DPW Holdings’ (DPW) Enertec Systems Wins $4.3 Million Contract Award; Shares Climb
DPW Holdings Inc (NYSE:DPW) announced this morning that Enertec Corporation, the Israel-based defense solutions group of DPW subsidiary Coolisys Technologies, was awarded a $4.3 million second-stage contract award from an Israeli defense and aerospace contractor to supply computer-based command and control missile defense systems.
Zvi Avni, CEO of Enertec, said, “This important win is the result of a multi-year development effort, reinforcing Enertec’s strategic focus on missile defense systems and validating our ability to deliver complex command and control systems. We believe we are well-positioned to pursue additional orders for similar systems from existing and new customers.”
Coolisys’ President and CEO Amos Kohn stated, “This project illustrates Enertec’s growing reputation as an innovative provider of state-of-the-art missile defense and aerospace systems. Coolisys’ acquisition of Enertec in May 2018, as part of our strategy of growth through synergistic acquisitions, is enabling us to increase our revenues and expand our customer base. This win will help to further solidify Coolisys’ position as an advanced aerospace and defense technology supplier for major strategic defense programs.”
In 2015, Enertec developed and manufactured a deployable mobile command & control center for medium range ground-to-air missile defense systems for the same customer. The company expects to deliver a significant portion of the new second-stage project during 2018.
DPW shares reacted to the news, rising nearly 4% to $0.53 in pre-market trading Thursday. DPW has a 1-year high of $5.95 and a 1-year low of $0.49. The stock’s 50-day moving average is $0.57 and its 200-day moving average is $1.13.
DPW engages in the design, development, manufacture, and sale of customized and flexible power system solutions for the medical, military, telecom, and industrial markets. It operates though the North America and Europe geographical segments. The North America segment comprises sales through Microphase, Coolisys, Power-Plus, and DP Lending. The Europe segment includes sales through Digital Power Limited. The company was founded in 1969 and is headquartered in Fremont, CA.