Digital Angel Reschedules Third Quarter 2006 Earnings Results to November 9th
November 03 2006 - 9:33AM
PR Newswire (US)
Company to Provide Preliminary Update to Shareholders of Special
Committee Analysis SO. ST. PAUL, Minn., Nov. 3
/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 rescheduled the
release of its third quarter 2006 earnings and investor call from
Monday, November 6th to Thursday, November 9th. Earnings will be
released at 7:35 am EST. That same day at 11:00 am EST, management
will host a conference call, which will be broadcast live over the
Internet. The company said the reason for moving the earnings
announcement and call was to allow for management to update
shareholders as to the preliminary Strategic Alternative Analysis
overseen by the Company's Special Committee of its Board of
Directors, which includes all independent directors. The company
expects to announce these findings on or before Thursday, November
9th, 2006. In August, the Special Committee was charged with
reviewing strategic alternatives and pursuing any option it deems
most advantageous for Digital Angel. Among the alternatives being
considered are improvements to the Company's capital structure and
methods to improve growth opportunities and enhance shareholder
value. Those interested in listening to the live webcast may do so
by going to the Company's website at
http://www.digitalangelcorp.com/ or http://www.vcall.com/. Web
participants are encouraged to go to either website at least 15
minutes prior to the start of the call to register, download, and
install any necessary audio software. The online archive will be
available shortly after the conclusion of the call and continue for
seven days. 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 Sloane &
Company Michael Lucarelli (investors) Tracey Belko (media) (212)
691-8087 (212) 446-1899 DATASOURCE: Digital Angel Corporation
CONTACT: Investors, Michael Lucarelli of Allen & Caron Inc,
+1-212-691-8087, , for Digital Angel Corporation; or Media, Tracey
Belko of Sloane & Company, +1-212-446-1899, , for Digital Angel
Corporation Web site: http://www.vcall.com/ Web site:
http://www.digitalangelcorp.com/
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