BOS Announces Expansion of Supply Chain Product Offerings
Rhea-AI Summary
BOS Better Online Solutions (NASDAQ: BOSC) has announced the successful launch of a new Wiring and Cabling product line within its Supply Chain Division. This expansion complements their existing electromechanical connectors offering and aims to increase revenues, particularly in the defense sector. Since the line's introduction in September 2024, the company has secured orders worth $960,000. The expansion leverages existing sales and operations infrastructure to broaden offerings to current customers.
Positive
- Secured $960,000 in orders within first three months of new product line launch
- Strategic expansion into complementary product line leveraging existing infrastructure
- Enhanced revenue potential in defense sector through product portfolio expansion
Negative
- None.
News Market Reaction
On the day this news was published, BOSC gained 0.29%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
RISHON LE ZION, Israel, Dec. 12, 2024 (GLOBE NEWSWIRE) -- BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC), a global integrator of supply chain technologies, today announced the successful launch of a new product line within its Supply Chain Division: a Wiring and Cabling line.
These wiring and cabling products complement the electromechanical connectors that BOS currently supplies to its customers, enabling the Company to increase revenues—particularly within the defense sector.
Since the introduction of the Wiring and Cabling line in September 2024, BOS has already secured
Avidan Zelicovski, President of BOS, commented:
“A key element of our growth strategy is to broaden our offerings to existing customers. Our expansion into wiring and cabling reflects our ability to identify and meet customer needs accurately. The synergy between this new product line and our established sales and operations infrastructure has already resulted in significant orders in a relatively short time.”
About BOS Better Online Solutions Ltd.
BOS integrates cutting-edge technologies to streamline and enhance supply chain operations across three specialized divisions:
- Intelligent Robotics Division: Automates industrial and logistics inventory processes through advanced robotics technologies, improving efficiency and precision.
- RFID Division: Optimizes inventory management with state-of-the-art solutions for marking and tracking, ensuring real-time visibility and control.
- Supply Chain Division: Integrates franchised components directly into customer products, meeting their evolving needs for developing cutting-edge products.
Safe Harbor Regarding Forward-Looking Statements
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. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or few major customers, the uncertainty of BOS 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, the effect of exchange rate fluctuations, general worldwide economic conditions, the continued availability of financing for working capital purposes and to refinance outstanding indebtedness; and additional risks and uncertainties detailed in BOS’ periodic reports and registration statements filed with the US Securities and Exchange Commission.
In October 2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted a series of attacks on civilian and military targets. Hamas also launched extensive rocket attacks on Israeli population and industrial centers located along Israel’s border with the Gaza Strip and in other areas within the State of Israel. Following the attack, Israel’s security cabinet declared war against Hamas and a military campaign against these terrorist organizations commenced in parallel to their continued rocket and terror attacks. Moreover, in response to extensive rocket attacks by Hezbollah on Israel, Israel has launched a military campaign in Lebanon. The clash between Israel and Hezbollah in Lebanon, may escalate in the future into a greater regional conflict. It is currently not possible to predict the duration or severity of the ongoing conflicts or their long term effects on our business, operations and financial conditions. The ongoing conflicts are rapidly evolving and developing, and could disrupt our business and operations, interrupt our sources and availability of supply and hamper our ability to raise additional funds or sell our securities, among others.
BOS undertakes no obligation to publicly update or revise any 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.
For additional information, contact:
Eyal Cohen, CEO
+972-542525925 | eyalc@boscom.com
FAQ
How much in orders has BOSC secured from its new Wiring and Cabling line since September 2024?
What new product line did BOSC launch in September 2024?
Which sector is BOSC targeting with its new Wiring and Cabling product line?
How does the new Wiring and Cabling line complement BOSC's existing products?
