March 31, 2016

mict


Micronet Enertec Technologies, Inc.
Announces its Subsidiary’s Financial Results

Montvale, NJ, March 31, 2016 -- Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), a developer and manufacturer of rugged computers, tablets and computer-based systems for the commercial Mobile Resource Management (MRM) – Fleet Management (FM) and Aerospace and Defense markets, announced that:

  • its consolidated subsidiary Micronet Ltd, in which the Company has a controlling interest, has published today its financial results for the fiscal year ended December 31, 2015. Micronet Enertec Technologies filed today with the Securities and Exchange Commission a Current Report on Form 8-K which includes these results.
  • In view of Miconet Ltd's results, the Company expects its consolidated revenues for the fourth quarter of 2015 to increase in comparison to the third quarter of 2015; however, such increase is expected to be significantly lower than the previously anticipated revenue growth.

About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (NASDAQCM: MICT) primarily operates through Enertec Systems 2001 Ltd, its wholly-owned subsidiary, and Micronet Ltd, in which it has a controlling interest.  Micronet operates in the growing commercial 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.

Forward-looking Statement

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 Company’s anticipated revenues and expected growth 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, 2014 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. 

Contact information:
John Nesbett or Jennifer Belodeau
Institutional Marketing Services (IMS)
(203) 972-9200

jnesbett@institutionalms.com

jbelodeau@institutionalms.com

Copyright Micronet Enertec Technologies, Inc 2013