U.S. Army's Night Vision and Electronic Sensors Directorate Awards EOIR Inc. $3.3 Million in New Contracts.
BOSTON -- Markland Technologies, Inc. (OTC OTC
See over-the-counter market (OTC). BB:MRKL.OB) and Technest Holdings, Inc. (OTC BB:TCNH TCNH Tender Care Nursing Home (Midland, Michigan) .OB), 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 companies transforming advanced laboratory technology into real-world products, announced today that the U.S. Army's Night Vision and Electronic Sensors
EOIR Electro-Optic Infrared
EOIR Enhanced Online Insertion and Removal Technologies Inc. new orders for technology products and services totaling $3.3 million.
The Army's NVESD research and development group is one of the U.S. military's most advanced technological leaders. EOIR Technologies Inc. is working on a range of next-generation technology solutions for the NVESD, including night vision and advanced sensor A device that measures or detects a real-world condition, such as motion, heat or light and converts the condition into an analog or digital representation. An optical sensor detects the intensity or brightness of light, or the intensity of red, green and blue for color systems. applications, disposable sensors and other threat-detection systems.
The $3.3 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. Since that date EOIR Technologies Inc. omnibus contract awards have totaled $13.5 million. As of August 31, 2005 EOIR Technologies Inc. had funded backlog Backlog
The total value of sales orders waiting to be fulfilled.
This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of $50.6M.
The ongoing Omnibus contract may provide a maximum ceiling amount of up to $80 million in fiscal year revenues. 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.
About Technest Holdings, Inc.
Technest Holdings, Inc. (OTC BB:TCNH.OB - News), is a provider of intelligent surveillance and advanced 3D imaging technology solutions to the defense and homeland security marketplaces. Technest is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. Technest's solutions support military, law enforcement and homeland security personnel. Through strategic development, Technest focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields.
"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 press release as well as some statements in periodic press releases and some oral statements of Markland Technologies officers and directors 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, 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. http://www.sec.gov
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
in full Uniform Resource Locator
Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)