Implant Sciences Awarded Service Contract for Semiconductor Application.Potential for up to $1.5 Million in Revenue to Provide Specialty Substrate Ion Implantation Ion implantation A process that utilizes accelerated ions to penetrate a solid surface. The implanted ions can be used to modify the surface composition, structure, or property of the solid material. Services to Fortune-500 Customer WAKEFIELD, Mass. -- Implant Sciences Corporation (AMEX AMEX See: American Stock Exchange : IMX IMX In My eXperience IMX Interactive Music Exchange (TV show) IMX Integrated Multimedia Exchange IMX Industrywide Mortgage Exchange IMX Intermodal Marketing Extension IMX Inverse Multiplexor ) a developer and manufacturer of products for national security, medicine and industry, today announced that a Fortune-500 provider of technology-based products and services has awarded Implant's semiconductor division a service contract expected to run over the next twenty-four (24) months with the potential to generate revenues of up to $1.5 million. The Company has received the first purchase order to perform the initial phase of the contract which provides for the modification of an existing ion implanter that should enable the ion implantation of the customer's specialty substrate. Following this initial phase, which is expected to be completed over the next several months, pilot production could then proceed over the remainder of the life of the contract. Dr. Anthony J. Armini, PhD., CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Implant Sciences, commented, "We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that Implant has been awarded this contract by a well-known Fortune-500 technology company. We believe Implant has a well-respected reputation in the industry and a proven track record of developing specialty ion implantation equipment used in semiconductor applications and providing ion implantation services to semiconductor fabs. This project should enable the Company to leverage its extensive knowledge base in the development of equipment for ion implantation and apply this expertise to the ion implantation of a specialty substrate in a semiconductor application. We also look forward to the opportunity to grow our implantation implantation /im·plan·ta·tion/ (im?plan-ta´shun) 1. attachment of the blastocyst to the epithelial lining of the uterus, its penetration through the epithelium, and, in humans, its embedding in the stratum compactum of the service business with the addition of this valued customer and believe it can be leveraged for growth in other areas of our semiconductor division." About Implant Sciences Implant Sciences, incorporated in 1984, is using its core ion technology to develop, manufacture and market products for the homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States , semiconductor and medical device industries. The Company has developed and commercialized portable and bench-top detection devices to identify explosives which are distributed under the Quantum Sniffer(TM) brand name. The Company also provides state of the art ion implantation and wafer analytical services for the semiconductor industry. The Company also develops, manufactures and sells radioactive products for the treatment of cancer, including sales of radioactive seeds for the treatment of prostate cancer prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. and development of a new, FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approved radioactive source for use in the treatment of breast cancer. For further details on the Company and its products please visit the Company's website at www.implantsciences.com. Implant Sciences believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements. For further information you are encouraged to review Implant Sciences' filings with the Securities and Exchange Commission, including its Annual Report on Form 10K for the period ended June 30, 2006 and Quarterly Report on Form 10Q for the period ended September 30, 2006. The Company assumes no obligation to update the information contained in this press release. |
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