Digital Ally (NASDAQ:DGLY)
Historical Stock Chart
6 Months : From Sep 2019 to Mar 2020
Digital Ally, Inc. (NASDAQ: DGLY), which develops, manufactures and markets advanced video recording products for law enforcement, emergency management, fleet safety and security, is pleased to announce that a global leader in the cruise line industry has agreed to a contract extension for its continued use of the Company’s FirstVu HD body-worn cameras and back-office solution, VuVault.com. The contract extension will provide the Company with a recurring service revenue stream for multiple years to come. Since 2016, the Company’s FirstVu HD body-worn cameras have been deployed on security personnel during cruises to reduce frivolous claims and capture interactions between staff and guests.
The contract extension demonstrates the effectiveness of the body-worn camera in de-escalating situations. The unique two-piece design of Digital Ally’s FirstVu HD body camera is the product of choice for security personnel because of its small footprint and light weight design. All video captured is uploaded and stored on VuVault.com, the Company’s back-office solution. VuVault.com is a highly secure platform designed to store, manage, and review video captured during events that take place on the cruise ship.
“This contract extension continues the commitment of safety and security for all staff members and guests aboard the cruise line,” stated Stan Ross, CEO of Digital Ally. “Our two-piece body camera design continues to show its effective application in the commercial industry. We are encouraged to advance our relationship and look forward to other opportunities in the future,” concluded Mr. Ross.
About Digital Ally
Digital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include in-car and body cameras, cloud and local management software, and automatic recording technology. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.
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Contact InformationStanton Ross, CEOTom Heckman, CFODigital Ally, Inc913-814-7774
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 be able to maintain or expand its share of the markets in which it competes with the FirstVu HD and VuVault.com and especially in the commercial marketplace; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates 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, 2018 and quarterly report on Form 10-Q for the three and six months ended June 30, 2019, as filed with the Securities and Exchange Commission.