Micronet Receives $800,000 Purchase Order from
a Leading U.S. School Bus Fleet Management Solutions Provider
MONTVALE, NJ, February 13 , 2017/PRNewswire/ Micronet Enertec Technologies, Inc. (NASDAQCM: MICT), )announced today that its Mobile Resource Management (MRM) subsidiary Micronet Inc. received a purchase order valued at approximately $800,000 for its all-in-one TREQ®-317 rugged Android tablet, which now supports LTE networks, from a leading American school bus fleet management solutions provider. The Company expects to fulfill the order during the second quarter of 2017.
Utilizing Micronet's TREQ®-317 rugged tablets, the U.S. - based customer will be able to provide comprehensive tracking and improve the efficiency of its yellow bus fleet operations, manage the time and attendance of K-12 fleet drivers, improve vehicle maintenance by using the engine diagnostics and fault code alerts, optimize bus routes and manage student ridership through the single, scalable, integrated, telematics tablet."This marks Micronet’s first order for our all-in-one TREQ®-317 product which supports LTE 4th generation cellular networks. Our development team is rapidly working to meet evolving market demands and plans to release additional new and exciting products later this year," said Ken Wiesner, Chief Executive Officer of Micronet Inc.
About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (MICT) provides high tech solutions for severe environments and the battlefield, including missile defense technologies for Aerospace & Defense and rugged mobile devices for the growing commercial Mobile Resource Management (MRM) market. MICT designs, develops, manufactures and supplies customized military computer-based systems, simulators, automatic test equipment and electronic instruments, addressing the defense industry. Solutions and systems are integrated into critical systems such as command and control, missile fire control, maintenance of military aircraft and missiles for the Israeli Air Force, Israeli Navy and by foreign defense entities. MICT's MRM division develops, manufactures and provides mobile computing platforms for the mobile logistics management market in the U.S., Europe and Israel. American-manufactured systems are designed for outdoor and challenging work environments in trucking, distribution, logistics, public safety and construction. For more information, please visit: www.micronet-enertec.com, the content of which is not incorporated by reference into this press release.
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 when we discuss the timing of fulfilling the TREQ®-317 order, the use and functions of the TREQ®-317 product and our development of new and sophisticated products. 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, 2015 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.
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