DirectView Reports
Record Sales For The 9
Months Ended September
30th,
2018, Provides
Update on New COO/CFO, And
Executes Focused Initiatives to
Drive Future Growth.
DirectView's New Initiatives Continue
To Drive Growth, Alongside
Virtual Surveillance and Apex
CCTV
NEW YORK, NY --
November
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 for the nine months ended
September
30,
2018.
DirectView's record results
reflect a
number of large new and existing customer projects where
DirectView and its subsidiaries
were awarded
contracts.
2018 Nine Months
Results
- 22% sales growth to a record
$3.3 million
- 20% growth in product sales to
a record $2.7 million
- 32% growth in services sales to
a record $0.6 million
- 7% gross
profit growth to a record $1.3 million
- 30% growth in product gross
profit to a record $1.4 million
- 400 basis
point gross profit margin increase
to 52.3%
- 108% increase in
SG&A
Sales and gross profit
trends continued to
expand
during the
first nine
months of
2018 and reflect continued strong product and services
demand. SG&A continues to
reflect on-going
investments in technology and additional customer-facing
headcount.
Roger Ralston,
DirectView's CEO stated:
"DirectView's
performance
during the first
nine months
of 2018
turned
out to be
impressive, generating
the highest
sales and profits of any period
in
the
Company's history.
As
we continue to be
awarded significant
new and
existing contracts,
we continue
to
invest in our
subsidiaries
to
support the continuation
of significant
growth,
customer
experience, and
satisfaction thereby ensuring
our customers
receive industry-leading products and service throughout
the project life cycle.
Recent
Business Highlights Drive Future
Growth
- DirectView's
Virtual Surveillance Completes $600,000 Surveillance Project for
Mission Foods and Begins Designing New Locations
Announced on
November 8, 2018, DirectView's wholly-owned subsidiary, Virtual
Surveillance, completed a project valued at approximately $600,000
and has moved on to designing additional locations for Mission
Foods the manufacturer of tortilla-related products and subsidiary
of the multinational, $3.7B publicly-traded GRUMA Corporation (MX:
GRUMB) (BMV: GRUMAB)
- DirectView's
Virtual Surveillance Signs Master Agreement with
Texas'
Premier General Contractor, Rogers-O'Brian
Announced on
October 29, 2018, DirectView's wholly-owned subsidiary, Virtual
Surveillance, signed a master agreement to work with world-renowned
Texas builder, Rogers-O'Brian who is headquartered in Dallas and
has offices in Austin and Houston
- DirectView
Offers Custom-Tailored Security, Surveillance, Safety and Access
Control Solutions for The Cannabis and CBD Industry
Announced on
October 9, 2018, DirectView has focused on a new initiative to
provide and install custom-tailored security, surveillance and
safety equipment to meet the regulatory and compliance requirements
of the booming cannabis industry
- DirectView's
Virtual Surveillance Wins Surveillance Equipment, Installation
& Support Contract for Texas Municipality Announced on
October 2, 2018, DirectView's wholly-owned subsidiary, Virtual
Surveillance, has been contracted to provide and install
surveillance equipment for a Texas municipality in the Fort Worth,
Texas region
- DirectView
Wins $150,000 Contract with Prominent New York City Hotel
Announced on
August 23, 2018, DirectView signed a $150,000 contract for a
security and surveillance project for a world-renowned high-rise
hotel in Midtown, NYC, opening the door to further contracts in the
hospitality space in New York and across the
country
New
COO/CFO Update
In
September
2018, DirectView
named
Chris Cutchens
as
Chief Operating and Financial Officer, expanding its C-Suite
position to drive organic growth, bolster M&A activity, and
fuel business transformation.
Chris
Cutchens, DirectView's COO/CFO stated:
"DirectView is
well positioned to transform the security and surveillance
industry, all
while
experiencing significant organic and inorganic
growth.
The
current market
is significantly fragmented and ripe for the adaptation
of DirectView's
product and
service offerings,
as
well as its roll-up
acquisition
strategy.
The
remainder
of
2018 will be focused on completing the
establishment of a solid foundation to position the Company for
scale beginning in 2019 and thereafter."
Mr. Ralston
added: "Since joining
the DirectView family in
September
2018, Chris has hit the ground running, tackling a
number of
critical initiatives while staying laser-focused on
DirectView's long-term strategy of
maximizing the return on our investment in people,
process, and technology to significantly transform our industry and
customer experience."
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