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SOURCE Micronet Enertec Technologies, Inc.
TREQ-VMI Rugged Tablet to be deployed in the Heavy Construction MRM Market Segment
Aggregate Amount of Purchase Order from This Client to Date Reaches $1.6 million
-- This order is an addition to a previous 800K$ order received during the closing period, total of 1.6M$ received from this customer
-- David Lucatz, Chairman: "We continue the momentum, expanding our penetration to new and growing MRM vertical markets."
MONTVALE, N.J., July 1, 2014 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (NASDAQ:MICT), today announced that its subsidiary Micronet Inc, received an additional purchase order totaling $800,000 for its fully portable rugged mobile computing device from a U.S. based MRM service provider. This order follows a previous $800,000 order received before the closing of the recent acquisition announced.
The MRM customer is a leading service provider specializing in Heavy Construction Mobile Resource Management (MRM) solutions as well as in-cab applications for quoting, billing, tracking, alerts, time and attendance, proof of delivery and order management for the contractor and hauler vertical markets. Deliveries are expected to continue till the end of 2014.
The TREQ-VMI is a rugged portable developed for both in-cab and out-of-cabin operations and is fully integrated into corporate information systems.
David Lucatz, Chairman and CEO of Micronet Enertec Inc, stated: "We are expanding our penetration to new, growing MRM verticals. Recently we announced the order for the Transit segment, and now we are excited to follow up with a new order in Heavy Construction, a market well-suited for our rugged TREQ-VMI field-level tablet."
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (MICT), operates through two companies, Enertec Systems 2001 Ltd ("Enertec"), its wholly-owned subsidiary, and Micronet Ltd ( together with its wholly owned subsidiary, Micronet Inc., "Micronet") in which it has a 58.6% controlling interest. Micronet operates in the growing commercial Mobile Resource Management (MRM) market, mainly in the United States. Micronet designs, develops, manufactures and sells rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. Enertec operates in the Defense and Aerospace markets and designs, develops, manufactures and supplies various customized military computer-based systems for missile defense systems, command and control and others. The Company's products, solutions and services are designed to perform in severe environments and battlefield conditions. For more information please visit: www.micronet-enertec.com, the content of which is not incorporated by reference into this press release.
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding the timing of delivery of the order discussed above and penetrating new markets. Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in the company's annual report on Form 10-K for the year ended December 31, 2013, and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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