OMNIQ Corp. Announces Second Quarter Financial Results 2020
Achieved over $26M revenue for first six months of 2020 despite conditions resulting from COVID-19.
- Large Food Industry Orders received in late June have already been delivered in 3rd quarter.
- Launched advanced AI-based solutions including the patented automatic High Occupancy Vehicles Violation Detection System.
- Breakthrough AI-based Public Safety projects in Schools and Universities.
SALT LAKE CITY, Aug. 13, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced its second-quarter financial results for the three and six-month period ended June 30, 2020.
Shai Lustgarten, CEO, commented “We’re living through an unprecedented time, and we are encouraged by our success in achieving sales of over $26M for the six months ended June 30, 2020, which implies over $52M on an annualized basis. While we’ve seen growing interest in our AI technology, some key projects that required hands on and face-to-face meetings have been delayed to Q3 due to the ongoing Covid-19 situation. We are confident that soon we will be able to announce some significant victories mainly in critical Homeland Security lifesaving projects. We believe that we have established ourselves for future success by building a strong sales team combined with a sophisticated R&D team that provide us with world class innovative machine-vision based solutions like the Seetire™ for the multibillion Tire industry and the patented solution to detect HOV violations and enable better traffic flow. We expect to be able to share some commercial news on these innovative solutions in 2021. We see our ability to provide efficient and cost-saving solutions to enhance supply chain and public safety operations as a significant competitive advantage, especially as companies and municipalities focus more intently on “touchless” technology. We remain focused on strengthening our capabilities and expanding the reach of our solutions as we move through 2020.”
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