OMNIQ Corp (OMQS)

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OMNIQ Receives $2.4 Million Purchase Order From Fortune 500 U.S. Retailer with Footprint of More Than 2,200 Stores

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Published: Jan 21, 2020 8:30 a.m. ET

New follow-on order is for data collection, computing, and communication equipment used in retailer's logistics system to support expanding operations

SALT LAKE CITY, Jan. 21, 2020 (GLOBE NEWSWIRE) -- OMNIQ Corp. (otcqb:OMQS) ("Omniq or "the Company"), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, announces that its Quest division has received a purchase order totaling $2.4 million from a major U.S.-based retail chain to supply data collection, computing, and communication equipment in support of its expanding operations.

OMNIQ's state-of-the-art technology and equipment can be implemented to improve logistics efficiencies that enable better control of shipping/receiving and inventory management. For this order, OMNIQ will provide rugged mobile tablets for data collection and communication which will be integrated with the customer's existing logistic system.

Shai Lustgarten, President and Chief Executive Officer at Omniq, stated, "We are delighted to start fiscal year 2020 with this new $2.4M purchase order demonstrating the continued confidence in our solutions from one of the largest retailers in the U.S. With our customer base of loyal Fortune 500 companies and our strong performance in the first nine months of 2019, which included revenue of $45 million, we believe we are well positioned for future growth and profitability. Furthermore, we are focused on implementing our innovative and proprietary Artificial Intelligence - Machine Vision solutions in the multi-billion dollar Supply Chain industry, improving efficiencies, eliminating errors, and lowering costs by enabling data collection and advanced data analytics tools."