DRI Corporation Receives Order for Mobitec(R) Products Valued at More Than $480,000 USD.Product Installation Scheduled for Several Norwegian Bus Fleets 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, announced today that its Mobitec Group subsidiary in Sweden has received confirmation of an order for Mobitec[R] electronic destination sign systems valued at more than $480,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. . Product delivery is scheduled to commence in second quarter 2008 and should conclude by fourth quarter 2008. A leading integrated systems supplier based in Germany ordered Mobitec[R] interior signs that display next stop and route information on behalf of several fleet operators in the Bergen region Bergen Region is a statistical metropolitan region in the county of Hordaland in southwestern Norway. It is centered around the city of Bergen. Municipality Population Area¹ Density² 1/ km² 2/ Population per km² See also
David L. Turney, the Company's Chairman, President and Chief Executive Officer, said, "This marks our first significant order from this highly credible German systems integrator, which is involved in several other international projects that also include Mobitec[R] electronic destination sign systems. The order -- which is especially noteworthy because it involves interior signs rather than the exterior signs that dominate the Mobitec Group's revenue -- indicates that we are increasing the range of Mobitec[R] products installed on customer vehicles and thus increasing the value of products installed on each vehicle. Our decision to dedicate more resources on international markets during a period of U.S. transit market weakness over the past several years has resulted in a significant opportunity to grow our international business. We are focused on capitalizing on those opportunities and, given the present U.S. economic environment, we are fortunate to derive more than 50 percent of our revenue from abroad." ABOUT MOBITEC GROUP A premier supplier of electronic destination sign systems in the Nordic markets, the Company's Mobitec Group is highly respected for its products, technology, service, and quality. Mobitec Group is based in Herrljunga, Sweden. It also operates business units in Australia and Germany, as well as joint ventures in Brazil and India. For more information, visit http://www.mobitec.se/. 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 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 timing of the deliveries of orders, our belief that we are increasing the range of our Mobitec[R] products, and our belief that significant opportunities exist to grow in the international markets, as well as any statement, express or implied, concerning future events or expectations, is a forward-looking statement. Use of words such as "expect," "fully expect," "expected," "appears," "believe," "plan," "anticipate," "would," "goal," "potential," "potentially," "range," "pursuit," "run rate," "stronger," "preliminarily," etc., is intended to identify forward-looking statements that are subject to risks and uncertainties, including risks and uncertainties regarding the timing of the deliveries of orders, or that our beliefs as to the importance of this order and our international opportunities may not prove correct over time, 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, 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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