Digital Angel Receives $800,000 Order From United Kingdom Ministry of Defence
May 16 2006 - 8:30AM
PR Newswire (US)
Ministry Agrees to Purchase 3500 Batteries for SARBE Units SO. ST.
PAUL, Minn., May 16 /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
London-based subsidiary, Signature Industries, has received an
$800,000 order from the United Kingdom Ministry of Defence for
3,500 high-performance replacement batteries for the SARBE(R) 7
Search and Rescue Beacon. Signature Industries, through its SARBE
division, manufactures a complete line of military search and
rescue beacons and has worked with the UK Ministry of Defence for
more than 50 years. SARBE provided the Ministry of Defence 7,500
SARBE 7 Radio Beacons during the late 1990's, said Digital Angel
President and CEO Kevin N. McGrath. "The battery business is a new
line of business for Signature Industries and Digital Angel that
can be very important strategically for us," McGrath said. "This
business fits very nicely into our line of military radio products
and offers us significant upside potential for both revenue and
margin contribution. The UK Ministry of Defence is a long-time
customer of ours and we look forward to continuing this
relationship for many years to come." The current line of SARBE 7
Radio Beacons is expected to be in service until 2009, McGrath
added. About Signature Industries SARBE is a major supplier of
Search and Rescue (SAR) military air crew Pilot Locator Beacons
(PLBs) and other military rescue beacons for use in the event of an
ejection or other event requiring emergency evacuation of an
aircraft in a remote, possibly hostile location. Now in its fifth
decade of developing and manufacturing PLBs, SARBE is the chosen
supplier of PLBs in more than 40 countries worldwide. Signature
Industries is majority owned by Digital Angel Corporation. For more
information about Signature Industries, visit
http://www.signatureindustries.com/ 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 212-691-8087
DATASOURCE: Digital Angel Corporation CONTACT: Investors, Michael
Lucarelli, , or Media, Len Hall, , both of Allen & Caron Inc,
+1-212-691-8087, for Digital Angel Corporation Web site:
http://www.signatureindustries.com/ Web site:
http://www.digitalangelcorp.com/
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