Micronet Enertec Technologies (NASDAQ: MICT) shares surged 34% this morning after the company said its Mobile Resource Management (MRM) subsidiary Micronet Ltd., via its wholly owned subsidiary Micronet Inc., has received purchase orders valued at approximately $4.3 million for its recently released TREQr5 product. The orders for the ruggedized telematics Android on-board computer were received by a fleet management solutions provider that is a current customer. The purchase order marks the largest order received for the company since 2012 and brings the company’s backlog to a record amount of $13.5 million. “The magnitude of these orders, and the fact that they come from one current customer, serve as further validation that Micronet’s next-generation MRM products are what customers are looking for in this robust and growing market. As the deadline for the Electronic Logging Devices (ELD) government mandate nears, Micronet expects more orders for these products,” Micronet Enertec Technologies CEO David Lucatz stated in the news release.
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About Micronet Enertec Technologies, Inc.
Micronet Enertec Technologies, Inc. (NASDAQ: 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 a multi-billion-dollar 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 multibillion dollar 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, visit www.micronet-enertec.com.
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