Arotech Corporation (Nasdaq GM: ARTX) today announced that its Power Systems Division has recently received $17 million in new orders for batteries and power systems.
Approximately $10 million of the orders was from a foreign Defense Ministry for military batteries and chargers for tactical communication systems. The remaining $7 million was for batteries and chargers for a variety of customers. $1 million worth of the orders has already been delivered.
"This is a very large mix of orders that includes an important order to a prestigious customer," commented Arotech's President and Chief Executive Officer, Steven Esses. "We are pleased with our growing sales to existing as well as new customers, all of whom appreciate the military-grade technology, build quality, and stability of our batteries and power systems. These orders start the year with positive momentum, which I expect will contribute to our anticipated growth in revenue and profit during 2015."
Source: Arotech Corporation
Date: Jan 12, 2015