RIDGEFIELD, Conn., Oct. 30, 2003 (PRIMEZONE) -- Markland Technologies, Inc. (OTCBB:MRKL), an integrated homeland security company, (www.marklandtech.com) announced today that the company forecasts better than expected sales for the last quarter of 2003 and continued growth in 2004. For the fourth quarter of calendar year 2003, Markland forecasts sales of approximately $3 million.
Chairman Robert Tarini stated, "We anticipate deliveries of goods and services in the month of October to exceed $1M and composite gross revenues for the coming six months of approximately $6M with good prospects for continued growth in 2004. We also expect to reach positive operating cash flow within the next six month period. This will allow us to concentrate equity capital on additional potential acquisitions. In addition we have numerous proposals submitted to multiple DOD and DHS entities for contracts that we hope to come to fruition in the coming months."
Ken Ducey, President and CFO stated, "Our increase in revenue is a direct result of acquisitions which were made possible as a result of a $1.4 million dollar loan to the company by our Chairman Robert Tarini and our Director of Business Development Chad A. Verdi via Bay View Capital. We appreciate the unwavering faith they have demonstrated in our strategy and are grateful for the financing to complete these acquisitions."
As previously announced, Markland will hold a conference call on November 18th for analysts, shareholders, and others, to discuss with Markland's management the company's plan. The company's management will discuss the substantial progress made to date, and present their expectations for the next 12 months. Recent acquisitions made by the company have included revenue-generating corporate assets that will impact the Company's financials in a positive fashion moving forward.
Markland Technologies, Inc is committed to helping secure America by providing innovative emerging technologies and expert services to meet the country's needs to protect our people, our borders and our infrastructure assets.
The Company is a Board member of the Homeland Security Industries Association (http://www.hsianet.org) and is the featured Company on http://www.Homelanddefensestocks.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: 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.
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