Digital Angel Reports 1.9 Million Electronic RFID Livestock Tags Sold During 2005 - An Increase of 73 Percent Over 2004
February 15 2006 - 7:30AM
PR Newswire (US)
Upward Sales Trend Accelerates in 2006 With Orders for 1 Million
Electronic Tags Already Received SO. ST. PAUL, Minn., Feb. 15
/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 that the total sales of its electronic
RFID (radiofrequency identification) livestock tags increased by 73
percent in 2005 -- to 1.9 million -- compared to 2004. The Company
also announced that the upward sales trend is accelerating to date
in 2006 and that it had already received orders for approximately 1
million RFID livestock tags. Commenting on the increased electronic
tag sales, President and CEO Kevin N. McGrath said: "The
significant increase in e-tag sales is a result, in part, of the
livestock industry's growing use of Digital Angel's RFID as a
technology of choice in the U.S., Canada and around the world. As
we get closer to full implementation of a National Identification
Program in the U.S., retailers, producers and cattlemen, in general
are preparing for the evolution into RFID technology as a standard
in the livestock tracking industry. Both in the U.S. and
internationally, the use of RFID in livestock tracking continues to
grow. We believe that Digital Angel, with our more than 60 years of
history in the livestock tracking business, is well positioned to
be a major participant in the evolution and implementation of this
technology worldwide." McGrath noted that the Congress has
appropriated more than $34 million for the National Identification
Program in 2006. In particular McGrath observed, "The whole
industry is encouraging the U.S. Department of Agriculture to make
2006 the year of implementation." Digital Angel sold almost 50
million visual ear tags in 2005, up from 26 million in 2004, as a
result of growth in the U.S. market, the acquisition of Daploma in
Europe and the launch of the business in South America. Digital
Angel will report its complete 2005 fourth quarter and year-end
results on March 8, 2006. 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 the Company's majority
stockholder, Applied Digital Inc. owns 55.4% of the Company's
common stock; that new accounting pronouncements may impact the
Company's future results of operation; that the Company may
continue to incur losses, that infringements by third parties on
the Company's intellectual property or development of substantially
equivalent proprietary technology by the Company's competitors
could negatively affect the Company's business; that domestic and
foreign government regulation and other factors could impair the
Company's ability to develop and sell the Company's products in
certain markets; that the Company relies on sales to government
contractors of its animal identification products, and any decline
in the demand by these customers for the Company's products could
negatively affect the Company's business; that the Company depends
on a single production arrangement for its patented
syringe-injectable microchips; that the Company depends on
principal customers; that the Company competes with other companies
and the products sold by the Company's competitors could become
more popular than the Company's products or render the Company's
products as obsolete; that the Company's earnings will decline if
the Company must write-off goodwill and other intangible assets;
that the exercise of options and warrants outstanding and available
for issuance may adversely affect the market price of the Company's
common stock; that currency exchange rate fluctuations could have
an adverse effect on the Company's sales and financial results; and
that the Company depends on a small team of senior management and
the Company may have difficulty attracting and retaining additional
personnel. 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, 2004. 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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