Trading around 2 3/16...going higher:
Digital Recorders Reports Preliminary Third Quarter
Sales
- 100 Percent Increase from Year Ago Quarter -
RESEARCH TRIANGLE PARK, N.C., Oct. 22 /PRNewswire/ --Digital Recorders, Inc. (Nasdaq: TBUS - news) today
announced record sales, on a preliminary basis, for the third quarter ended September 30, 1999.
The company reported third quarter sales climbed 100 percent to $6.6 million from $3.3 million in the 1998 third quarter. For
the nine month period, sales rose to $15.6 million as compared to $8.5 million for the same period a year ago; an increase of
84% on continuing operations (the company divested the HIS business unit in the second quarter last year). Final results,
including earnings, are expected to be released on or about November 5, 1999.
``Third quarter shipments reflect the continuing improvements at DRI. Our backlog is exceptionally strong, exceeding $13
million with deliveries extending into the year 2000. This bodes well for DRI to be profitable during the second half of 1999
compared to the substantial loss in the same period last year,' said David L. Turney, DRI's Chairman and CEO.
DRI is a market leader in transit, transportation and law enforcement and digital communications systems using proprietary
software applications. The company develops and markets technologically advanced digital communications systems for transit,
transportation applications and digital signal processing equipment for law enforcement applications. The company's transit and
transportation systems include TALKING BUS©, an on-vehicle internal voice messaging and passenger information system
and the TwinVision© LeDot Destination Sign System -- a proprietary, electronic external destination sign.
Statements which are not historical facts, including statements about the companies confidence and strategies and its
expectations about new and existing products, technologies and opportunities, market and industry segment growth, demand
and acceptance of new and existing products are forward looking statements that involve risks and uncertainties. The risks
include, but are not limited to, product demand and market acceptance risks; the impact of competitive products and pricing;
the effects of economic conditions and trade, legal, social and economic risks, such as import, licensing and trade restrictions;
the result of the company's business plan and the impact on the company of its relationship with its lender.
SOURCE: Digital Recorders, Inc. |
