Diversified holding company DPW Holdings (NYSE American: DPW) recently announced that two of the company’s subsidiaries secured $700,000 in debt financing, driving its effort to cut the order backlog for the defense sector businesses of Coolisys Technologies, Inc. including its subsidiary, Enertec Systems 2001, Ltd. and Microphase Corporation Inc. The current backlog of these businesses encompasses $17,500,000. $10,500,000 of the backlog is estimated to have a gross profit margin of 28% for fiscal year 2019 and the remaining $7,000,000 has a gross profit margin of roughly 40%. “This funding is strategic as it begins our renewed efforts to reduce the value in our backlogged orders and spur our anticipated growth from both new and recurring orders throughout 2019. We reiterate that the company’s focus for 2019 has transitioned to revenue growth and profitability and unlocking value for our shareholders through the integration and expansion of our operations within the defense sector. For 2019, Coolisys and the company expect to be able to recognize the full value of all defense sector revenue when compared to 2018, a year of growth through acquisition and marginal revenue recognition,” Coolisys Technologies CEO and president Amos Kohn stated in the news release.
To view the full press release, visit http://ibn.fm/jNWdA
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with global impact. Through its wholly owned subsidiaries and strategic investments, the company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, crypto-mining, and textiles. In addition, the company owns a select portfolio of commercial hospitality properties and extends credit to select entrepreneurial businesses through a licensed lending subsidiary. For more information, visit the company’s website at www.DPWHoldings.com
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