The orders, for wireless point-of-sale terminals, will be delivered during the third quarter of this year.
Rosh Ha'ayin-based Lipman Electronics Engineering (Nasdaq:LPMA; TASE:LPMA) has received follow-on orders for its NURIT 8320 landline and NURIT 8000S wireless handheld point of sale (POS) terminals from five large Turkish banks, the company announced today.
The orders are for approximately $13 million worth of Lipman products, with all terminals expected to be delivered during the third quarter of 2004.
Lipman president and CEO Isaac Angel said, "These follow-on orders in addition to orders received from other Turkish banks earlier in the year, further demonstrate Lipman's strong relationship with the Turkish financial institution community. The Turkish banking sector is an advanced market and is very receptive to new technology and its advantages. Turkey has been integral to our long-term growth initiatives since our initial penetration of the market in 1998 and we have demonstrated our ability to meet the Turkish banks request for high quality, reliability and technology."
Lipman shares closed at $23.25 on Nasdaq yesterday, giving the company a market cap of $601.18 million. On the Tel Aviv Stock Exchange this morning, the shares are up 1.03%, at NIS 106.
Published by Globes [online] - www.globes.co.il - on July 13, 2004