Markland Subsidiary EOIR Technologies Inc. Awarded $4.8 Million in New Orders from U.S. Army; Company Ends Fiscal Year With $48.8 Million In Funded Backlog.BOSTON -- Markland Technologies, Inc. (OTC OTC
See over-the-counter market (OTC). BB:MRKL.OB), a defense and 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 company transforming advanced laboratory technology into real-world products, announced today that the U.S. Army's Night Vision and Electronic Sensors Directorate (NVESD NVESD Night Vision and Electronic Sensors Director/Directorate (US Army) ) has awarded the company's wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. EOIR EOIR Executive Office of Immigration Review
EOIR Electro-Optic Infrared
EOIR Enhanced Online Insertion and Removal Technologies Inc. new orders for technology products and services totaling $4.8 million and that the company finished the fiscal year ended June 30,2005 with $48.8M in funded backlog. Robert Tarini, Chairman and 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 Markland, made the announcement.
The Army's NVESD research and development group is one of the U.S. military's most advanced technological leaders. Markland is working on a range of next-generation technology solutions for the NVESD, including night vision and advanced sensor applications, disposable sensors and other threat-detection systems. A portion of the current funding is being utilized for the continued development of technologies which may help to detect suicide bomber Noun 1. suicide bomber - a terrorist who blows himself up in order to kill or injure other people
act of terrorism, terrorism, terrorist act - the calculated use of violence (or the threat of violence) against civilians in order to attain goals that are political and weapons threats from stand off distances.
The $4.8 million in new orders come under an NVESD omnibus omnibus: see bus. contract. The omnibus contract Option Year Four was awarded on July 15, 2005. EOIR Technologies Inc. omnibus contract awards for the previous Option Year Three which ended on July 14, 2005 had totaled $61.2M.
The ongoing Omnibus contract may provide a maximum ceiling amount of up to $80 million in fiscal year revenues for Markland. Many of the products and services being delivered on this contract utilize next-generation electro-optic and infrared An invisible band of radiation at the lower end of the visible light spectrum. With wavelengths from 750 nm to 1 mm, infrared starts at the end of the microwave spectrum and ends at the beginning of visible light. sensor technologies that are being used in direct support of U.S. military combat operations in Iraq, Afghanistan and elsewhere. The Army's NVESD has been responsible for numerous key innovations in the fields of optical electronics and thermal imaging for weapons targeting, electronic surveillance and other mission-critical military applications.
About Markland Technologies
Markland Technologies, Inc. is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. The Company is engaged in the identification of advanced technologies currently under development in laboratories, universities and in private industry, and in the transformation of those technologies into next-generation products. Markland's solutions support military, law enforcement and homeland security personnel to protect the nation's citizens, borders and critical infrastructure assets from the threat of terrorism and other dangers. Through strategic development, Markland focuses on the creation of dual-use technology Dual-use is a term often used in politics and diplomacy to refer to technology which can be used for both peaceful and military aims. It usually refers to the proliferation of nuclear weapons, but that of bioweapons is a growing concern. and products with applications in both the defense market and civilian homeland security and law enforcement fields. The Company is a Board Member of the Homeland Security Industries Association, and is a featured Company on HomelandDefenseStocks.com; additional details can be viewed at http://www.homelanddefensestocks.com/Companies/MarklandTech. For more information about the Company and its products, please visit the Markland home page at http://www.marklandtech.com.
Forward-Looking Statements forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Markland Technologies officials during presentations about Markland Technologies, are ``forward-looking'' statements within the meaning of 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 (the ``Act''). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as ``expects,'' ``anticipates,'' ``intends,'' ``plans,'' ``believes,'' ``estimates,'' or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates Growth Rates
The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures.
Remember, historically high growth rates don't always mean a high rate of growth looking into the future. ), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: a reduction in order rates from the Army's Night Vision and Electronic Surveillance Directorate, difficulties integrating our acquisition of EOIR, insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and; disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Markland Technologies, its products, economic and market factors and the industries in which Markland Technologies does business, among other things. These statements are not guarantees of future performance and Markland Technologies has no specific intention to update these statements. More detailed information about those factors is contained in Markland Technologies filings with the Securities and Exchange Commission.
Markland Technologies, Inc. is a featured Company on http://www.HomelandDefenseStocks.com, a service for which Markland compensates the provider.
For full details, click here: http://www.homelanddefensestocks.com/Companies/MarklandTech/ Default.asp (Due to its length, this URL URL
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