Science & Technology
Science and Technology
Science and Technology
Thu, February 26, 2009
DRI Corporation Announces More Than $3.0 Million in Orders Received by Its Domestic Operations
DALLAS--([ BUSINESS WIRE ])--[ DRI Corporation ] (DRI) (NASDAQ: TBUS), a digital communications technology leader in the domestic and international surface transportation and transit security markets, announced today that its U.S. subsidiaries, both based in Durham, N.C., have received orders for Digital Recorders® engineered systems and TwinVision® electronic information display systems (EIDS), respectively, with a combined value of more than $3.0 million.
David L. Turney, the Company's Chairman, President and Chief Executive Officer, said: "Our Digital Recorders, Inc. subsidiary has received orders for Digital Recorders® engineered systems from several customers, the combined value of which is in excess of $2.3 million. In addition, our TwinVision na, Inc. subsidiary has received more than $900,000 in additional orders for its latest EIDS technology, the TwinVision® Smart Series. We believe these new EIDS products have been well accepted by our customers since the May 2008 product launch."
Management anticipates that product delivery will commence in first quarter 2009 and conclude in third quarter 2009.
ABOUT THE DIGITAL RECORDERS, INC. SUBSIDIARY
Established in 1983, Digital Recorders, Inc. designs, manufactures, sells, and services intelligent transportation solutions for the transit industry. Products include: Digital Recorders® computer-aided dispatch/automatic vehicle location systems; Digital Recorders® automatic vehicle monitoring systems; Talking Bus® automatic voice announcement systems; Digital Recorders® vandal-resistant, hands-free driver microphones; VacTell™ video actionable intelligence systems, and more. For more information, visit [ www.digitalrecorders.com ].
ABOUT THE TWINVISION NA, INC. SUBSIDIARY
Established in 1996, TwinVision na, Inc. designs, manufactures, sells, and services TwinVision® electronic destination sign systems used on public transit vehicles. With leading edge technology, the subsidiary was the first established U.S. supplier to bring amber- and multi-colored, solid-state displays to the U.S. market, innovatively replacing the decades' old flip-dot, bulb, and ballast technology. For more information, go to [ www.twinvisionsigns.com ].
ABOUT THE COMPANY
DRI is a digital communications technology leader in the domestic and international public transportation and transit security markets. Our products include: TwinVision® and Mobitec® electronic destination sign systems, Talking Bus® voice announcement systems, Digital Recorders® Internet-based passenger information and automatic vehicle location/monitoring systems, and VacTell™ video actionable intelligence systems. Our products help increase the mobility, flow, safety, and security of people who rely upon transportation infrastructure around the globe. Using proprietary hardware and software applications, our products provide easy-to-understand, real-time information that assists users and operators of transit bus and rail vehicles in locating, identifying, boarding, tracking, scheduling, and managing those vehicles. Our products also aid transit vehicle operators in their quest to increase ridership and reduce fuel consumption, as well as to identify and mitigate security risks on transit vehicles. Positioned not only to serve and address mobility, energy conservation, and environmental concerns, our products also serve the growing U.S. Homeland Security market. For more information about the Company and its operations worldwide, go to [ www.digrec.com ].
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements concerning the timing and amount of new orders or their expected delivery and installation dates, the potential benefit such orders may have on our ongoing operations, our belief that expected orders may reflect growing market acceptance of our products, together with any statement, express or implied, concerning future events or expectations, is a forward-looking statement. Use of words such as "expect," "fully expect," "expected," "appears," "believe," "belief," "plan," "anticipate," "would," "goal," "potential," "potentially," "range," "pursuit," "run rate," "stronger," "preliminarily," "may," etc., is intended to identify forward-looking statements that are subject to risks and uncertainties, including the risk that the assumptions behind the new orders and their expected delivery and installation dates are incorrect, that we have misperceived the market acceptance of our products, as well as other risks and uncertainties set forth in our Annual Report on Form 10-K filed March 31, 2008, and as updated in our Quarterly Report on Form 10-Q filed Nov. 14, 2008, particularly those identified in Risk Factors Affecting Our Business. There can be no assurance that any expectation, express or implied, in a forward-looking statement will prove correct or that the contemplated event or result will occur as anticipated.
