Markland Technologies Announces Business Status Update
RIDGEFIELD, Conn., Mar 4, 2005 (BUSINESS WIRE) --
Significant Corporate Achievements Made Since June 2004 Create Robust Revenue Streams and Strong Future Growth Opportunities In DOD and Homeland Security Marketplace
Markland Technologies, Inc. ( MRKL ), a defense and homeland security company transforming advanced laboratory technology into real-world products, has announced a business status update.
Robert Tarini, CEO and Chairman stated, "I am extremely pleased by the fact that we have made numerous significant achievements in growing the Markland revenue base and creating strong future growth opportunities in a very short period of time. Our results have occurred so quickly and in such a dynamic fashion that it is important for us to reflect upon our accomplishments and take the time to appreciate the efforts made to date by our entire Markland workforce. To that end we provide this status update and a list of significant accomplishments made since June 2004."
A list of significant accomplishments made since June 2004 and up to date corporate status items is as follows:
-- Acquisition of EOIR Technologies Inc in June 2004 providing
Markland with a suite of highly innovative remote sensing
technologies, established revenue streams in DOD and Homeland
Security applications, and a highly skilled workforce.
-- Record Six Month Revenues as of December 31, 2004 of
$32,814,528 versus prior year six month revenues of
$3,563,495; an 821% increase.
-- Net cash provided by operating activities for the six months
ended December 31, 2004 of positive $194,896 versus prior year
six month negative net operating cash flow of $884,314. A
significant improvement of over $1M in year over year results.
-- Enhanced financial stability; approximately $50M in present
funded backlog of goods and services and a cash balance of
approximately $5.7M as of December 31, 2004.
-- Acquisition of majority ownership of public company Technest
Holdings Inc in February 2005 with a present market
capitalization of approximately $50M and its subsequent
acquisition of Homeland Security company Genex Technologies
Inc. ( www.genextech.com) with expertise and industry
leadership in 3D surveillance and facial recognition
-- Funded high profile research programs in the strategic areas
of: explosives detection, suicide bomber detection, disposable
sensors, chemical detection and facial recognition.
-- Formation of a highly skilled and focused workforce of over
225 employees and a strategic initiatives business plan for
2005 which incorporates the following:
Strategic Initiative 1 -- Continue to solidify Markland as a strong niche player in the DOD/Homeland Security arena via organic growth.
Strategic Initiative 2 -- Continue to pursue focused acquisitions of synergistic, revenue-producing assets:
Strategic Initiative 3 -- Partner with established industry players on key, large-scale government contract programs:
Strategic Initiative 4 -- Incubate and commercialize emerging technologies:
Robert Tarini in closing stated, "We have a fabulous workforce and a focused business plan, dedicated and loyal customers and very attractive market opportunities. We will endeavor to take full advantage of all the opportunities in front of us to grow the company, improve profitability and enhance shareholder value. We have made significant accomplishments in the last 8 months and believe that these trends will continue. I am extremely happy to be a part of this exciting business venture and hope to be able to report on additional strategic achievements in the near future."
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 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
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/NewsReleas
es.asp (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
SOURCE: Markland Technologies, Inc.
Markland Technologies http://www.marklandtech.com
ECON Corporate Services
Dawn Van Zant, 866-730-1151
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