DirectView Achieves Record
Sales and Gross Profit During 1st Half 2018, Reaffirms Positive
Outlook, and Continues Investments in Technology for Future
Growth
Virtual
Surveillance and ApexCCTV
Acquisition Completed and Fully Integrated, Driving
Growth as Business Transformation
Continues.
New York, NY -- August
20, 2018 -- InvestorsHub NewsWire -- DirectView Holdings, Inc.,
(OTC:DIRV)
("DirectView" or the "Company"), a company focused on ownership and
management of leading video and security technology companies,
announced today that the Company achieved record sales and gross profit during the
six months ended June 30, 2018.
DirectView's record
results reflect the completed integration of the Virtual Surveillance and ApexCCTV acquisitions
(which closed during the
2nd quarter of 2017). Record results are also attributed to
several sizable
new and existing contracts.
First Half 2018 Results
-
70% sales growth to a record $2.3
million
-
73% growth in product sales to a record
$1.9 million
-
57% growth in services sales to a
record $0.4 million
-
37% gross profit growth to a record
$1.0 million
-
64% growth in product gross profit to a
record $0.9 million
-
185% increase in
SG&A
Sales and gross profit
expanded significantly during the first half of 2018, reflecting strong DirevtView product and services demand. SG&A reflects
on-going investments in technology and additional customer-facing
headcount.
Roger Ralston,
DirectView's CEO stated:
"DirectView's first half
of 2018 performance generated the
highest sales and profits of any period in our
history. As we continue our
technology and acquisition
investments, we realize
significant adoption and scale will take time. The results speak for themselves and
we remain laser focused and bullish on our
strategy."
Recent Business Highlights Drive Future
Growth
New Orders
for School Security and Surveillance - Announced on
August 8, 2018, DirectView has received orders from a Texas college
and prestigious New York City private school or DirectView's
advanced surveillance cameras, both covert and overt, as well as
entry access control camera solutions.
New Company Wide Master
Agreement to Service Mission Foods Facilities, a $3.7B Leader in
the Global Food Production Space - Announced on
July 30, 2018, DirectView is expected to realize 7-digit revenue
under the Master Agreement to install comprehensive security
solutions of all security surveillance equipment, access control,
and related infrastructure, in addition to multiyear support and
service contracts.
New
Contract with $3.7B Leader in the Global Food Production
Space - Announced on
July 10, 2018, DirectView has secured a new contract worth
approximately $475,000 for the security management for several
large production plants with 24/7 operating
schedules.
Technology Investment
Update
DirectView recently
completed the first investment phase of its relaunched ApexCCTV.com e-commerce surveillance product website. Taking
several months to complete with an
investment of over $100,000, ApexCCTV.com is the
one-stop-shop for all things
surveillance and security, catering to everyone from the most
seasoned installers and resellers to the home
do-it-yourselfer. With
products and services that will meet
nearly any surveillance and
security need, ApexCCTV.com continues
to evolve to include thousands of
products while providing
information and training videos in the
surveillance space.
Mr.
Ralston added: "Investments of
this magnitude take time to
deploy, and once deployed, take time to assess their overall impact
and value. In addition to the planned technology investments we are investing heavily in people and process to
significantly transform our industry and customer experience. I
continue to believe 2018 will generate record sales and gross
profit results,
further establishing
our foundation for even greater
future growth."
About
DirectView Holdings, Inc.
DirectView
Holdings, Inc., ( DIRV
)
together with its subsidiaries, provides video surveillance
solutions and teleconferencing products and services to businesses
and organizations. The company operates in two divisions, Security
(Video Surveillance) and Video Conferencing. The Security division
offers technologies in surveillance systems providing onsite and
remote video and audio surveillance, digital video recording, and
services. It also sells and installs surveillance systems; and
sells maintenance agreements. The company sells its products and
services in the United States and internationally through direct
sales force, referrals, and its websites. The Video Conferencing
division offers teleconferencing products and services that enable
clients to conduct remote meetings by linking participants in
geographically dispersed locations. It is involved in the sale of
conferencing services based upon usage, the sale and installation
of video equipment, and the sale of maintenance agreements. This
division primarily provides conferencing products and services to
numerous organizations
ranging from law firms, banks, high tech companies and government
organizations. For more information visit our websites at
http://www.DirectView.com,
http://www.ApexCCTV.com,
http://www.VS-US.com
and
connect with us on Twitter, LinkedIn, Facebook, and
Google+.
Cautionary Statement Regarding Forward Looking
Statements
Forward Looking
Statements: This press release contains forward-looking statements
that involve a number of risks and uncertainties, including
statements regarding the outlook of the Company's business and
results of operations. By nature, these risks and uncertainties
could cause actual results to differ materially from those
indicated. Generally speaking, any statements using terms such as
"will," "expect," "anticipate," or "may," or which otherwise
predict or address future results or events, are likely to contain
forward-looking statements. It is important to note that actual
results may differ materially from what is indicated in any
forward-looking statement. Readers should consider any
forward-looking statements in light of factors that could cause
actual results to vary. These factors are described in our filings
with the SEC, and readers should refer to those filings, including
Risk Factors described in those filings, in connection with any
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contact:
DirectView
Holdings, Inc.
Roger
Ralston
1-212-858-9100
EXT. 111
IR@DirectView.com
http://www.DirectView.com