RIDGEFIELD, Conn., 13 April 2005. Markland Technologies, Inc. announced today that the U.S. Army's Night Vision and Electronic Sensors Directorate (NVESD) has awarded the company new orders for technology products and services totaling $2.4 million.
The Army's NVESD research and development group is one of the military's most advanced technological leaders. Markland is working on a range of next-generation technology solutions for the NVESD, including night vision and advanced sensor applications, disposable sensors, and other threat-detection systems.
Many of the products and services being delivered on this contract 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. The Army's NVESD has been responsible for numerous key innovations in the fields of optical electronics and thermal imaging for weapons targeting, electronic surveillance and other mission-critical military applications.
The $2.4 million in new orders come under a five-year omnibus contract. This will bring the total dollars awarded to EOIR Technologies Inc., a wholly-owned subsidiary of Markland, on this NVESD Omnibus contract since July 1, 2004, to approximately $52.9 million.
The company also announced that the Army contracting officer has stated that EOIR Technologies Inc. will be awarded an additional performance year on the contract, thus extending the period for Omnibus contract awards out to July 2007.
Normal practice would allow for tasks awarded by that date to be executed over the following year, allowing backlog to be accumulated on this contract until midyear 2008. EOIR Technologies Inc. has won this contract on three consecutive solicitations over the last 12 years and expects that it will compete for, and as a result of continued excellent performance, believes it will have a very good opportunity to win the five-year follow-on contract to be awarded sometime in 2008.
The ongoing five-year Omnibus contract may provide a maximum ceiling amount of up to $80 million in fiscal year revenues for Markland. The contract has a potential value of approximately $406 million over the life of the contract.
"We are extremely pleased to have been informed by the government of their decision to exercise the one year contract extension for performance," said Robert Tarini, Markland chairman and CEO. "This means that the company will be able to rely on our excellent relationship with the U.S. Army for a period which is at least three more years in duration. At that time we are extremely confident of our ability to re-compete for this contract and win it for a fourth consecutive time."
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. For more information, see www.marklandtech.com.
