DRI Corporation (DRI) (NASDAQ: TBUS), a digital communications
technology leader in the domestic and international surface
transportation and transit security markets, announced today that,
according to preliminary results for first quarter 2008, management
expects to report net sales of approximately $17 million, a record high
for first quarter sales volume and an increase of approximately 42
percent over net sales for the same period last year for continuing
operations.
David L. Turney, Chairman, President, and Chief Executive Officer, said: “Our
increasing revenue, improved operating results, and strong backlog in
first quarter 2008 suggest that the plans we’ve
made, implemented, and refined during the past few years are unfolding
in a very positive manner. We expect to report a profitable first
quarter 2008.”
On or about May 15, 2008, the Company plans to file with the Securities
and Exchange Commission a Form 10-Q for the period ended March 31, 2008.
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 or amount of future revenues, expectations of
profitability, expected business and revenue growth trends, future
annualized revenue run rates, and anticipated increases in shareholder
value, as well as any statement, express or implied, concerning future
events or expectations or which use words such as “expect,”
“fully expect,” “expected,”
“appears,” “believe,”
“plan,” “anticipate,”
“would,” “goal,”
“potential,” “potentially,”
“range,” “pursuit,”
“run rate,” “stronger,”
“preliminarily,”
etc., is a forward-looking statement. These forward-looking statements
are subject to risks and uncertainties, including risks and
uncertainties that we may not have accurately forecasted the timing or
amount of future revenues, that our expectations as to future business
and revenue growth trends, future annualized run rates, and increases in
shareholder value may not prove accurate over time, as well as other
risks and uncertainties set forth in our Annual Report on Form 10-K
filed March 31, 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.
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