DRI Corporation Reports Record Net Sales in Preliminary Fourth Quarter and Fiscal Year 2007 Results
Share:
DALLAS, March 4, 2008 - DRI Corporation (DRI) (NASDAQ: TBUS), a digital communications
technology leader in the domestic and international surface transportation and transit security markets, announced today that, according to preliminary results, it expects to report an increase in fourth quarter and fiscal year 2007 net sales of approximately 30.9 percent and 17.8 percent, respectively, as compared to sales for the same periods in 2006.
David L. Turney, the Company's Chairman, President, and Chief Executive Officer, said, "Our fourth quarter and fiscal year 2007 year-over-year sales growth reflects our ability to capitalize on increasing demand in the intelligent transportation systems and security markets with a suite of highly differentiated products. In addition to anticipating a profitable outcome for fiscal year 2007, we expect to post further growth and profitability in fiscal year 2008 as we continue to expand our served markets, add products and features, and further increase our international presence."
On or about March 14, 2008, the Company anticipates filing with the Securities and Exchange Commission (SEC) its Annual Report on Form 10-K for the period ended Dec. 31, 2007. That day at Noon (Eastern), management also plans to conduct a conference call to discuss the Company's fourth quarter and fiscal year 2007 financial results, as well as the outlook for first quarter and fiscal year 2008.
INVESTOR EVENTS
o Investor Presentations, March 4, 2008, New York - Management plans to discuss the Company's products, markets, technologies, and long-term growth initiatives with investment professionals.
o Wall Street Luncheon, March 13, 2008, Dallas, Texas - Friedland Investment Events LLC is hosting this event. For more information, visit www.friedlandevents.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® and Mobitec® electronic destination sign systems, Talking Bus® voice announcement systems, Digital Recorders® 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.
DRI Corporation
5949 Sherry Lane, Suite 1050
Dallas, Texas 75225
Phone: (214) 378-8992
Fax: (214) 378-8437
www.digrec.com
DRI Corporation Contact:
Veronica B. Marks
Manager, Corporate Communications
Phone: (214) 378-4776
Fax: (214) 378-8437
E-Mail: veronicam@digrec.com
Sharon Merrill Associates, Inc. Contact:
David C. Calusdian
Executive Vice President and Partner
Phone: (617) 542-5300
Fax: (617) 423-7272
E-Mail: dcalusdian@investorrelations.com
