Digital Angel Corporation Reports Record Sales Month for Visual Livestock ID Tags in U.S.
April 11 2006 - 7:30AM
PR Newswire (US)
SO. ST. PAUL, Minn., April 11 /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
gross U.S. sales of its visual identification ear tags for
livestock in the month of March 2006 exceeded $1 million, the first
million-dollar month since the Company began selling visual
livestock tags in 1945. The new monthly record surpassed the former
record, set in 2004, by more than $100,000. "The $1 million month
is a historic milestone for Digital Angel and it is a testament to
the hard work of our employees and business partners and the
increasing acknowledgement among ranchers and consumers of the
importance of properly tagged livestock," said President and Chief
Executive Officer Kevin N. McGrath. "Sales increases were reported
across all regions of the U.S. and across all market sectors,
including dairy, beef and hogs. We are also experiencing increases
in visual tag purchases from our electronic tag customers who
understand the need for visual tags as an augment to their e-tags."
McGrath noted that the expanding move toward electronic RFID
tagging by ranchers, prompted primarily by the need to verify the
sources and history of livestock from birth to the processing
plants, has also increased demand for visual tags, a product which
Digital Angel pioneered more than 60 years ago. While ranchers need
the electronic system to create a permanent history and database
for livestock, visual tags also play a role in easily identifying
the animals, particularly in the early years of their lives. "Even
as the demand for electronic tagging increases, it appears like
visual tags will continue to play an important role," McGrath said.
"Ranchers often need to be able to identify livestock visually and
these tags play a vital role in the processing system. The visual
identification tag business is a foundation of our business and
remains so." Digital Angel's U.S. Visual Identification Products
Division sells visual tags under several brand names, including the
Company's primary brand, Fearing Duflex. Digital Angel notes that
the monthly sales figure reported above is one component of its
animal applications segment sales figure and that this figure may
not necessarily be indicative of the Company's consolidated results
of operations for the three month period ended March 31, 2006.
Digital Angel presently expects to release its first quarter
results in May 2006. 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, Applied Digital Inc. owns 55.4% of
the Company's common stock, 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 assts, 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. Contact: Allen & Caron Inc Michael
Lucarelli (investors) Len Hall (media) 212-691-8087 949-474-4300
DATASOURCE: Digital Angel Corporation CONTACT: Investors, Michael
Lucarelli, +1-212-691-8087, , or Media, Len Hall, +1-949-474-4300,
, both of Allen & Caron Inc, for Digital Angel Corporation Web
site: http://www.digitalangelcorp.com/
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