Digital Angel's Cattle Tag Sales in Argentina Now Exceed 1.4 Million for 2006
19 April 2006 - 10:30PM
PR Newswire (US)
Recent Order of 160,000 Cattle Tags Continues to Expand DA's Market
Share in South America SO. ST. PAUL, Minn., April 19
/PRNewswire-FirstCall/ -- Digital Angel Corporation (AMEX:DOC), an
advanced technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of
high-value assets, announced today that it has received a new order
for 160,000 cattle tags, raising 2006 orders to over 1.44 million
cattle tags in Argentina. The company has now exceeded by over 30
percent the total of 1.1 million orders for the entire year of
2005. Digital Angel President and Chief Executive Officer Kevin
McGrath said this new order combined with the approval of our
visual and electronic tags in Chile is certainly good news and
shows our increased penetration of the South American Markets. The
rapidly expanding orders demonstrate that the Company is becoming a
significant presence in Argentina, one of the most important cattle
markets in the world with an estimated 55 million head of cattle
throughout the country and is expanding on this strength in other
countries in South America. "I am very enthusiastic with the
success of our Argentine operation, specifically that we have
exceeded our entire 2005 output by over 30 percent in just the
first three and a half months of 2006," McGrath said. "We will
continue to focus on making Argentina a very strong and growing
market as well as expanding into new markets in South America. Our
top-notch team and their strong distribution network and excellent
customer service is expanding our sales base at a tremendous pace."
About Digital Angel Corporation Digital Angel Corporation develops
and deploys sensor and communications technologies that enable
rapid and accurate identification, location tracking, and condition
monitoring of high-value assets. Applications for the Company's
products include identification and monitoring of humans, pets,
fish, poultry and livestock through its patented implantable
microchips; location tracking and message monitoring of vehicles
and aircraft in remote locations through systems that integrate GPS
and geosynchronous satellite communications; and monitoring of
asset conditions such as temperature and movement, through advanced
miniature sensors. Digital Angel Corporation is majority-owned by
Applied Digital Inc. (NASDAQ:ADSX). For more information about
Digital Angel, please visit http://www.digitalangelcorp.com/. The
statements in this press release that are not strictly historical,
are "forward-looking" statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe
harbors created by these sections. The forward-looking statements
are subject to risks and uncertainties and the actual results that
the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties,
including, but not limited to, Applied Digital Solutions, Inc. owns
55.4% of the Company's common stock, new accounting pronouncements
regarding expensing of share based compensation may impact the
Company's future results of operations, the Company may continue to
incur net losses, infringement by third parties on the Company's
intellectual property or development of substantially equivalent
proprietary technology by the Company's competitors could
negatively impact the Company's business, domestic and foreign
government regulation and other factors could impair the Company's
ability to develop and sell its products in certain markets, the
Company relies on sales to government contractors for its animal
identification and search and rescue beacon products, and any
decline in the demand by these customers for such products could
negatively affect the Company's business, the Company depends on a
single production arrangement for its patented syringe-injectable
microchips, and the loss of or any significant reduction in the
production could have an adverse effect on the Company's business,
technological change could cause the Company's products to become
obsolete, the loss of one of the Company's principal customers
could negatively impact the Company's net revenue, the Company's
earnings will decline if the Company writes off goodwill and other
intangible assts, options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock, currency exchange rate fluctuations could have an
adverse effect on the Company's sales and financial results, the
Company depends on a small team of senior management. A detailed
statement of risks and uncertainties is contained in the Company's
reports to the Securities and Exchange Commission, including in
particular the Company's Form 10-K for the fiscal year ended
December 31, 2005. Investors and stockholders are urged to read
this document carefully. The Company can offer no assurances that
any projections, assumptions or forecasts made or discussed in this
release will be met, and investors should understand the risks of
investing solely due to such projections. The Company undertakes no
obligation to revise any forward-looking statements in order to
reflect events or circumstances that may arise after the date of
this press release. Contact: Allen & Caron Inc Michael
Lucarelli (investors) Brian Kennedy (media) 212-691-8087
212-691-8087 DATASOURCE: Digital Angel Corporation CONTACT:
Investors, Michael Lucarelli, , or Media, Brian Kennedy, , both of
Allen & Caron Inc, +1-212-691-8087, for Digital Angel
Corporation Web site: http://www.digitalangelcorp.com/
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