Odem, a Member of the BOS Group, Signed in Second Quarter New Contracts for 3.5 Million Dollars to Supply Electronic Components to Customers in the U.S., Asia and Europe
Thursday July 14, 6:53 am ETTERADYON, Israel–(BUSINESS WIRE)–July 14, 2005–B.O.S. Better Online Solutions Ltd. (the “Company” or “BOS”) (Nasdaq:BOSC – News; TASE:BOSC) announced that Odem Electronic Technologies 1992 Ltd., a member of the BOS Group, signed contracts for the supply of electronic components earmarked for the aviation and telecom /medical markets, to customers in the U.S., Asia and Europe. The aggregate amount of orders over the past three months exceeds $3.5 million dollars, and will be supplied in the next quarter.
Avidan Zelichovski, the joint CEO of Odem said that these orders reflect a significant growth in Odem sales, compared to the same period last year and the backlog and growth exceed Odem’s expectations. “Odem is strengthening its position in important markets and building new ones such as in Europe. The Asian market is one of the biggest electronics market in the world including telecom/medical/industrial segments at which our line of components is aiming and the new orders reflect the increasing demand in Asia. Odem as a part of BOS group is following BOS’ strategy to expand. Odem is a profitable company and increasing profitability is our main objective.”
Avidan Zelichovski further commented that “Odem is also taking an important position in the uprising technology of RFID and our products and services in this field put our group in a good position to take on new projects with new pilot projects in the sports, transportation and logistics fields. The RFID technology will be Odem’s growth engine.”
BOS (www.boscorporate.com) is traded on the NASDAQ Stock Exchange in New York (Nasdaq:BOSC – News) and on the Tel-Aviv Stock Exchange (TASE:BOSC) and was established in 1990. Through its subsidiary BOScom it develops and markets three types of products.
- A communications products line provides innovative VoIP solutions to companies and organizations.
- A connectivity products line provides connectivity solutions for IBM computers, from intermediate computers to personal computers and LAN networks.
- Software utilities products line provides solutions for the design, distribution and management documents for a range of operating systems, including mainframe and UNIX.
In addition BOS supplies cellular adapters based on products of Quasar Communication Systems Ltd., whose assets were acquired by BOS, and design components and services through the ODEM Division, based on Odem Electronic Technologies 1992 Ltd. in which a controlling stake was also recently acquired.
The forward-looking statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking 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, including, but not limited to, those risks and uncertainties detailed in BOS’ 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.