Digital Angel Corporation UK Subsidiary Receives $350,000 Add-On Order From UK Ministry of Defense
25 July 2006 - 10:30PM
PR Newswire (US)
SO. ST. PAUL, Minn., July 25 /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 the
SARBE(R) Division of its London-based subsidiary, Signature
Industries, has received an additional order from the UK Ministry
of Defense for high-performance replacement batteries for the SARBE
7 Search and Rescue Beacon. The order, valued at $350,000, followed
the original $800,000 order announced in May and delivery is
required during 2006. The SARBE Division of Signature Industries
manufactures a complete line of military search and rescue beacons
and has worked with the UK Ministry of Defense for more than 50
years. Signature, which made the strategic decision to move into
battery manufacture in the fall of 2005, has created a specialized
line of 406MHz lithium manganese dioxide batteries for search and
rescue beacons that have a shelf life of five years and can operate
continuously for 24 hours at temperatures as low as minus 20
degrees C. Digital Angel President and Chief Executive Officer
Kevin N. McGrath said: "Our decision to manufacture specialized
military batteries has already begun to pay off, based on the
decision by the UK Ministry of Defense, one of our oldest and most
treasured customers, to increase its recent order. In addition, our
own innovative manufacturing process has led to reduced cost,
increased productivity, certainty of supply for our customers and a
better capability against competition. The expanding program to
replace existing search and rescue beacons with our line of
batteries by February 2009 provides us with major opportunities."
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, that Applied Digital Inc. owns 55.4%
of the Company's common stock, that 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 assets, 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) Len Hall (media) 212-691-8087 949-474-4300
DATASOURCE: Digital Angel Corporation CONTACT: investors, Michael
Lucarelli, +1-212-691-8087, , or media, Len Hall, +1-949-474-4300,
, both of Allen & Caron Inc, for Digital Angel Corporation Web
site: http://www.digitalangelcorp.com/
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