BUYING MRKL ON THIS NEWS..
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(COMTEX) B: Markland Awarded $9.2 Million in New Orders from U.S. Army Und
r Multi-Year Contract; Total of Company's Recent New
B: Markland Awarded $9.2 Million in New Orders from U.S. Army Under Multi-Year C
ntract; Total of Company's Recent New Orders From US Army Under Omnibus Contract
Now Exceeds $36 Million
RIDGEFIELD, Conn., Feb 3, 2005 (BUSINESS WIRE) -- Markland Technologies, Inc.
(OTCBB: MRKL), a defense and homeland security company transforming advanced
laboratory technology into real-world products, announced today that the U.S.
Army's Night Vision and Electronic Sensors Directorate (NVESD) has awarded the
Company new orders for technology products and services totaling $9.2 million.
Robert Tarini, Chairman and CEO of Markland, made the announcement.
The Army's NVESD research and development group is one of the U.S. military's
most advanced technological leaders. Markland is working on a range of
next-generation technology solutions for the NVESD, including night vision and
advanced sensor applications, disposable sensors and other threat-detection
systems.
The $9.2 million in new orders come under a five-year omnibus contract. The
sales revenues derived from these new orders will be realized over a 12-month
performance period. This will bring the total dollars awarded to EOIR
Technologies Inc., a wholly-owned subsidiary of Markland, on this NVESD Omnibus
contract since July 1, 2004, to approximately $36.9 million.
The ongoing five year omnibus contract may provide a maximum ceiling amount of
up to $80 million in fiscal year revenues for Markland. The contract has a
potential value of approximately $406 million over the life of the contract.
Markland's recent announcement of orders for products and services under the
omnibus contract include an innovative "stand-off" threat-detection system
designed to help military and security personnel identify potential suicide
bombers and other armed attackers from safe distances. Other examples of recent
contract awards include products and services for humanitarian de-mining
activities in Iraq and Afghanistan as well as low cost disposable sensor
prototypes for next generation military field intelligence applications.
"I am very pleased with our continued strong revenues performance," said Mr.
Tarini. "These new contract awards are a testament to the hard work and
dedicated efforts of our entire staff of employees at our EOIR Technologies
subsidiary. We believe strongly that our efforts will help our soldiers in
combat to better and more safely perform their mission while simultaneously
creating large numbers of dual technology use opportunities within the domestic
Homeland Security marketplace, which can potentially accelerate our growth and
contribute powerfully to shareholder value."
These newly-announced NVESD orders continue to reaffirm the position of
Markland's EOIR subsidiary as a leader in the development of cutting-edge
technology for military and homeland security applications. Many of the products
and services being delivered on this contract utilize next-generation
electro-optic and infrared sensor technologies that are being used in direct
support of U.S. military combat operations in Iraq, Afghanistan and elsewhere.
The Army's NVESD has been responsible for numerous key innovations in the fields
of optical electronics and thermal imaging for weapons targeting, electronic
surveillance and other mission-critical military applications.
About Markland Technologies
Markland Technologies, Inc. is committed to setting next-generation standards in
defense and security through the provision of innovative emerging technologies
and expert services. The Company is engaged in the identification of advanced
technologies currently under development in laboratories, universities and in
private industry, and in the transformation of those technologies into
next-generation products. Markland's solutions support military, law enforcement
and homeland security personnel to protect the nation's citizens, borders and
critical infrastructure assets from the threat of terrorism and other dangers.
Through strategic development, Markland focuses on the creation of dual-use
technology and products with applications in both the defense market and
civilian homeland security and law enforcement fields. The Company is a Board
Member of the Homeland Security Industries Association, and is a featured
Company on HomelandDefenseStocks.com; additional details can be viewed at
homelanddefensestocks.com. For more
information about the Company and its products, please visit the Markland home
page at marklandtech.com.
Forward-Looking Statements
Investors are cautioned that certain statements contained in this document as
well as some statements in periodic press releases and some oral statements of
Markland Technologies officials during presentations about Markland
Technologies, are "forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements
include statements which are predictive in nature, which depend upon or refer to
future events or conditions, which include words such as "expects,"
"anticipates," "intends," "plans," "believes," "estimates," or similar
expressions. In addition, any statements concerning future financial performance
(including future revenues, earnings or growth rates), ongoing business
strategies or prospects, and possible future actions, which may be provided by
management, are also forward-looking statements as defined by the Act. Some of
the factors that could significantly impact the forward-looking statements in
this press release include, but are not limited to: a reduction in order rates
from the Army's Night Vision and Electronic Surveillance Directorate,
difficulties integrating our acquisition of EOIR, insufficient cash flow to
continue to fund the development and marketing of the Company's products and
technology; a rejection of the Company's products and technologies by the
marketplace, and; disputes as to the Company's intellectual property rights.
Forward-looking statements are based upon current expectations and projections
about future events and are subject to risks, uncertainties, and assumptions
about Markland Technologies, its products, economic and market factors and the
industries in which Markland Technologies does business, among other things.
These statements are not guarantees of future performance and Markland
Technologies has no specific intention to update these statements. More detailed
information about those factors is contained in Markland Technologies filings
with the Securities and Exchange Commission.
Markland Technologies, Inc is a featured Company on
homelanddefensestocks.com, a service for which Markland compensates
the provider.
For full details, click here:
homelanddefensestocks.com NewsReleases.asp
(Due to its length, the preceding URL may need to be copy/pasted into your
internet browsers address field)
SOURCE: Markland Technologies, Inc.
CONTACT: Markland Technologies
marklandtech.com
or
ECON Corporate Services
Dawn Van Zant, 866-730-1151
dvanzant@investorideas.com
or
Trevor Ruehs
truehs@investorideas.com
Copyright (C) 2005 Business Wire. All rights reserved.
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2005
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