zTrip Places Additional Order for Digital Ally’s DVM-250 and FleetVu Manager
November 14 2019 - 9:00AM
Digital Ally, Inc. (NASDAQ: DGLY), which develops, manufactures and
markets advanced video recording products for law enforcement,
emergency management, fleet safety and security, today announced a
contract extension and upgrade with zTrip, Inc. (“zTrip”) for the
Company’s DVM-250 in-car video event recorder and video management
platform, FleetVu Manager. zTrip will now implement nearly 300
DVM-250 units integrated with FleetVu Manager in Jacksonville, FL
and will upgrade an additional 125 units in West Palm Beach, FL.
zTrip, North America’s largest taxicab company with a fleet of more
than 5,000 vehicles in 19 U.S. cities, continues to set the
standard for driver and passenger safety, technology innovations
and customer service. As a long-standing customer of Digital Ally,
zTrip has seen the long and short-term return on its investment
since the implementation of the Company’s DVM-250 video event
recorder and FleetVu Manager platform.
This order will include hardware installation of
the Company’s DVM-250 event recorder and software incorporation of
the cloud-based video management platform, FleetVu Manager. The
DVM-250 and FleetVu Manager work seamlessly together to record,
upload, and store any events captured during a driver’s shift. The
FleetVu Manager platform allows companies to customize real time
alerts such as acceleration, excessive braking, and G-Force to
track and modify driver behavior. With a unique feature called
pre-event recording, fleet managers can review the video footage of
events that took place leading up to the incident. This footage may
explain bad habits that would have otherwise gone un-noticed before
an event had taken place such as texting, violations of seatbelt
policies and distracted driving. The easy to use platform also
gives fleet managers the ability to generate driver reports, track
assets in near real-time and monitor the location of every vehicle
in their fleet. When coupled together, this complete video solution
will provide fleet managers with unmatched driver and asset
management while increasing the overall safety of drivers and
passengers.
Bill George, CEO of zTrip stated, “As the leader
in the taxicab industry, our goal is to provide the safest
experience in personal transportation. Digital Ally has been a
crucial, long-term partner in reaching this goal. In a recent
expansion of our partnership to our Colorado Springs fleet, we
spent 60 days focusing on driver behavior and using it as a
coaching period. With a few key changes to our driver safety
strategy, zTrip has been able to realize an 80% reduction in claims
in only eight months thanks to Digital Ally’s innovative
technology.”
“Our mission is to provide our customers with
the ultimate liability protection and event recording capabilities,
paired with an easy to use to platform,” said Stan Ross, CEO of
Digital Ally. “We are thrilled to continue to be the choice of
video recording products for zTrip, the largest taxicab company in
North America. We applaud zTrip’s commitment to safety and look
forward to a long, successful partnership in the future,” concluded
Mr. Ross.
Initiation of Revenue Guidance for
Fiscal Year 2020
The Company expects its revenues will exceed
$13.5 million for its fiscal year 2020. It bases this guidance on
an anticipated increase in revenues during fiscal 2020 from law
enforcement customers due to the recently launched EVO-HD in-car
video platform and from commercial customers as it develops new
market channels. The Company also anticipates the continuation of
its increased recurring service revenues.
About Digital Ally
Digital Ally®, headquartered in Lenexa, KS,
specializes in the design and manufacturing of the highest quality
video recording equipment and video analytic software. Digital Ally
pushes the boundaries of technology in industries such as law
enforcement, emergency management, fleet safety and security.
Digital Ally’s complete product solutions include in-car and body
cameras, cloud and local management software, and automatic
recording technology. Digital Ally products are sold by domestic
direct sales representatives and international distributors
worldwide.
For additional news and information please
visit: www.digitalallyinc.com
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Contact InformationStanton Ross, CEOTom
Heckman, CFODigital Ally, Inc913-814-7774
info@digitalallyinc.com
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Act of 1934. These
forward-looking statements are based largely on the expectations or
forecasts of future events, can be affected by inaccurate
assumptions, and are subject to various business risks and known
and unknown uncertainties, a number of which are beyond the control
of management. This is especially true of the 2020 revenue guidance
and variations from such guidance may occur and such variations may
be material. Therefore, actual results could differ materially from
the forward-looking statements contained in this press release. A
wide variety of factors that may cause actual results to differ
from the forward-looking statements include, but are not limited
to, the following: the extent and timing of the continued expansion
of the zTrip relationship with the Company; the accuracy of the
Company’s underlying assumptions for its 2020 revenue forecast; the
Company’s ability to achieve the increase in revenue for 2020 as
anticipated; competition from larger, more established companies
with far greater economic and human resources; its ability to
attract and retain customers and quality employees; the effect of
changing economic conditions; and changes in government
regulations, tax rates and similar matters. These cautionary
statements should not be construed as exhaustive or as any
admission as to the adequacy of the Company’s disclosures. The
Company cannot predict or determine after the fact what factors
would cause actual results to differ materially from those
indicated by the forward-looking statements or other statements.
The reader should consider statements that include the words
“believes”, “expects”, “anticipates”, “intends”, “estimates”,
“plans”, “projects”, “should”, or other expressions that are
predictions of or indicate future events or trends, to be uncertain
and forward-looking. The Company does not undertake to publicly
update or revise forward-looking statements, whether because of new
information, future events or otherwise. Additional information
respecting factors that could materially affect the Company and its
operations are contained in its annual report on Form 10-K for the
year ended December 31, 2018 and in its quarterly report on Form
10-Q for the three and nine months ended September 30, 2019.
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