Arotech Simulation and Training Division Announces Record Month for IES with 34 Units Shipped and $1.8M in New Orders
July 06 2006 - 8:00AM
Business Wire
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.
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