Arotech Receives Over $1.3 Million in New Helicopter Armor Orders
Orders Continue for Armour of America's New Lightweight Armor
AUBURN, AL -- (MARKET WIRE) -- 09/02/09 -- Arotech Corporation (NASDAQ: ARTX), a provider of quality defense and security products for the military, law enforcement and security markets, announced today that its Armour of America (AoA) unit has received orders valued at more than $1.3 million for armoring helicopters and fixed wing aircraft for certain unnamed military customers. The armor ordered is AoA's newest lightweight armor introduced earlier this year, which includes protection for the cockpit and the cabin, and can easily be removed for operations outside the danger zone.
"This new order is representative of the continued acceptance around the world of Amour of America's growing list of extensive new products," said Robert S. Ehrlich, Arotech's Chairman and CEO. "We are pleased with AoA's continued growth and remain optimistic about the division's turnaround."
About Arotech's Armor Division
Arotech's Armor Division is an innovative leader in lightweight armoring for vehicles, aircraft and their operators. The Armor Division has years of battlefield and commercial protection experience and has provided life saving protection under the most extreme conditions.
About Arotech Corporation
Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets. Arotech provides multimedia interactive simulators/trainers, lightweight armoring and advanced zinc-air and lithium batteries and chargers. Arotech operates through three major business divisions: Armor, Training and Simulation, and Batteries 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, including the effect of any share repurchases by Arotech. 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; dilution resulting from issuances of Arotech's common stock upon conversion or payment of its outstanding convertible debt, which would be increasingly dilutive if and to the extent that the market price of Arotech's stock price decreases; and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2008 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.
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