability to keep up with or outpace technology and to succeed in a highly competitive industry environment, inability to successfully integrate and realize the potential benefits of acquiring the business operations of Imdecol Ltd. (the Robotics business line) and Dagesh Inventory Counting and Maintenance Ltd., inability to maintain marketing and distribution agreements and expand our business in overseas markets, uncertainty about the prospects of legal claims against BOS , the effect of exchange rate fluctuations, general global economic conditions, the impact of the COVID-19 virus and the continued availability of financing for working capital purposes and to refinance outstanding debt; and additional risks and uncertainties detailed in BOS’s periodic reports and registration statements filed with the United States Securities and Exchange Commission. BOS undertakes no obligation to publicly update or revise these forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which such statements may be based, or which may affect the likelihood that actual results differ from those set forth in the forward-looking statements.