November 13, 2013

Micronet Enertec Technologies, Inc. Reports Third Quarter and Nine Months Financial Results

* Third quarter revenues up 111% to $8 million compared to third quarter 2012
* Third quarter gross margin of 45% compared to 18% in 2012
* Nine-month revenues reached $26.1 million up from $8.2M in 2012
* Total cash and marketable securities: $20.3 million

EMERSON, N.J., November. 14, 2013 /PRNewswire/ -- Micronet Enertec Technologies, Inc.
(MICT), a developer and manufacturer that integrates and globally markets rugged computers, tablets and computer-based systems for the commercial Mobile Resource Management (MRM) market and for the defense and aerospace markets, today announced financial results for the third quarter and nine months ended September 30, 2013.


"During the quarter, we worked diligently to build our sales pipeline and to improve our margins, and we achieved an increase to 45% in our gross margins due to improved efficiencies in our commercial production lines combined with a higher margin product mix. Also, we continued our focus on introducing new products and penetrating new segments in the growing MRM market. Our innovative technologies, product reliability, and attention to customer demands has expanded our opportunity in the long haul fleet market and opened up a new market segment-local fleets-for us. We are excited about the momentum we are building with new clients and look for sales to ramp rapidly in this new segment which we consider to be the largest and fastest growing segment in the MRM industry”, stated David Lucatz, Chief Executive Officer of Micronet Enertec Inc.


“In addition, we reorganized our MRM sales force in the U.S, and we secured new VARs (Value Added Resellers) and service providers to the local fleet industry. This is the fastest growing segment of the MRM market. We are confident that we have a strong foundation to support our growth and enable us to gain market share in the coming quarters”. Read More from Pdf...

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