Arotech's Power Systems Division Awarded $10.7 Million in New Contracts and Follow-On Work Orders

ANN ARBOR, Mich., Oct. 29, 2015 /PRNewswire/ -- Arotech Corporation (Nasdaq GM: ARTX) announced today that its Power System Division, which includes UEC Electronics, has been awarded $10.7 million in orders since the Company's last press release in August. Delivery of the products and services associated with these contracts and work orders is anticipated to begin in 2015 and to run through calendar year 2016 and beyond. These awards support the company's current outlook and are included within their previously issued guidance.

The contracts and follow-on work orders received include hybrid power systems orders and vehicle power distribution products. The company's Power Systems Division continues to win important developmental contracts that should lead to larger production efforts in the future.

"We are excited about these recent awards, as they represent the culmination of our patient, hard work in research and development, and in marketing and sales," commented Steven Esses, Arotech's President and CEO. "We believe these orders are the result of a long-term strategy that is focused on successful delivery of cost effective, innovative solutions and products that provide enhanced operational capability and represent significant savings for our customers."  

About Arotech Corporation

Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates two major business divisions: Training and Simulation, and Power Systems.

Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan, and research, development and production subsidiaries in Michigan, South Carolina, and Israel. For more information on Arotech, please visit Arotech's website at www.arotech.com.

Investor Relations Contacts:

Brett Maas / Rob Fink
Hayden IR
(646) 536.7331 / (646) 415.8972
[email protected]

Except for the historical information herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary materially. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Arotech's products; changing economic conditions; delay, cancellation or non-renewal, in whole or in part, of contracts or of purchase orders (including as a result of budgetary cuts resulting from automatic sequestration under the Budget Control Act of 2011); and other risk factors detailed in Arotech's most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and other filings with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.

SOURCE Arotech Corporation

Related Links

http://www.arotech.com