Avalon Technology Group, Inc. Biometric WiFi Access Control Time Clock on Track for $75 Million Sales in Current Fiscal Year
Market Wire, September, 2008
Avalon Technology Group, Inc. (PINKSHEETS: AVLN) announced today that Avalon executives will travel to NY headquarters of the 3rd International Distribution Partner to be signed this quarter. AVLN biometric products after successful testing have been chosen as the exclusive biometric product supplier for one of the world's largest IT distributors currently supplying software and hardware to companies such as IBM, Siemens, Dupont, Dow Chemical and numerous other worldwide conglomerates.
Under the new exclusive distribution agreement Avalon will become the sole supplier of biometric hardware and software. While in New York this week Avalon executives will be negotiating additional agreements with major leaders in the banking and insurance industry. ATG biometric products underwent rigorous independent testing the past 90 days by these companies. All product installations of the ATG's biometric products were successful with zero product failures and/or returns.
This 3rd International distribution agreement reached this quarter puts the company substantially ahead of its goal to achieve over $50 Million in Sales just for the Biometric WiFi Access Control Time Clock. ATG has proven with this testing that the company product is now the confirmed leader in what is projected to be a $10 Billion market for biometric access control devices worldwide this year.
As previously reported by the company these top tier international partners will allow the company to continue with the aggressive stock restructuring plan, achieve the projected EPS guidelines of $.02-.05. The company still believes in light of its continuing success the common stock is extremely undervalued and at levels below the projected EPS for the fiscal year will remain to be a prudent investment for the company's excess cash flow.
ATG's biometric products and new worldwide partners combined with ATG's successful restructuring of the company initiatives and stock structure have produced 900% gains in the value of the common stock in a period of financial crisis on Wall Street. ATG believes the rapid acceptance achieved in the past and continuing daily will propel both its revenues and earnings per share even in difficult financial times in the United States as its products are now available in 125 countries.
About Avalon Technology Group, Inc.:
Avalon Technology Group is a technology company with operations in software, manufacturing and security products. The Company and its affiliates currently conduct government sales under three GSA contracting vehicles including Minority Owned Women Business and Service Disabled Veteran Owned Small Business, which specializes in providing commercial and government entities with quality services, software and biometric technologies.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
Contact: Avalon Technology Group, Inc. info@AvalonTechSolutions.com
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