BOS Received Notice On Increase By Approximately $ 10,000,000 Of The Value Of An Existing Frame Agreement With A Strategic
Customer In The Aircraft Industry
RISHON LEZION, Israel, November 10, 2008 /GLOBE NEWSWIRE/ B.O.S.
Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ:BOSC; TASE:
BOSC) a leading provider of comprehensive Mobile and RFID solutions for the
enterprise and of Supply Chain Solutions, announced that its U.S. supply chain
division, Summit Radio Corp. (“Summit”), received a notice from a strategic
Latin American customer engaged in the aircraft industry of an approximately
$10,000,000 increase to an existing frame agreement for the sale of components.
The initial agreement, announced on May 28, 2008, provides for a framework for
orders by the customer potentially amounting to up to $25 million during an
initial five-year term (until 2012). Following the increase, the agreement provides
for a framework for orders by the customer potentially amounting to up to $35
million during the same period.
The contract may be extended for additional five-year terms.
Shmuel Koren, BOS’s President and CEO said: “This is great news. The increase
of the scope of the agreement by this strategic customer reflects our proven
ability in providing comprehensive supply chain solutions as well as Summit’s
exceptional reputation, in products and service, amongst leading customers in
the global aircraft and aerospace industry.
Andrew Levi, Head of Supply Chain Solutions Americas commented: “This
addition to our agreement further emphasizes our increasing strength as a
supply chain leader in the military aerospace industry, helping our customers in
consolidating their vendor base and providing greater efficiency.”
B.O.S. Better Online Solutions Ltd. (“BOS”) was established in 1990.
BOS’s operations consist of:
(i) Fully integrated Mobile and RFID Solutions that are offered either as
stand alone products or as full Solutions combined of:
(a) Hardware Devices – A Mobile and RFID Infrastructure with an automatic identification and data collection equipment based on RFID and barcode technology; and (b) Middleware – A variety of proprietary Servers intended to receive data from Hardware, process it and transfer it to the Software Applications; and
(c) Software Applications – PointAct application platform for
implementation of various business organizational processes.
(ii) Supply Chain Solutions- reselling electronic systems and components for security, and aerospace manufacturers.
BOS is traded on NASDAQ and on the Tel-Aviv stock exchange. Our website is
For further information please contact:
B.O.S Better Online Solutions Ltd.
Mr. Eyal Cohen, CFO, +972-3-954-1000
Israeli Investor Relations – please contact
Mr. Zvi Rabin +972 50-560-0140
U.S. Investor Relations – please contact
Ms. Leslie Wolf-Creutzfeldt
The forward-looking statements contained herein reflect management’s current
views with respect to future events and financial performance. These forwardlooking statements are subject to certain risks and uncertainties that could cause
the actual results to differ materially from those 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, amongst others,
the dependency of sales being generated from one or few major customers, the
uncertainty of our being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive
industry, inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS; and additional risks and uncertainties detailed in BOS’s periodic reports and registration statements filed with the U.S.
Securities Exchange Commission. BOS undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.