Digital Angel Corporation Exceeds 2005 South American Sales Guidance With Sale of More Than 1.1 Million Livestock Tags
November 21 2005 - 8:25AM
PR Newswire (US)
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 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 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 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. Contact: Allen &
Caron Inc Michael Lucarelli (investors) Brian Kennedy (media)
212-691-8087 212-691-8087 DATASOURCE: Digital Angel Corporation
CONTACT: Michael Lucarelli (investors), , or Brian Kennedy (media),
, both of Allen & Caron Inc, +1-212-691-8087, for Digital Angel
Corporation Web site: http://www.digitalangelcorp.com/
Copyright
Applied Digital Solutions (NASDAQ:ADSX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Applied Digital Solutions (NASDAQ:ADSX)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Applied Digital Solutions (MM) (NASDAQ): 0 recent articles
More Applied Digital Solutions (MM) News Articles