TMCnet News
OMNIQ Corp. Receives Orders Totaling $5.5M From Leading U.S. Supermarket Chain for Real-Time Data Collection and Analysis As Part of Technology Enhancement
SALT LAKE CITY, June 25, 2020 (GLOBE NEWSWIRE) -- OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, announced that it has received purchase orders during the month of June with a total value of approximately $5.5 million from one of the largest U.S. supermarket chains. The orders are for the supply of mobile data collection, computing and communications equipment. OMNIQ is providing a suite of solutions that enable a more “contactless” approach to the customer’s retail and logistics operations. The hardware OMNIQ is providing, which includes rugged handheld mobile computers and barcode printers, is designed to enhance the productivity of the retail workforce by providing the ability to collect and track data using integrated features through handheld devices, with the fastest and most dependable wireless connection inside and outside four walls. The industrial-designed device improves efficiencies by enabling quick and accurate control of data collection, processing, shipping/receiving and inventory management. Shai Lustgarten, President and CEO of OMNIQ, stated, "We have consistently demonstrated our value as a source of new technologies and hardware that enable our customers to operate at the highest levels of safety and efficiency. We’re pleased to continue to build upon our partnership with this valued customer, one of the largest retail corporations in the U.S., as they significantly upgrade and improve the efficiency of their operations. Our solutions embody next generation enterprise technology that’s as easy to use as a smartphone, with the durability to perform well in warehouses and other industrial settings, while driving employee productivity and keeping data secure. “If we’ve learned anything from the COVID-19 virus, it’s the importance of hands-free, automated solutions to protect employees as well as end customers. Particularly in the retail grocery industry, the less hand-to-hand transfer of items such as produce from warehouse to point of sale, the safer everyone in the supply chain will e, and our products and solutions heighten the capability of ‘touch free’ supply chain management. We look forward to working with existing and new customers as they rethink their logistics and supply chain operations with an eye to more ‘contactless’ interactions. We believe our proprietary AI-based solutions are well positioned to contribute significant value to the Supply Chain as well as to the Smart City, Public Safety and Traffic Control verticals as logistics and supply chain operations continue to evolve to a more touchless approach.” About OMNIQ Corp. OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad. The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. Information about Forward-Looking Statements “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis , the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law. Investor Contact: |