Inova Subsidiary Has Completed Projects Worth $18 Million Out of a Total of $30 Million
LAS VEGAS, Jan 31, 2013 (GLOBE NEWSWIRE via COMTEX) --
Inova Technology (OTCQB:INVA) ("INVA"), through its wholly owned subsidiary, Desert Communications, has announced that it currently has completed $18 million of projects in the past 12 months out of a total of $30 million of backlog projects.
Inova CEO, Adam Radly, said, "Desert's management has obviously done a great job developing this backlog then executing the completion of the projects. This is also a reflection of our track record of being able to consistently complete projects on time and on budget while still providing high quality service."
Mr. Radly also said that, "The Company is also bidding on additional projects and we expect to be able to provide an update regarding our success rate in the near future."
The majority of the projects in the current backlog are network solutions projects for government customers in the Texas area. The backlog includes more than 15 customers and consists of a combination of both new and previous customers. The larger projects are network solutions projects for Ft Worth and Dallas School Districts.
These projects do not represent all of Inova's revenue for the previous twelve months. They only reflect revenue from Desert Communications and exclude revenue from its other subsidiary, Trakkers.
Mr. Radly also said, "We are also working on the development of some exciting proprietary solutions that will enable us to take advantage of our unique asset tracking technology."
About Inova Technology
Inova Technology, Inc. (INVA) is an enterprise level Information Technology solutions provider specializing in providing proprietary RFID solutions, wireless networking, storage and security technology solutions and IT professional services. For more information please visit the company website at: http://www.inovatechnology.com.
The Inova Technology Holdings LLC logo is available at http://www.globenewswire.com/newsroom/prs/ pkgid=16952
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
CONTACT: Adam Radly, firstname.lastname@example.org
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