Markland Technologies (fka MKLD)

[ProfitScout]

Markland Technologies Reports Record First Quarter Results; Company Posts Revenues of $15.77M and Positive Operating Cash Flow of $2.50M

RIDGEFIELD, Conn., Nov 16, 2004 (BUSINESS WIRE) -- Markland Technologies, Inc. ( MRKL ) ( http://www.marklandtech.com), an integrated homeland security company, announced today that it reported record results for its fiscal first quarter ending September 30, 2004.

Revenues for the quarter were $15,769,851, a significant increase over revenues for the corresponding period in 2003 of $306,724. This increase is due almost entirely to the acquisition of EOIR Technologies Inc. Net cash provided by operating activities for the quarter was a positive $2,503,859 also a significant increase over the corresponding period in 2003 in which the company experienced negative net cash used in operating activities. Operating results was a loss of $748,653 for the quarter. Net loss was $1,246,021 or a loss of $.03 per share compared to a loss of $911,936 or a loss of $.22 per share in the corresponding period in 2003. This decrease is due to an increase in the weighted average number of shares outstanding to 38,352,594 from 4,746,887. Please see refer to our Quarterly Report on Form 10QSB for the quarter ended September 30, 2004 filed with the Securities and Exchange Commission for more information about our financial performance. That document is a public filing available on the SEC's web site at www.sec.gov.

"This has been our best quarter ever," said Robert Tarini, Chairman and CEO of Markland Technologies Inc. "We have met our expectations and will continue to strive to grow the company and improve our financial results. As of the end of the quarter we were operating cash flow positive and had a cash balance of over $6M. It is approximately two years since our efforts began and we have made great strides forward. Our dedicated staff of over 200 employees is poised to continue to grow this enterprise and provide highly differentiated products and services to the US Department of Homeland Security and US Department of Defense to protect our country and our military."

About Markland Technologies

Markland Technologies, Inc. is committed to helping secure America by providing innovative emerging technologies and expert services to meet the country's needs to protect our people, our borders and our infrastructure assets. The Company is a Board member of the Homeland Security Industries Association ( http://www.hsianet.org).

Markland Technologies, Inc is a featured Company on HomelandDefenseStocks.com, a service for which Markland compensates the provider.

SOURCE: Markland Technologies Inc.

Markland Technologies
http://www.marklandtech.com
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Dawn Van Zant, 866-730-1151
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Trevor Ruehs, 866-730-1151
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