NEWS - Record Revenue Qtr reported this AM
Digital Ally Achieves Record Revenue of Over $9.2 Million in Fourth Quarter of 2009BY PR Newswire
— 07:30 AM ET 01/04/2010
OVERLAND PARK, Kan., Jan. 4 /PRNewswire-FirstCall/ -- Digital Ally, Inc. (DGLY which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial security applications, today announced that, on a preliminary unaudited basis, its revenue for the three months ended December 31, 2009 set a new Company record of over $9.2 million. This represents an increase of approximately 37% when compared with revenue of $6.7 million in the prior-year quarter and an increase of over 61% when compared with revenue of $5.7 million in the third quarter of 2009. The Company's previous quarterly revenue record of $8.9 million was posted in the three-month period ended June 30, 2008. For the year ended December 31, 2009, revenue approximated $26.3 million on a preliminary unaudited basis, versus revenue of approximately $32.6 million in the year ended December 31, 2008.
"After a rough first half of the year that was penalized by delays in new product introductions and operating inefficiencies related to the ramp-up in production of our DVM-750 In Car Digital Video System Integrated into a Rear View Mirror, we returned to net profitability in the third quarter and expect to report a further improvement in fourth quarter earnings," stated Stanton E. Ross, Chief Executive Officer of Digital Ally, Inc. (DGLY
"For the full year, we delivered approximately 1,700 DVM-750 systems to customers, including 800 systems in the fourth quarter of 2009."
"We have significantly improved manufacturing productivity in recent months and look forward to 2010, when we expect sales growth to be driven by strong demand for the DVM-750 and our legacy DVM-500 Plus; increasing shipments of our new DM-500 Ultra video system for motorcycles, ATVs and boats, and the recently-introduced FirstVu wearable body camera; entry into the Fleet and Transportation market with the DVM-250; and our planned expansion in the second half of the year into the School Bus video and License Plate Recognition markets," continued Ross. "We ended the year 2009 with approximately 3,250 customers, representing law enforcement agencies in all 50 states and 36 foreign countries that are familiar with our products and reputation for quality customer services. This should provide a solid platform for the introduction of new products, while our feature-rich DVM-750 should allow Digital Ally to make further inroads with large domestic and foreign law enforcement agencies |
