RIDGEFIELD, Conn., March 1, 2005 (PRIMEZONE) -- Markland Technologies, Inc. (OTCBB:MRKL), a defense and homeland security company transforming advanced laboratory technology into real-world products, announced today that its wholly owned subsidiary EOIR Technologies Inc. has completed development of a new airborne optical surveillance sensor named the Lightweight Image-Enhanced Zoom-able Reconnaissance Device (LIZRD).
The LIZRD airborne reconnaissance device is a unique compact aerial high resolution imaging system designed to be flown in conjunction with hyper-spectral sensors, which offer a high resolution view of an aerial scene. The LIZRD utilizes a fiber optic gyro and GPS for altitude and position information, as well as a high resolution line scanning camera with a digital capture capability for imagery data collection. LIZRD performs motion correction to compensate for aircraft attitude variation, stamping the information onto digital imagery data for either real-time motion correction or post processing. Mission and imagery analysis software are also included with the LIZRD sensor suite.
This new product development is one of a number which are currently under way within the Software and Systems Research and Development Division (SSRD) at EOIR Technologies Inc. The SSRD product development team consists of 30 employees with diversified skill sets in the areas of: software, electrical and mechanical engineering, as well as graphic design and training. They are located in a new state of the art design and development facility located in Fredericksburg, Virginia that houses several technical laboratories which include: an electronics lab, three systems integration labs, and a mechanical and laser lab. These laboratories provide SSRD development team members with ample space to develop new software and systems solutions and products as well as conduct state of the art research in electro-optics and infra-red technology.
"This new state of the art facility allows our division to optimize existing projects, expand productivity, and grow new capabilities," states EOIR Vice President Diane Deterline, who heads the SSRD division. "Our business plan is centered around dual use technologies which can be applied to both the DOD and Homeland Security marketplaces. To that extent the fabulous people we have working at SSRD are providing Markland with new and innovative product concepts which we hope to leverage to increase revenues and gross margins for the business," states Markland CEO Robert Tarini.
Many of the products and services being delivered from EOIR utilize next-generation electro-optic and infrared sensor technologies that are being used in direct support of U.S. military combat operations in Iraq, Afghanistan and elsewhere.
About Markland Technologies
Markland Technologies, Inc. is committed to setting next-generation standards in defense and security through the provision of innovative emerging technologies and expert services. The Company is engaged in the identification of advanced technologies currently under development in laboratories, universities and in private industry, and in the transformation of those technologies into next-generation products. Markland's solutions support military, law enforcement and homeland security personnel to protect the nation's citizens, borders and critical infrastructure assets from the threat of terrorism and other dangers. Through strategic development, Markland focuses on the creation of dual-use technology and products with applications in both the defense market and civilian homeland security and law enforcement fields. The Company is a Board Member of the Homeland Security Industries Association, and is a featured Company on HomelandDefenseStocks.com; additional details can be viewed at http://www.homelanddefensestocks.com/Companies/MarklandTech. For more information about the Company and its products, please visit the Markland home page at http://www.marklandtech.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: a reduction in order rates from the Army's Night Vision and Electronic Surveillance Directorate, difficulties integrating our acquisition of EOIR, 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.
Markland Technologies, Inc is a featured Company on http://www.HomelandDefenseStocks.com, a service for which Markland compensates the provider.
For full details, click here: http://www.homelanddefensestocks.com/Companies/MarklandTech/NewsReleases.asp
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More information on Homeland Security issues, including news releases, events and experts available for comment, can be found on the Homeland Security Newsline at www.primezone.com/hs