Exec VP & CFO
Tom Robinson, Exec VP, StarTrak
|Investor Relations Contact:
John Nesbett / Jennifer Belodeau
Institutional Marketing Services (IMS)
Alanco's StarTrak Awarded $2.6 Million Follow-On GenTrak(R) Contract From Major Refrigerated Container Shipping Company
(Scottsdale, AZ – December 21, 2010) – Alanco Technologies, Inc. (NASDAQ: ALAN), today announced that its subsidiary StarTrak Systems has been awarded a follow-on contract from a current major refrigerated container customer valued at $2.6 million for additional GenTrakŪ genset-based GPS monitoring systems and a five year data services agreement. Diesel-fueled generators or “gensets” provide electric power for ocean-going refrigerated containers when on land. Equipment shipments under the new contract commenced in December, 2010, with completion expected by February/March, 2011.
The GenTrakŪ system allows the customer to measure fuel, operational status and location of genset-powered refrigerated containers, providing continuing real-time “reefer” visibility and shipment quality while containers are transported throughout North America. GenTrakŪ data services also enables StarTrak’s container customer to provide genset / reefer monitoring and management services to third party shipping companies, allowing instant identification of adverse situations, such as equipment, fuel and reefer operating problems, which could negatively affect shipment quality and delivery.
Tom Robinson, StarTrak Executive Vice President commented, “With GenTrakŪ advanced telematics information technology, container customers are developing new and important services focused on improving shipping performance and thereby enhancing their return on investment. This large follow-on contract from a current customer, and major player in the international container shipping market, serves to highlight StarTrak’s leading role in providing telematics information technology to the refrigerated container market.”
Alanco Technologies, Inc. provides wireless monitoring and asset management solutions through its StarTrak Systems subsidiary. StarTrak Systems is the dominant provider of tracking, monitoring and control services to the refrigerated or “Reefer” segment of the transportation marketplace, enabling customers to increase efficiency and reduce costs of the refrigerated supply chain. For more information, visit the Alanco website at www.alanco.com or StarTrak Systems at www.startrak.com.
EXCEPT FOR HISTORICAL INFORMATION, THE STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL SUCH FORWARD-LOOKING STATEMENTS ARE SUBJECT TO, AND ARE QUALIFIED BY, RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THOSE STATEMENTS. THESE RISKS AND UNCERTAINTIES INCLUDE, BUT ARE NOT LIMITED TO, REDUCED DEMAND FOR INFORMATION TECHNOLOGY EQUIPMENT; COMPETITIVE PRICING AND DIFFICULTY MANAGING PRODUCT COSTS; DEVELOPMENT OF NEW TECHNOLOGIES THAT MAKE THE COMPANY’S PRODUCTS OBSOLETE; RAPID INDUSTRY CHANGES; FAILURE OF AN ACQUIRED BUSINESS TO FURTHER THE COMPANY’S STRATEGIES; THE ABILITY TO MAINTAIN SATISFACTORY RELATIONSHIPS WITH LENDERS AND REMAIN IN COMPLIANCE WITH FINANCIAL LOAN COVENANTS AND OTHER REQUIREMENTS UNDER CURRENT BANKING AGREEMENTS; AND THE ABILITY TO SECURE AND MAINTAIN KEY CONTRACTS AND RELATIONSHIPS.
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