EUGENE, Ore., Sept. 14, 2018 (GLOBE NEWSWIRE) — Quest Solution, Inc. (OTCQB:QUES), a specialty systems integrator focused on field and supply chain mobility, announced it has received purchase orders from a major U.S.-based transportation and logistics firm for the supply of mobile in-truck Communication, Proof of Delivery (POD) and Hours of Service (HOS) equipment. Deliveries will commence in October 2018 and are anticipated to be completed in early 2019, with a total value of approximately $10 million.
Quest will provide mobile terminals with cellular communications, which will act as a multi-modal device allowing end users to collect consolidated data via POD with signature capture, and to monitor HOS with necessary software applications.
Shai Lustgarten, President and CEO at Quest Solution, stated, “These breakthrough purchase orders from a leading transportation services provider mark our entry into the in-truck vertical – a natural expansion of our legacy Supply Chain Vertical – providing consolidated solutions to the logistics needs of large corporations. We believe that this new combined solution will become a significant engine for our future growth and we are focused on leveraging our blue chip and Fortune 500 customer base, to continue to build upon our solid performance in 2018 as demonstrated by our reported $29M revenue for six months ended June 30, 2018.”
“As the Transportation and Logistics industry evolves and seeks consolidated hardware and software solutions for complex logistic needs and compliance with stringent HOS regulations, we believe the market space for our technology will continue to grow as end users retrofit their vehicles to capture and monitor data as needed. Our device solution is not only an efficient and effective means of collecting data but an opportunity for cost savings for fleet and logistics firms looking to comply with changing industry regulations.”
Mr. Lustgarten concluded, “This new project from a longstanding customer demonstrates the ability of our Sales and Engineering Teams to offer valuable solutions which build customer confidence and reliance on Quest. We are consistently looking for selective new technologies with the goal of becoming a technological leader in the growing markets our solutions address.”
About Quest Solution, Inc.
Quest Solution is a Specialty Systems Integrator focused on Field and Supply Chain Mobility. We are also a manufacturer and distributor of consumables (labels, tags, and ribbons), RFID solutions, and barcoding printers. Founded in 1994, Quest is headquartered in Eugene, Oregon, with offices in the United States. Rated in the Top 1% of global solution providers, Quest specializes in the design, deployment and management of enterprise mobility solutions including Automatic Identification and Data Capture (AIDC), Mobile Cloud Analytics, RFID (Radio Frequency Identification), and proprietary Mobility software. Our mobility products and services offering is designed to identify, track, trace, share and connect data to enterprise systems such as CRM or ERP solutions. Our customers are leading Fortune 500 companies from several sectors including manufacturing, retail, distribution, food / beverage, transportation and logistics, health care and chemicals / gas / oil.
Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Quest Solution, Inc.’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, risks related to the sale of Quest Solution Canada Inc. to Viascan Group Inc. and other information that may be detailed from time-to-time in Quest Solution Inc.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting Quest Solution, Inc. please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. Quest Solution, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.
John Nesbett/Jen Belodeau
IMS Investor Relations