October 08, 2013

Micronet Enertec Technologies Awarded a $1.4M
Purchase Order from a Leading Israeli Defense Contractor

- A Follow-On Production Order for Special Units Previously Developed by Enertec
- Enertec's Equipment to be Installed in a State-of-the-Art Airborne System
- David Lucatz (CEO): "This order is for a mission-critical building block of a leading defense system. It reflects a strong confidence in our products and solutions".


EMERSON, N.J., Oct. 8, 2013 /PRNewswire/ -- Micronet Enertec Technologies, Inc. (MICT), announced today that its wholly owned subsidiary, Enertec Systems 2001 Ltd, was awarded a $1.4M follow-on purchase order to provide primary components for integration into an advanced defense airborne system.

The customer is a multi-billion dollar Israeli defense corporation that provides innovative solutions for naval, land, air and space systems. This customer has indicated that MICT may expect follow-on orders over the duration of the program.

David Lucatz, President and CEO of Micronet Enertec Technologies, commented, "Our critical defense components will be installed in a state-of-the-art airborne system. This demonstrates our strong market position as a solution provider and reflects the on-going confidence of our leading Industry customers in the quality and reliability of our products.
As threats increase around the world, advanced defense systems such as the one we support, benefit from growing interest and demand. We are proud to take part in strategic programs such as this one, and we're confident that our technologies and solutions will continue to benefit from these trends."

David Lucatz concluded: "We are pleased with the current backlog of our defense sector, which includes sophisticated components for future state of the art missile defense systems as well as production orders for our previously developed equipment. The defense sector provides MICT with visibility and predictable revenue stream." 

About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc., formerly known as Lapis Technologies, Inc., operates through two companies, Enertec Systems 2001 Ltd ("Enertec"), its wholly-owned subsidiary, and Micronet Ltd ("Micronet"), in which it has a 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.

Micronet Enertec Technologies, Inc. Forward-looking Statement.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Words such as “expect,” “believe,” “intend,” “plan,” “continue,” “may,” “will,” “anticipate,” and similar expressions are intended to identify forward-looking statements.  Actual results may differ materially from those projected in any forward-looking statement.  More detailed information about the risk factors affecting the Company’s performance is contained under the heading “Risk Factors” in the Company’s annual report filed with the SEC, which is available on the SEC’s web site, www.sec.gov.  Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analyses only as of the date hereof.  The Company neither intends to, nor assumes any obligation to, update or revise these forward-looking statements in light of developments that differ from those anticipated.

Contact information:
Miri Segal Scharia

Managing Partner Global Accounts & IPOs
Hayden/ MS-IR LLC
Tel: 917-607-8654
msegal@ms-ir.com

Dina Shir
Micronet Enertec Technologies, Inc.
Tel: +972-544-652806
dina@micronet-enertec.com

 

Copyright Micronet Enertec Technologies, Inc 2013