PARAGON TECHNOLOGIES AWARDED AN $875,000
AUTOMATION CONTRACT BY A HIGH QUALITY
FASHION JEWELRY RETAILER
EASTON, PA — May 3, 2006 -- Paragon Technologies, Inc. (AMEX:PTG), a leading supplier of “smart” material handling systems and “software-driven” warehouse and distribution center solutions, announced today that its SI Systems’ Order Fulfillment brand received an order totaling approximately $875,000 to provide a high volume, automated order fulfillment system for distribution of high quality fashion jewelry. The system incorporates the Company’s innovative DISPEN-SI-MATIC ® technology, powered by proprietary SINTHESIS ™ software. Detailed terms of the contract were not disclosed.
Joel Hoffner, President and CEO of Paragon Technologies, commented, “This is an exciting order from a new customer. We are pleased to have been chosen as the preferred supplier for this order fulfillment system project. Our entire team is committed to the successful implementation of this advanced automation system and, ultimately, to our client’s success. We are looking forward to continued market recognition of our SI Systems’ Order Fulfillment brand’s capability in the implementation of solutions for complex distribution centers.”
Paragon’s SI Systems’ Order Fulfillment and Production & Assembly technologies drive productivity at Fortune 1000 companies and the United States Government.
About Paragon Technologies
Paragon Technologies is a leader in integrating material handling systems and creating automated solutions for material flow applications. SI Systems’ Production & Assembly and Order Fulfillment branded technologies and material handling solutions address unit assembly handling and order fulfillment applications. One of the top material handling systems suppliers worldwide, SI Systems leading clients have included the United States Postal Service, General Motors, BMG, Ford, Peterbilt, Harley-Davidson, and Walgreens.
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Cautionary Statement . Certain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities and Exchange Commission rules, regulations and releases. Paragon intends that such forward-looking statements be subject to the safe harbors created hereby. Among other things, the forward-looking statements regard Paragon's earnings, liquidity, financial condition, review of strategic alternatives, and other matters. Words or phrases denoting the anticipated results of future events, such as “anticipate,” “does not anticipate,” “should help to,” “believe,” “estimate,” “is positioned,” “expects,” “may,” “will,” “is expected,” “should,” “continue,” and similar expressions that denote uncertainty, are intended to identify such forward-looking statements. Paragon's actual results, performance, or achievements could differ materially from the results expressed in, or implied by, such “forward-looking statements:” (1) as a result of factors over which Paragon has no control, including the strength of domestic and foreign economies, sales growth, competition, and certain cost increases; and (2) if the factors on which Paragon's conclusions are based do not conform to its expectations. Furthermore, achievement of the objectives of the Company following the sale of Ermanco is subject to risks associated with business disruption resulting from the announcement of the sale and other risks outlined in Paragon's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2004 and the most recent quarterly report on Form 10-Q for the quarter ended June 30, 2005.
