LENEXA, KS — (Marketwired) — 04/27/17 — Digital Ally, Inc. (NASDAQ: DGLY) (“Digital” or the “Company”), which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial applications, today announced the receipt of an order from an existing customer for DVM-250 in-bus systems and FleetVu Manager cloud software.
The customer, which is one of the largest near-airport parking companies in the United States with operations in more than 30 locations at 20 airports, has awarded the Company–s commercial division a three-year service contract to upgrade its existing fleet of 388 DVM-250 in-bus event recorder systems to include Digital Ally–s FleetVu Manager cloud service, which provides driver training/monitoring and cloud storage. The contract also includes an additional 78 new DVM-250 in-bus video systems equipped with FleetVu Manager, which will complete this customer–s full fleet deployment. The order totals approximately $400,000 in revenue, including FleetVU Manager recurring service over three years. The customer–s shuttle buses pick up and drop off guests at their vehicles or valet lobbies and run continuously to and from airport terminals.
“We continue to be pleased by the success of our commercial division, specifically with our ability to retain and extend our current customer contracts,” said Stan Ross, CEO of Digital Ally, Inc. “We pride ourselves on our ability to provide our customers with the most innovative and cost effective end-to-end total video solution available on the market. Our loyal customers not only renew contracts, but also upgrade their equipment and software,” Ross continued. “With our FleetVu Manager software, every tool a fleet manager needs is in the cloud. Users are able to customize defined feedback parameters for their drivers and automatically have the data uploaded to FleetVuManager.com, without having to sort through hours of recorded video events. This order is an early indication that our corporate-wide strategy to grow our recurring service revenue base appears to be yielding positive results,” concluded Ross.
“Our initial success of the DVM-250 series of commercial event recorders was in the ambulance, taxi, limousine and paratransit market. We are very pleased to report that we continue to gain significant market-share in the airport ground transportation market with this order from a leader in that industry. We are pursuing our goal of widening our commercial sales channels to address additional market opportunities, including ride-sharing, local delivery, overnight delivery, over-the-road trucks, and other vehicle fleet operators,” stated John Rumage, head of the Company–s commercial division.
The DVM-250Plus is supported by Digital Ally–s FleetVu Manager cloud service including driver training/monitoring and cloud storage, which is designed specifically to increase safety in commercial fleet vehicles. The versatility and comprehensive nature of the FleetVu Manager cloud portal and storage was cited as a major reason for this customer–s decision to upgrade and outfit its entire fleet with Digital–s event recorders with cloud service. Another unique and important feature that the Company–s event recorders provide is multi-camera functionality, which allows airport shuttle bus customers to capture video from four cameras — road facing, driver facing, reverse and when the side doors of a bus are in operation.
The DVM-250 is a video event data recorder (VEDR) that is integrated into a rear-view mirror and captures “events” defined by the customer, which generally include accidents, speeding, braking, swerving, and other user-defined triggers, while providing features such as immediate driver feedback. It also records in a continuous loop while simultaneously providing video documentation of events. FleetVu Manager adds powerful real-time asset tracking, automated alerts and telematics capabilities at our customer–s fingertips. Software options include live asset tracking and mapping, posted speed violations and customizable real-time alerts, such as idle time, collisions, geo fences and speeding. FleetVu Cloud enables agency managers to easily monitor their fleet of vehicles and driver performance. Users can store and manage video, update firmware and wireless configurations while using features, such as mapping, reporting and creating driver score cards. FleetVu mobile allows drivers to perform pre- and post-inspections of the vehicle. It instantly sends alerts via SMS or email to fleet managers if there is a breakdown, maintenance request or any issue with that vehicle.
Digital Ally, Inc. develops, manufactures and markets advanced technology products for law enforcement, homeland security and commercial applications. The Company–s primary focus is digital video imaging and storage. The Company is headquartered in Lenexa, Kansas, and its shares are traded on The Nasdaq Capital Market under the symbol “DGLY.” For additional news and information please visit or follow us on Twitter @digitalallyinc and Facebook .
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will continue to gain market share in the airport ground transportation market and also generally broaden its commercial sales channels to take advantage of other market opportunities; whether it will be able to expand its base of recurring revenues; competition from larger, more established companies with far greater economic and human resources; the effect of changing economic conditions; and changes in government regulations and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company–s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2016, as filed with the Securities and Exchange Commission.
Stanton E. Ross
CEO
(913) 814-7774
or
Thomas J. Heckman
CFO
(913) 814-7774
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