CORRECTING and REPLACING Markland Subsidiary EOIR Technologies Inc Awarded $2.5 Million in New Orders from US Army; Company's Fiscal Year Orders from US Army under Multi Year Omnibus Contract Now Totals $50.5 Million 3/29/2005 11:50:04 AM
RIDGEFIELD, Conn., Mar 29, 2005 (BUSINESS WIRE) -- Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
MARKLAND SUBSIDIARY EOIR TECHNOLOGIES INC AWARDED $2.5 MILLION IN NEW ORDERS FROM US ARMY; COMPANY'S FISCAL YEAR ORDERS FROM US ARMY UNDER MULTI YEAR OMNIBUS CONTRACT NOW TOTALS $50.5 MILLION
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 $2.5 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 $2.5 million in new orders come under a five-year omnibus contract. 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 $50.5 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 five year contract.
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.
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.
For full details, click here: http://www.homelanddefensestocks.com/Companies/MarklandTech/ Default.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 or ECON Corporate Services Dawn Van Zant, 866-730-1151 dvanzant@investorideas.com or Trevor Ruehs truehs@investorideas.com
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