LAS VEGAS, Aug. 22, 2013 (GLOBE NEWSWIRE) -- Inova Technology (OTCBB: INVA ), through its wholly owned subsidiary, Desert Communications, has announced that it has completed $750,000 worth of network solutions projects for Clint Independent School District.
Inova CEO, Adam Radly, said, "The project for Clint is scheduled to be completed in September. The Company is operating at full capacity so completion of this project will allow us to start on new projects for El Paso ISD and others."
The Company previously announced that it has as a backlog of awarded contracts worth $42 million. More information regarding the backlog can be found in the press release dated July 2, 2013. Inova CEO, Adam Radly, said, "The Company's contract backlog is very healthy and gives us and our stakeholders a lot of visibility into our future revenue."
Mr. Radly also said, "We will continue to provide updates regarding the commencement and completion of the major projects that we have previously announced over time as they occur."
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 any given period. They only reflect a portion of the revenue generated by Desert Communications and exclude revenue from its other subsidiary, Trakkers.
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 . Contact: Adam Radly, info@inovatechnology.com .
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.
