WILMINGTON, Mass., Feb. 18, 2016 /PRNewswire/ -- Implant Sciences Corporation (OTCQB: IMSC), a leading manufacturer of explosives trace detection (ETD) solutions for Department of Homeland Security (DHS) applications, today announced that it has shipped $1.3 million of its QS-B220 desktop explosives and drugs trace detectors and QS-H150 handheld explosives trace detectors to customers worldwide since the beginning of 2016. The previously unannounced shipments were made over the past six weeks are scheduled to be deployed for applications such as aviation security, critical infrastructure protection, and cargo security.
"Our products continue to be selected as the trace detection technology of choice throughout the world and I am very pleased that we are making significant progress in non-aviation markets," stated Dr. Darryl Jones, Implant Sciences' Executive Vice President. "We are executing solidly on our revenue generation plan for our fiscal year 2016, having achieved unprecedented growth of 670% in in our first quarter ended September 30, 2015 as compared to the previous year, followed by a robust second quarter ended December 31, 2015, with a 381% year-over-year increase."
Commenting on Implant Sciences' ongoing strategic plans, Bob Liscouski, President of Implant Sciences, stated, "Even as we are pleased with our significant revenue growth, as our CEO Dr. McGann stated on last week's earnings call, we are also pursuing a number of strategic initiatives to drive greater shareholder value and we are working closely with our lenders to restructure our credit instruments for the benefit of the company. We have received a number of shareholder inquiries as to why our board and management team members are not purchasing our stock in support of the company. Due to our ongoing and progressing strategic initiatives, our directors and officers are unable to purchase any company stock at this time so that we may be in full compliance with all SEC regulations. That said, we are taking this opportunity to reaffirm to our shareholders that our board and management have the utmost confidence in our company and its performance."
About the QS-B220 Desktop Explosives Trace Detector
The QS-B220 uses Ion Mobility Spectrometry (IMS) to rapidly detect and identify trace amounts of a wide variety of military, commercial, and homemade explosives. Featuring a radioactive material-free design, push-button maintenance and diagnostics, and a patented inCal™ internal automatic calibration system, the QS-B220 brings new levels of performance and convenience to desktop trace detection users with unsurpassed ease of use.
About the QS-H150 Handheld Explosives Trace Detector
The QS-H150 utilizes Ion Mobility Spectrometry (IMS) technology, providing fast, accurate detection of trace amounts of a wide variety of military, commercial, and homemade explosives. Built with no radioactive materials and featuring a low-maintenance, self-calibrating, and self-clearing design, the QS-H150 provides very high levels of operational availability. The QS-H150 has been proven to perform well in a wide variety of temperatures and challenging environments, from humid jungles to dry, sand swept deserts.
About Implant Sciences
Implant Sciences is a leader in developing and manufacturing advanced detection capabilities to counter and eliminate the ever-evolving threats from explosives and drugs. The Company's team of dedicated trace detection experts has developed proprietary technologies used in its commercial products, thousands of which have been sold across more than 70 countries worldwide. The Company's ETDs have received approvals and certifications from several international regulatory agencies including the TSA in the U.S., ECAC in Europe, CAAC and the Ministry of Public Safety in China, Russia FSB, STAC in France, and the German Ministry of the Interior. It has also received the 2015 GSN Airport/Seaport/Border Security Award for "Best Security Checkpoint". For further details on the Company and its products, please visit the Company's website at www.implantsciences.com.
Cautionary Note Regarding Forward-Looking Statements
This press release and any statements of employees, representatives and partners of Implant Sciences Corporation (the "Company") related thereto contain or may contain certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. Such statements are based on management's current expectations and are subject to significant risks and uncertainties (many of which are beyond the Company's control) 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 (i) the risk that the Company's strategic initiatives referenced herein may not actually occur, or if they occur, that they will not benefit the Company's shareholders, (ii) the risk that deployment of the Company's devices may not occur as planned, (ii) the risk that there is no guaranty that the Transportation Security Administration (TSA) or any other U.S. or foreign government and law enforcement agencies or commercial consumers will purchase any of the Company's explosives detection products or that any new products the Company may develop will be accepted by the TSA or by such other governments, agencies or consumers, (iii) economic, political and other risks associated with international sales and operations could adversely affect the Company's sales, (iv) the Company's business is subject to intense competition and rapid technological change, and the Company's ability to generate revenue and profit will depend on its ability to develop and introduce new products and (v) 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. In light of these risks and uncertainties, readers are cautioned that actual results may differ significantly from those described or anticipated in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law.
Implant Sciences Corporation
978-752-1700 x 116
SOURCE Implant Sciences Corporation