Digital Angel (NASDAQ:DIGA), an advanced technology company in the field of animal identification and emergency identification solutions, announced today that it has received orders for over 5,000 units of FAST FIND™, the new range of personal locator beacons produced by its McMurdo unit. These orders have been received since the product was launched on the 12th of February at the Miami International Boat Show, and exceed all expectations. The units are all for immediate delivery.
Digital Angel Chief Executive Officer Joseph J. Grillo commented, “Orders since mid-February, when the FAST FIND was launched, represent an increase of more than 400% against both budget and forecast. To put this in perspective, with sales at this level we are now on course to ship more PLBs in 2009 than we did in the previous three years combined. Interest is particularly strong in the US and the UK, where the necessary regulatory Type Approvals are in place, and we expect to gain ground rapidly in Australia, New Zealand and Canada once approvals are granted in those countries.
“The new FAST FIND represents a giant leap forward in safety communications,” Grillo continued. “Awareness of the benefits of carrying an emergency distress beacon like this model is growing very rapidly throughout the world. This has certainly helped enhance our sales, but the big factor is the size and affordability of the unit, which puts it roughly in the same class as a mobile phone, plus it works in the middle of nowhere where the phone doesn’t.” The unit retails for just $299 plus tax and, unlike some competing products such as the SPOT™, FAST FIND requires no subscription fees or other recurring charges.
PLBs have traditionally been used at sea and by small aircraft pilots, but their use on land by adventurers, hunters and outdoor sports enthusiasts is now rapidly growing, especially following recent incidents in which loss of life could have been prevented through the use of such life-saving devices. The PLB is registered to search and rescue authorities by the user, so it’s a piece of personal equipment, and if it has to be activated in an emergency, authorities can quickly identify the signal.
For further information about FAST FIND please visit: www.fastfindplb.com/.
About McMurdo
A division of Digital Angel’s Signature Industries subsidiary, based in the United Kingdom, McMurdo is a world leading producer of Emergency Position Indicating Radio Beacons (EPIRBs), Personal Locator Beacons (PLBs), Search and Rescue Transponders (SARTs), VHF Radios and NAVTEX for the maritime and leisure markets, including shipping, yachting, aviation and outdoor adventure pursuits. Products are manufactured using state-of-the art technology, and in partnership with the world’s major safety regulatory organizations.
About Digital Angel
Digital Angel (www.digitalangel.com) is an advanced technology company in the field of animal identification and emergency identification solutions. Digital Angel's products are utilized around the world in such applications as pet identification using its patented, FDA-approved implantable microchip; livestock identification and tracking using visual and radio frequency identification (RFID) ear tags; and global positioning systems (GPS) search and rescue beacons for use on aircraft, ships and boats, and by adventure enthusiasts.
This press release contains certain “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements included in this press release include, without limitation, those concerning expectations regarding the expected benefits and performance of the technology, its rate of adoption and its impact on the Company’s financial results. These forward-looking statements are based on the Company's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions. Additional information about these and other factors that could affect the Company's businesses is set forth in the Company's Form 10-K under the caption "Risk Factors" filed with the Securities and Exchange Commission ("SEC") on March 17, 2008, and subsequent filings with the SEC. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
Digital Angel
Jay McKeage, 651-554-1564
jmckeage@digitalangel.com
