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Digital Angel Corporation Exceeds 2005 South American Sales Guidance With Sale of More Than 1.1 Million Livestock Tags
More Than 400,000 Tags Sold in Argentina in Last Two
Weeks SO. ST. PAUL, Minn., Nov. 21 /PRNewswire-FirstCall/ -- 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 it had exceeded its
2005 South American sales guidance. To date, the Company has sold more
than 1.1 million livestock tags in Argentina, exceeding the Company's
guidance of 1 million livestock tags to be sold in all of South America
announced earlier this year. Included in these sales figures are 402,000
tags sold into the large and competitive Argentine market in the last two
weeks.
In its first year of operation, Digital Angel's South American
Livestock Sales Division has performed better than expected and has
expanded the Company's global presence as one of the world's leading
livestock identification companies. There are more than 200 million cattle
raised in South America with the largest concentrations in Argentina,
Brazil and Uruguay. "In our first year of operation in the region, it is nice to exceed
expectations," said CEO Kevin McGrath. "As the global livestock
identification market continues to broaden as a result of Mad Cow and
disease management awareness, bio-terrorism threats and now potentially
bird flu, a global presence is necessary for participation in national
identification programs. Digital Angel is one of two worldwide leaders in
livestock identification and our expanding global presence will solidify
this position. We continue to sign up new distributors and open new
distribution channels in South America as well as in Europe and Asia." About Digital Angel Corporation 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 the Company's
majority stockholder, Applied Digital Inc. owns 55.4% of the Company's
common stock; that new accounting pronouncements may impact the Company's
future results of operation; that the Company may continue to incur
losses, that infringements by third parties on the Company's intellectual
property or development of substantially equivalent proprietary technology
by the Company's competitors could negatively affect the Company's
business; that domestic and foreign government regulation and other
factors could impair the Company's ability to develop and sell the
Company's products in certain markets; that the Company relies on sales to
government contractors of its animal identification products, and any
decline in the demand by these customers for the Company's products could
negatively affect the Company's business; that the Company depends on a
single production arrangement for its patented syringe- injectable
microchips; that the Company depends on principal customers; that the
Company competes with other companies and the products sold by the
Company's competitors could become more popular than the Company's
products or render the Company's products as obsolete; that the Company's
earnings will decline if the Company must write-off goodwill and other
intangible assets; that the exercise of options and warrants outstanding
and available for issuance may adversely affect the market price of the
Company's common stock; that currency exchange rate fluctuations could
have an adverse effect on the Company's sales and financial results; and
that the Company depends on a small team of senior management and the
Company may have difficulty attracting and retaining additional personnel.
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,
2004. 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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