Orders Over The Past 60 Days Exceed $7M
WAKEFIELD, Mass.–Implant Sciences Corporation (AMEX: IMX – News), a high technology supplier of systems and sensors for the homeland security market and related industries, today announced new orders totaling more than $4,200,000 for its Quantum SnifferTM QS-H150 portable explosives detectors. The units are to be delivered to distributors and customers in Asia and Europe.
“Our sales team continues to work very hard with our various distributors and customers, resulting in an all-time high for orders of our security products,” stated Phillip C. Thomas, President and CEO of Implant Sciences. “Combined with the $2.7 million in orders announced in our May 29th press release, we have received more than $7.0 million of new business during the past 60 days.”
Mr. Thomas added, “One of our ongoing objectives has been to increase sales from existing customers while also adding new geographic locations where we do business. This has been facilitated by recently obtaining the CE mark on the H-150 which has opened the door to sales in locations where that certification is a requirement. These new orders are a partial fulfillment of our diversification goal as we are beginning to see expanded use of our products to help meet security needs in various countries. It should be noted that while we are pleased with these new orders, we recognize much of the volume is being driven by international events in Asia that are somewhat time dependent. Thus, we expect these volumes may not necessarily be sustainable. However, we are encouraged by the growth of the product line in Asia and the corresponding widening of our distribution efforts resulting in further sales in Europe, both of which could have a positive impact on future demand.”
The QS-H150 provides high performance and reliability in the detection and recognition of a wide range of trace amounts of explosives combined with a low total cost of ownership. Annual maintenance requirements are minimal and consist primarily of normal care and cleaning using common supplies. Unlike some competitive units, calibration is autonomous, continuous, and requires virtually no consumables. Furthermore, since there are no radioactive materials used in the QS-H150, there are no associated certifications, licenses, inspections, or end-of-life disposal issues. As such, customers have a cost-effective product available to them that can perform in a wide range of environments in support of efforts to improve their overall security profile and meet mission critical objectives.
About Implant Sciences
Implant Sciences develops, manufactures and sells sophisticated sensors and systems for the Security, Safety and Defense (SS&D) industries. The Company has developed proprietary technologies used in its commercial portable and bench-top explosive trace detection systems which ship to a growing number of locations domestically and internationally. For further details on the Company and its products, please visit the Company’s website at www.implantsciences.com.
Safe Harbor Statement
This press release contains certain “forward-looking statements,” as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and are subject to risks and uncertainties that could cause the Company’s actual results to differ materially from the forward-looking statements. Such risks and uncertainties include, but are not limited to, the Company’s ability to successfully ship sufficient quantities of H-150 explosives detection equipment to meet the orders received, continued solicitation of orders for the sale of additional equipment in Asia, Europe, and other international locations, sustainability of these order volumes in the future and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its most recent Forms 10-K, 10-Q and 8-K.
For further information, you are encouraged to review Implant Sciences’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the period ended June 30, 2007 and Quarterly Reports for the periods ended September 30, 2007, December 31, 2007 and March 31, 2008. The Company assumes no obligation to update the information contained in this press release.