Arotech Reports Approximately $10 Million in Orders of Batteries and Chargers
ANN ARBOR, Michigan, February 11, 2013 /PRNewswire/ --
Arotech Corporation (NasdaqGM: ARTX), a provider of quality defense and security products for the military, law enforcement and homeland security markets, announced today that in recent months, its Battery and Power Systems Division received orders totaling approximately $10 million.
The orders were for battery and charger products for military and civilian consumption. The applications include communication equipment, night vision surveillance and aviation lifejacket lights. Orders were received from both new customers and existing customers.
"We are encouraged that our existing customers remain committed to our products and services, continually turning to us for their mobile power needs and ordering more and more of our products," commented Robert S. Ehrlich, Arotech's Chairman and Chief Executive Officer. "Furthermore, these orders demonstrate that we are successfully expanding our customer base by winning orders from customers that have not ordered from us in the past. These customers hold strong future growth potential for our business as they, in turn, become our repeat customers."
About Arotech Corporation
Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates through two major business divisions: Training and Simulation, and Battery and Power Systems.
Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan and research, development and production subsidiaries in Alabama, Michigan and Israel.
Except for the historical information herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary materially. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Arotech's products; changing economic conditions; delay, cancellation or non-renewal, in whole or in part, of contracts or of purchase orders (including as a result of budgetary cuts resulting from automatic sequestration under the Budget Control Act of 2011); and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and other filings with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.
Investor Relations Contacts:
Ehud Helft & Kenny Green at CCG
SOURCE Arotech Corporation
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