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DIGITAL ANGEL RECEIVES $800,000 ORDER FROM UNITED KINGDOM
MINISTRY OF DEFENCE
Ministry Agrees to Purchase 3500 Batteries for SARBE
Units
SO. ST. PAUL, MN (May 16, 2006) … Digital Angel
Corporation (Amex: DOC), an advanced technology company in the field of
rapid and accurate identification, location tracking, and condition
monitoring of high-value assets, announced today that its London-based
subsidiary, Signature Industries, has received an $800,000 order from the
United Kingdom Ministry of Defence for 3,500 high-performance replacement
batteries for the SARBE® 7 Search and Rescue Beacon.
Signature
Industries, through its SARBE division, manufactures a complete line of
military search and rescue beacons and has worked with the UK Ministry of
Defence for more than 50 years. SARBE provided the Ministry of Defence
7,500 SARBE 7 Radio Beacons during the late 1990’s, said Digital Angel
President and CEO Kevin N. McGrath.
“The battery business is a new
line of business for Signature Industries and Digital Angel that can be
very important strategically for us,” McGrath said. “This business fits
very nicely into our line of military radio products and offers us
significant upside potential for both revenue and margin contribution. The
UK Ministry of Defence is a long-time customer of ours and we look forward
to continuing this relationship for many years to come.”
The
current line of SARBE 7 Radio Beacons is expected to be in service until
2009, McGrath added.
About Signature Industries
SARBE is a
major supplier of Search and Rescue (SAR) military air crew Pilot Locator
Beacons (PLBs) and other military rescue beacons for use in the event of
an ejection or other event requiring emergency evacuation of an aircraft
in a remote, possibly hostile location. Now in its fifth decade of
developing and manufacturing PLBs, SARBE is the chosen supplier of PLBs in
more than 40 countries worldwide. Signature Industries is majority owned
by Digital Angel Corporation. For more information about Signature
Industries, visit http://www.signatureindustries.com/
About Digital
Angel Corporation
Digital Angel Corporation develops and deploys
sensor and communications technologies that enable rapid and accurate
identification, location tracking, and condition monitoring of high-value
assets. Applications for the Company’s products include identification and
monitoring of humans, pets, fish, poultry and livestock through its
patented implantable microchips; location tracking and message monitoring
of vehicles and aircraft in remote locations through systems that
integrate GPS and geosynchronous satellite communications; and monitoring
of asset conditions such as temperature and movement, through advanced
miniature sensors.
Digital Angel Corporation is majority-owned by
Applied Digital Inc. (Nasdaq:ADSX). For more information about Digital
Angel, please visit http://www.digitalangelcorp.com/.
The statements in this press release that are not strictly
historical, are "forward-looking" statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and are intended to be covered by the safe harbors
created by these sections. The forward-looking statements are subject to
risks and uncertainties and the actual results that the Company achieves
may differ materially from these forward-looking statements due to such
risks and uncertainties, including, but not limited to, that Applied
Digital Inc. owns 55.4% of the Company’s common stock, that new accounting
pronouncements regarding expensing of share based compensation may impact
the Company’s future results of operations, the Company may continue to
incur net losses, infringement by third parties on the Company’s
intellectual property or development of substantially equivalent
proprietary technology by the Company’s competitors could negatively
impact the Company’s business, domestic and foreign government regulation
and other factors could impair the Company’s ability to develop and sell
its products in certain markets, the Company relies on sales to government
contractors for its animal identification and search and rescue beacon
products, and any decline in the demand by these customers for such
products could negatively affect the Company’s business, the Company
depends on a single production arrangement for its patented
syringe-injectable microchips, and the loss of or any significant
reduction in the production could have an adverse effect on the Company’s
business, technological change could cause the Company’s products to
become obsolete, the loss of one of the Company’s principal customers
could negatively impact the Company’s net revenue, the Company’s earnings
will decline if the Company writes off goodwill and other intangible
assets, options and warrants outstanding and available for issuance may
adversely affect the market price of the Company’s common stock, currency
exchange rate fluctuations could have an adverse effect on the Company’s
sales and financial results, the Company depends on a small team of senior
management. A detailed statement of risks and uncertainties is contained
in the Company’s reports to the Securities and Exchange Commission,
including in particular the Company’s Form 10-K for the fiscal year ended
December 31, 2005. Investors and stockholders are urged to read this
document carefully. The Company can offer no assurances that any
projections, assumptions or forecasts made or discussed in this release
will be met, and investors should understand the risks of investing solely
due to such projections. The Company undertakes no obligation to revise
any forward-looking statements in order to reflect events or circumstances
that may arise after the date of this press release.
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