Arotech Receives $3.2 Million In Orders For Batteries And Chargers
ANN ARBOR, Mich., Oct. 31, 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 its Battery and Power Systems Division has recently received $3.2 million in new orders. Of this amount, $2.2 million was repeat orders for batteries and chargers for military applications. The remaining $1 million in orders was for water activated batteries, used primarily for lifejackets.
"We're very pleased with the strong momentum in our battery sales," commented Arotech's Chairman and Chief Executive Officer, Robert S. Ehrlich. "Our batteries are designed for use in critical military and commercial applications, and these types of repeat sales demonstrate that our customers appreciate the quality and durability of the products we provide them. Our technological leadership in batteries is the result of many years of R&D investment. We are focused on maintaining and building that technological edge, and we see significant future potential for Arotech in this realm."
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 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. For more information on Arotech, please visit Arotech's website at www.arotech.com.
Investor Relations Contacts:
Ehud Helft & Kenny Green
CCG Investor Relations
Tel: 1 646 201 9246
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, 2012, as amended, 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.
SOURCE Arotech Corporation