Markland Awarded Additional $2.0 Million in New Orders from U.S. Army under Multi-Year Contract Thursday February 24, 11:41 am ET Total of Company's Recent New Orders from US Army under Omnibus Contract Now Totals $45.9 Million
RIDGEFIELD, Conn.--(BUSINESS WIRE)--Feb. 24, 2005-- Markland Technologies, Inc. (OTCBB: MRKL - News), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that the U.S. Army's Night Vision and Electronic Sensors Directorate (NVESD) has awarded the Company new orders for technology products and services totaling $2.0 million. Robert Tarini, Chairman and CEO 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.
The $2.0 million in new orders come under a five-year omnibus contract. The sales revenues derived from these new orders will be realized over a 12-month performance period. This will bring the total dollars awarded to EOIR Technologies Inc., a wholly-owned subsidiary of Markland, on this NVESD Omnibus contract since July 1, 2004, to approximately $45.9 million.
The ongoing five year omnibus contract may provide a maximum ceiling amount of up to $80 million in fiscal year revenues for Markland. The contract has a potential value of approximately $406 million over the life of the contract.
"Our core business is moving along extremely well having achieved approximately $33M in fiscal six month sales revenues," said Mr. Tarini. "We believe that our recent purchase of Genex Technolgies and formation of a public subsidiary has created shareholder value. Genex Technologies expertise in intelligent 3D surveillance and disposable sensor technology is very synergistic and offers significant revenue growth opportunities. We believe that a number of our research and development programs offer great promise in the areas of remote detection of suicide bombers and chemical detection and that our second half of the fiscal year will continue our recent trends in revenue capture."
Many of the products and services being delivered on this contract utilize next-generation electro-optic and infrared 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.
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Gmh37 you are clearly one of the more knowledgable traders on this site, and frankly, you were the one who got me interested in both gtel and mrkl a few months back. What is your plan for mrkl? Do you still think holding and waiting for a kaboom is the answer? On paper they look great, but again and again they take dives, especially after good PR. Maybe what we need is something negative to happen. Perhaps a lawsuit!
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Ayork, I still feel MRKL will be a Winner in the long run, but why the Stock is selling ? I wish I knew Every time there is a new PR about getting a new order, the Stock is tanking, there is something very wrong . As far as GTEL - I will hold also
MRKL actually is on the up after positive news. Can you beleive it? After reading the latest PR, I can't imagine how this company is not going to be a long-term gold mine, especially with our war-loving president.
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