SOURCE: Implant Sciences

Implant Sciences

September 28, 2010 10:00 ET

Implant Sciences Capturing Critical Market Share in Exploding Defense Markets of BRIC Countries

Increasing Sales and Building Distribution Channels in Brazil, Russia, India and China

WILMINGTON, MA--(Marketwire - September 28, 2010) - Implant Sciences Corporation (OTCQB: IMSC) (PINKSHEETS: IMSC), a high technology supplier of systems and sensors for the homeland security and defense markets, today announced that it continues to make significant inroads into the high-growth defense markets of the fastest developing economies in the world -- Brazil, Russia, India, and China (BRIC).

According to a recent Frost & Sullivan report, the BRIC countries together already account for 13% of global defense expenditures, making them the second largest consumer of defense goods and services in the world, after the United States. The report also quoted industry experts describing the BRIC countries as the hot spots for defense industries, stating that defense spending is expected to escalate at an accelerated pace compared to the rest of the world.

As previously announced, Implant Sciences has received orders of approximately $6 million in India, and is one of only a select group of firms invited to have participated in a trade mission to the country earlier this month. In Russia, Implant Sciences has made sales of its QS-H150 for use at Sheremetyevo International Airport in Moscow following a rigorous review and certification by the Russian Ministry of Transportation. The Company's sales to China have reached an estimated $14 million in new and repeat orders since 2008. Implant is also one of an exclusive group of security and defense firms participating in an executive trade mission to Brazil this week.

"The BRIC countries have soaring defense budgets, driven by force modernization and the intensifying threat of global terrorism. We believe that we can outperform our far larger competitors in these markets based upon the performance of our QS-H150 product in the field," stated Glenn Bolduc, CEO of Implant Sciences. "We have already established valued reseller and distributor relationships in China and India, and look forward to building our distribution channels in Brazil and Russia."

"As we look at current and future revenue growth, new business and re-orders from the BRIC countries is a significant driver of sales for Implant Sciences. As analysts project the BRIC countries to become the wealthiest in the world by 2050, we are well positioned for long-term success in these markets," added Bruce Bower, Senior Vice President of Implant Sciences.

About the Quantum Sniffer QS-H150™

The QS-H150 Quantum Sniffer is a hand-held explosive trace detector that uses Ion Mobility Spectrometry (IMS) to rapidly detect and identify trace amounts of a wide variety of military, commercial, improvised, and homemade explosives. The QS-H150 features a low-maintenance design that is self-calibrating and self-clearing, providing very high levels of operational availability.

About Implant Sciences

Implant Sciences develops, manufactures and sells sophisticated sensors and systems for Security, Safety, and Defense (SS&D) markets. The Company has developed proprietary technologies used in its commercial explosive trace detection systems which ship to a growing number of locations domestically and internationally. Implant Science's QS-H150 Portable Explosives Detector has been Designated as Qualified Anti-Terrorism Technology by the U.S. Department of Homeland Security under the Support Anti-terrorism by Fostering Effective Technology Act of 2002 (the SAFETY Act). For further details on the Company and its products, please visit the Company's website at www.implantsciences.com

Safe Harbor Statement

This press release may contain certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to risks and uncertainties 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, the risks that our explosives detection products and technologies (including any new products we may develop) may not be accepted by governments or by other law enforcement agencies or commercial consumers of security products; economic, political and other risks associated with international sales and operations could adversely affect our sales; our business is subject to intense competition and rapid technological change; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including its most recent Forms 10-K, 10-Q and 8-K. Such statements are based on management's current expectations and assumptions which could differ materially from the forward-looking statements.

Contact Information

  • Contact:
    Implant Sciences Corporation
    Company Contact:
    Glenn Bolduc
    CEO
    978-752-1700
    Email Contact

    or

    Investor Contact:
    Laurel Moody
    646-810-0608
    Email Contact