RIDGEFIELD, Conn., Jan. 18, 2005 (PRIMEZONE) -- Markland Technologies, Inc. (OTCBB:MRKL), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that it has recently completed the development of an advanced wireless-based remote surveillance sensor device under a contract with an advanced U.S. Army laboratory. Robert Tarini, Chairman and CEO of Markland, made the announcement.
Markland developed the new Universal Sensor Remote Device (USRD) under funding provided by the U.S. Army's Night Vision and Electronic Sensors Directorate (NVESD). Markland's wholly owned subsidiary EOIR Technologies Inc. is now prepared to market the device to government agencies at all levels.
The USRD receives multiple remote military field surveillance sensor inputs and sends the digital data streams back to a base station for analysis and display. The device is designed to be flexible, to accept a range of different types of surveillance sensor inputs, and to provide control via remote input. Personnel at a surveillance base station are able to control the remote systems and select the appropriate transmission method, such as wired or wireless -- including radio modem or wireless LAN systems -- depending upon surveillance sensor bandwidth and distance requirements. The USRD system is designed to leverage existing standard communication and sensor protocols to ensure interoperability with a large percentage of existing systems, as well as a high degree of ease of operation.
"We believe the USRD will make a significant contribution to our military customer, but it also has the potential to provide important capabilities for domestic Homeland Security customers who are working to protect infrastructure assets such as rail yards, shipping facilities, airports, nuclear facilities or any other locations where security and surveillance sensors are employed," said Mr. Tarini. "We are pleased to have been selected to work with some of the most advanced technology development teams in the U.S. military and to have the opportunity to make a positive difference in protecting troops and civilians through major development programs such as the Universal Sensor Remote Device."
The Army's NVESD research and development group is one of the U.S. military's most advanced technological leaders and 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. Markland is working on a range of next-generation technology solutions for the NVESD, including night vision and advanced sensor applications, and other threat-detection systems. This product development effort was performed under an ongoing five-year omnibus contract which may provide a maximum award 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.
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.
Forward-Looking Statements
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Markland Technologies officials during presentations about Markland Technologies, are ``forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the ``Act''). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as ``expects,'' ``anticipates,'' ``intends,'' ``plans,'' ``believes,'' ``estimates,'' or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact the forward-looking statements in this press release include, but are not limited to: a reduction in order rates from the Army's Night Vision and Electronic Surveillance Directorate, difficulties integrating our acquisition of EOIR, insufficient cash flow to continue to fund the development and marketing of the Company's products and technology; a rejection of the Company's products and technologies by the marketplace, and; disputes as to the Company's intellectual property rights. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Markland Technologies, its products, economic and market factors and the industries in which Markland Technologies does business, among other things. These statements are not guarantees of future performance and Markland Technologies has no specific intention to update these statements. More detailed information about those factors is contained in Markland Technologies filings with the Securities and Exchange Commission.
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/NewsReleases.asp
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More information on Homeland Security issues, including news releases, events and experts available for comment, can be found on the Homeland Security Newsline at http://www.primezone.com/hs