Digital Angel Corporation Receives Orders for 1.2 Million Livestock Tags From Argentina Year-to-Date - Exceeds 2005 Full Year O
March 21 2006 - 7:30AM
PR Newswire (US)
SO. ST. PAUL, Minn., March 21 /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 its
Argentina subsidiary, Digital Angel SA, has already received
non-cancelable orders for nearly 1.2 million visual cattle tags as
of mid-March. The total, which includes a new order of 175,000
tags, exceeds the total of 1.1 million orders for the entire year
of 2005, the first year the Company entered the cattle tag market
in the South American country. Digital Angel President and Chief
Executive Officer Kevin McGrath said the rapidly expanding orders
demonstrates that the Company has established 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. "I am delighted by the success of our Argentine
operation, particularly by the fact that we have already exceeded
our entire 2005 output in just the first three months of 2006,"
McGrath said. "We are focused on making Argentina a very strong and
growing market for us and we have a very impressive professional
team in place. Their strong distribution network and dedication to
customer service is obviously already paying dividends in terms of
expanding our sales base. Our goal is to be a major player in the
cattle tags market in Argentina and other South American countries
for many years to come." 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) Len Hall (media) 212-691-8087 949-474-4300
DATASOURCE: Digital Angel Corporation CONTACT: Michael Lucarelli
(investors), +1-212-691-8087, , or Len Hall (media),
+1-949-474-4300, , both of Allen & Caron Inc, for Digital Angel
Corporation Web site: http://www.digitalangelcorp.com/
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