DRI Corporation Notes U.S. House Passes FY 2008 Transportation Appropriations Bill with 8.4 Percent Increase over FY 2007 Level.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 American Public Transportation Association The American Public Transportation Association is a Washington, DC based non-profit organization that serves as an advocate for the advancement of public transportation programs and initiatives in the United States since the organization's founding in 1882. (APTA APTA American Physical Therapy Association. ), the U.S. House of Representatives recently approved the fiscal year 2008 Transportation, Housing and Urban Development, and Related Agencies Appropriations bill in a 268-153 vote. "APTA said the bill provides $9.731 billion for federal transit programs in fiscal year 2008, the full amount authorized in the Safe, Accountable, Flexible, and Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU SAFETEA-LU Safe, Accountable, Flexible and Efficient Transportation Equity Act: A Legacy for Users ). If enacted, the amount would be an increase of $756.1 million, or 8.4 percent, over the fiscal year 2007 enacted level. This proposed increase indicates that Congress understands the long-term need to significantly increase federal support to improve the mobility of millions of Americans. Such funding increases tend to drive transit market spending and create additional demand for DRI's transit communications equipment," David L. Turney, the Company's Chairman, President, and Chief Executive Officer, said. According to APTA, the Senate's consideration of the fiscal year 2008 appropriations bill is progressing at a slower pace, but it also contains increases only slightly less than approved by the House. The Senate Appropriations Committee In the United States government, the Appropriations Committee can refer to either:
APTA said it is likely that the measures may become part of a larger omnibus spending package at the end of the current session. Congress will reconvene reconvene Verb to gather together again after an interval: we reconvene tomorrow Verb 1. reconvene - meet again; "The bill will be considered when the Legislature reconvenes next Fall" after the Labor Day Labor Day, holiday celebrated in the United States and Canada on the first Monday in September to honor the laborer. It was inaugurated by the Knights of Labor in 1882 and made a national holiday by the U.S. Congress in 1894. holiday on Sept. 4, 2007. ABOUT APTA APTA is a nonprofit international association of 1,600 member organizations including public transportation systems; planning, design, construction and finance firms; product and service providers; academic institutions; and state associations and departments of transportation. APTA members serve the public interest by providing safe, efficient and economical public transportation services and products. APTA members serve more than 90 percent of persons using public transportation in the U.S. and Canada. 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[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 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 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, including without limitation, statements about the likelihood of the passage of any proposed federal legislation, the potential benefits to the Company if such legislation is enacted into law, statements relating to what the proposed legislation may reveal about Congressional intentions or future trends in the transit market, statements about how such trends may increase spending in the transit market and potentially increase market demand for the Company's products and services, as well as any statements which use words such as "expect," "fully expect," "expected," "appears," "believe," "plan," "anticipate," "would," "goal," "potential," "potentially," "range," "pursuit," "run rate," "stronger," or "preliminarily." Such forward-looking statements are subject to risks and uncertainties, including without limitation, risks that the proposed legislation is not enacted into law or enacted in such a way that may not achieve the results the Company currently anticipates, risk that the enaction of such legislation does not result in the anticipated benefits to the mass transit industry or the Company, risks that the proposed legislation does not accurately predict Congressional intent or indicate a future trend in the mass transit industry, 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 28, 2007, particularly those identified in Risk Factors Affecting Our Business, as those risk factors are amended and supplemented by our quarterly reports on Form 10-Q Form 10-Q See 10-Q. . 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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