Arotech Corporation (NASDAQ:ARTXD)
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From Jun 2019 to Jun 2024
Arotech Corporation (NasdaqNM: ARTXD) announced today
that IES, part of Arotech's Simulation and Training Division, has
experienced a record month in June with 34 units shipped and $1.8M in
new orders. The new orders received included 30 units to the U.S.
Department of Homeland Security for delivery next quarter.
"This record month and other recent orders validates IES's
industry leading position and affirms our dedication to providing the
widest range of simulation based training products and best available
services to the law enforcement sector," said Robert McCue, IES
Director of Business Development. "We understand the importance of
judgmental use-of-force training and the role of IES products in
preparing law enforcement personnel to face today's challenges. We
will continue to further IES's capabilities through the resources now
available as part of Arotech's combined FAAC/IES operations."
"I wish to congratulate IES on this milestone and commend the FAAC
and IES personnel involved in the successful relocation of IES
operations to Ann Arbor," commented Steven Esses, Arotech President
and Chief Operating Officer. "The recent vibrant performance of IES,
coupled with the enhanced production capabilities of the consolidated
FAAC and IES operations, validates our restructuring efforts within
the Simulation and Training Division."
About Arotech's Simulation and Training Division
Arotech's Simulation and Training Division develops, manufactures,
and markets advanced high-tech multimedia and interactive digital
solutions for use-of-force and driver training of military, law
enforcement, security, municipal and private industry personnel. The
division's fully interactive driver-training systems feature
state-of-the-art vehicle simulator technology enabling training in
situation awareness, risk analysis and decision making, emergency
reaction and avoidance procedures, and conscientious equipment
operation. In addition, the division's use-of-force training products
and services allow organizations to train their personnel in safe,
productive, and realistic environments. The division also provides
pilot decision-making support software for the F-15, F-16, F-18, and
JSF aircraft, as well as simulation models for the ACMI/TACTS air
combat training ranges."
Arotech's Simulation and Training Division consists of FAAC
Incorporated and IES Interactive Training Inc.
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, lightweight armoring and advanced zinc-air and
lithium batteries and chargers. Arotech operates through three major
business divisions: Armor, Simulation and Training and Battery and
Power Systems.
Arotech is incorporated in Delaware, with corporate offices in Ann
Arbor, Michigan, and research, development and production subsidiaries
in Alabama, Colorado, Michigan, California and Israel.
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,
including the results of our restructuring program. 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; Arotech's ability to remain listed
on the Nasdaq Stock Market in accordance with the Nasdaq's $1.00
minimum bid price and other continued listing standards; dilution
resulting from issuances of Arotech's common stock upon conversion or
payment of its outstanding convertible debt, which would be
increasingly dilutive if and to the extent that the market price of
Arotech's stock decreases; and other risk factors detailed in
Arotech's most recent Annual Report on Form 10-K for the fiscal year
ended December 31, 2005, as amended, 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.