DRI Corporation Notes Approximately $75 Billion Total Authorized for Transit-Related Projects by Voters in 16 States.* Fiscal Year 2008 Earnings Guidance Updated * Third Quarter 2008 Investors' Conference Call Slated Nov. 17, 2008, at 11 a.m. (Eastern) * CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Interview Available Via Company's Web Site, www.digrec.com DALLAS -- DRI See Digital Research. Corporation (DRI) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TBUS TBUS Token Bus ), a digital communications Transmitting text, voice and video in binary form. See communications. technology leader in the domestic and international surface transportation and transit security markets, noted today that, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Center for Transportation Excellence (CFTE CFTE Center for Transportation Excellence CFTE Critical Fluid Thermal Equilibration ), voters approved 74 percent of the 32 transit-related ballot initiatives in 16 states, authorizing on Nov. 4, 2008, a combined total of more than $75 billion in new funding for those initiatives. David L. Turney, the Company's Chairman, President, and Chief Executive Officer, said: "The continued success of transit-related ballot measures across the U.S. is especially noteworthy this year considering the ongoing economic challenges facing the nation. This positive outcome underscores the fact that Americans are pressing for additional and improved transit-related services -- even during a weak economic period where gasoline prices have moderately declined from previous historically high levels. We see this as being a very positive indicator for our business." A complete list of 2008 ballot initiatives is available via www.cfte.org. The CFTE is a non-partisan research group based in Washington, D.C. EARNINGS GUIDANCE UPDATE "In light of our upcoming presentations at Paulson Investment's 31st Annual Westergaard Conference on Nov. 12, 2008, at the Waldorf=Astoria in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , as well as our third quarter 2008 earnings results which we expect to announce on Nov. 14, we are updating our fiscal year 2008 guidance. While we will report a meaningful profit for third quarter 2008, we continue to remain cautious about the timing of orders in fourth quarter 2008. Therefore, we are adjusting our fiscal year 2008 guidance to be at the lower end of our previously announced expected earnings range of 14 cents to 17 cents. Previously, we expected to be at the upper end of that range," Mr. Turney said. MARK YOUR CALENDAR * On or about Nov. 14, 2008, the Company plans to file with the Securities and Exchange Commission a Form 10-Q Form 10-Q See 10-Q. for the period ended Sept. 30, 2008. * The Company will host an investors' conference call to review third quarter 2008 results on Nov. 17, 2008, at 11 a.m. (Eastern). To participate in the live call, dial one of the following telephone numbers at least five minutes prior to the start time: Domestic, (800) 853-3895; or International, (334) 323-7224. The conference passcode is "DRI." Telephone replay will be available through March 31, 2009, via the following telephone numbers: Domestic, (877) 656-8905; or International, (334) 323-9859. The replay pin number is 57815180. To participate via webcast, go to http://www.viavid.net/detailpage.aspx?sid=0000591B. The webcast will be archived until March 31, 2009. CEO INTERVIEW AVAILABLE Mr. Turney was interviewed in connection with the Company's scheduled participation in Paulson Investment's 31st Annual Westergaard Conference on Nov. 12, 2008. The interview is available via the Company's Web site, www.digrec.com, and via http://www.vcall.com/IC/ClientPage.asp?ID=137387&CID Cid or Cid Campeador (sĭd, Span. thēth kämpāäthōr`) [Span.,=lord conqueror], d. 1099, Spanish soldier and national hero, whose real name was Rodrigo (or Ruy) Díaz de Vivar. . The Company's Westergaard Conference presentations will take place in the Waldorf=Astoria's Library Room from 10:10 a.m. to 10:35 a.m., 11:55 a.m. to 12:20 p.m., 3:15 p.m. to 3:40 p.m., and 4:25 p.m. to 4:50 p.m. The presentations will not be webcast. For more information, visit www.westergaardconference.com. ABOUT THE COMPANY DRI Corporation is a digital communications technology leader in the domestic and international public transportation and transit security markets. Our products include: TwinVision[R] and Mobitec[R] electronic destination sign systems, Talking Bus[R] voice announcement systems, Digital Recorders[R] Internet-based passenger information and automatic vehicle location/monitoring systems, and VacTell[TM] video actionable intelligence Having the necessary information immediately available in order to deal with the situation at hand. With regard to call centers, it refers to agents having customer history and related product data available on screen before the call is taken. 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 A transit bus (also known as a commuter bus) in the United States is usually operated by an urban-suburban bus line, a governmental public transit agency, or a contractor. A transit bus is normally used on public transit routes. and rail vehicles Rail vehicles are vehicles capable of rolling on rail tracks. This includes:
n. The number of passengers who ride a public transport system. 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 Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. In particular, statements concerning the impact of voter authorization of transit-related ballot measures to the Company's business; the Company's guidance for the third quarter and remaining portion of fiscal year 2008, the anticipated filing date of the Company's Form 10-Q for third quarter 2008, the pending conference call to discuss third quarter 2008 with investors, Mr. Turney's interview, 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," "forecast," etc., is a forward-looking statement. These forward-looking statements are subject to risks and uncertainties, including risks and uncertainties that the impact of voter authorization of transit-related ballot measures may not prove beneficial to the Company's business, that the Company's guidance for the third quarter and remaining portion fiscal year 2008 will not prove correct, that the anticipated filing date of the Company's Form 10-Q for third quarter 2008 may occur on a different date, that the Company's third quarter 2008 investors' conference call may be rescheduled, that Mr. Turney's interview may not be available, as well as other risks and uncertainties set forth in our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed March 31, 2008, and as updated in our Quarterly Report on Form 10-Q filed Aug. 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. |
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