Petroleum Helicopters (NASDAQ:PHEL)
Historical Stock Chart
From Dec 2019 to Dec 2024
Digital Angel's Outerlink Subsidiary Obtains Increased Commitment From Petroleum
Helicopters, Inc.
Petroleum Helicopters to Equip Its Entire Fleet with the OuterLink CP-2 Satcom
System For Automatic Flight Following
SO. ST. PAUL, Minn., Feb. 23 /PRNewswire-FirstCall/ -- Digital Angel
Corporation , an advanced technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of high-value
assets, today announced that its recently-acquired OuterLink subsidiary has
secured a major commitment from Lafayette, LA-based Petroleum Helicopters, Inc.
(PHI) to equip its entire helicopter fleet with the OuterLink CP-2 Satcom
System for automatic flight following. To date, PHI has equipped over 65 of its
helicopters with OuterLink's CP-2 systems.
By standardizing its fleet with the OuterLink system, PHI can accurately track
the location and status of all of its helicopters virtually anywhere in North
America, regardless of weather conditions. In addition toproviding real-time
flight following, the OuterLink system also supports bi-directional messaging
between helicopters and the PHI flight operations center in Lafayette.
Carlin Craig, PHI's Director of Operations, commented, "Our decision to
standardize on the OuterLink system was based on the dependable performance of
OuterLink's CP-2 Satcom Systems, OuterLink's operational support capabilities,
and PHI's evaluation of competitive alternatives that rated the OuterLink
solution as the best choice formeeting its operational requirements."
"We are very pleased by Petroleum Helicopters' decision to equip the balance of
its fleet with our CP-2 Satcom Systems," stated Kevin McGrath, Digital Angel's
CEO. "This action by PHI, one of the industry leaders, not only acknowledges
OuterLink's state-of-the-art technology, but also recognizes the commitment our
entire team makes to serving our customers."
About Petroleum Helicopters, Inc.
Based in Lafayette, LA, Petroleum Helicopters (NASDAQ:PHEL) provides helicopter
transportation and related services to a broad range of customers, including the
oil and gas industry and air medical programs.
About OuterLink
Digital Angel's recently-acquired OuterLink subsidiary provides secure,
real-time satellite-based systems that track, monitor and communicate with
fixed- and rotor-wing aircraft in a wide range of applications including law
enforcement, natural resource management, air ambulance, and air taxi fleet
operations.
About Digital Angel Corporation
Digital Angel Corporation develops and deploys sensor and communications
technologies that enable rapid and accurate identification, location tracking,
and condition monitoring of high-value, mobile assets. Applications for the
Company's products includeidentification and monitoring of pets, fish and
livestock through its patented implantable microchips; location tracking and
message monitoring of vehicles and aircraft in remote locations through systems
that integrate GPS and geosynchronous satellitecommunications; and monitoring
of asset conditions such as temperature and movement, through advanced miniature
sensors.
Digital Angel Corporation is majority-owned by Applied Digital Solutions, Inc.
(NASDAQ:ADSX). For more information about Digital Angel, please visit
http://www.digitalangelcorp.com/.
The statements in this press release that are not strictly historical are
"forward-looking" statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are
intended to be covered by the safe harbors created by these sections. The
forward-looking statements are subject to risks and uncertainties and the actual
results that the Company achieves may differ materially from these
forward-looking statements due to such risks and uncertainties, including, but
not limited to, that the Company's historical losses and negative cash flows
from operations raise doubt about the Company's ability to continue as a going
concern; that theCompany's stockholders will experience dilution if certain
debt owned by the Company is converted into common stock; that the Company's
stockholders will experience dilution when the stock purchase agreement with
Applied Digital Solutions closes; the risk of foreclosure on substantially all
of the Company's assets; that the Company's majority stockholder, Applied
Digital Solutions, Inc. is able to completely control the board of directors and
may support actions that conflict with the interests of other stockholders; that
the Company's earnings will decline if it writes off additional goodwill and
other intangible assets; that exercises of the Company's options and warrants
outstanding and available for issuance may adversely affect the market price of
the Company's common stock, the Company's inability to generate income, the
Company's Wireless and Monitoring segment's ability to achieve profitability,
the Company's ability to maintain patent and trade secret protection, domestic
and foreign government regulation, the Company's sales to government contractors
of animal identification products, dependence on a single production arrangement
for its patented syringe- injectable microchips, dependence on principal
customers, competition in the visual and electronic identification markets,
risks as a result of foreign operations, foreign currency rate fluctuation,
dependence on a small team of senior management and the Company's ability to
develop, integrate, miniaturize and market the Digital Angel TM technology. A
detailed statement of risks and uncertainties is contained in the Company's
reports to the Securities and Exchange Commission, including in particular the
Company's Form 10-Q for the quarter ended September 30, 2003. Investors and
stockholders are urged to read this document carefully. The Company can offer
no assurances that any projections, assumptions or forecasts made or discussed
in this release will be met, and investors should understand the risks of
investing solely due to such projections. The Company undertakes no obligation
to revise any forward- looking statements in order to reflect events or
circumstances that may arise after the date of this press release.
Contact: Allen & Caron Inc
Jay F. McKeage (investors) Len Hall (media)
212-691-8087 949-474-4300
DATASOURCE: Digital Angel Corporation
CONTACT: Investors, Jay F. McKeage, +1-212-691-8087, ,
or Media, Len Hall, +1-949-474-4300, , both of Allen & Caron
Inc for Digital Angel Corporation
Web site: http://www.digitalangelcorp.com/