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RIDGEFIELD, Conn., 13 December 2004. Markland Technologies Inc. announced today that the U.S. Army has awarded it additional new orders for the company's advanced night vision products and services.
The $3.2 million in new orders come under a five-year omnibus contract with the Army's Night Vision and Electronic Sensors Directorate (NVESD), one of the U.S. military's most advanced research and development arms. 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 $22.6 million.
These new orders are for products and services for the development of sensors and data collection platforms. Many of the products and services being delivered on this contract utilize next-generation electro-optic and infrared technologies in direct support of US
military combat operations in Iraq and Afghanistan. The ongoing five year omnibus contract may potentially 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.
The Army's NVESD develops advanced technologies for use in night vision and targeting equipment. The directorate is one of the military's most advanced research and development entities, and is responsible for numerous key innovations in the fields of optical electronics and thermal imaging, used for weapons targeting, electronic surveillance and other mission-critical military applications.
"These new orders further solidify our standing as an important supplier of advanced technology products to the US military and homeland security industry," said Robert Tarini, chairman and CEO of Markland.
"We are extremely gratified that our next-generation technologies can continue to expand
their contribution to the protection of our troops and innocent people worldwide. Among other security and defense initiatives we have taken, our subsidiary EOIR Technologies has developed solutions to protect soldiers from threats posed by terrorists using improvised explosive devices and suicide bombing attacks. Our efforts have helped to make the troops safer and have given the Company market opportunities to deliver these unique technology solutions in the dual-use applications that are common in the homeland security marketplace."
Mr. Tarini further stated, "In the past, it has often taken years to develop new technologies for the military, but the defense industry can no longer afford such long development cycles. The pace of development has been quickened, and both military and civilian customers look to smaller, fast-moving innovators such as Markland to turn advanced technology into key new products."
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 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 www.homelanddefensestocks.com/Companies/MarklandTech. For more information, see www.marklandtech.com.
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