DRI Corporation Announces U.S. Order for Digital Recorders Engineered Systems
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* Value Exceeds $1.5 Million * Directly Related to U.S. Stimulus Funding Projects DALLAS--(Business Wire)-- DRI Corporation (NASDAQ: TBUS), a digital communications technology leader in the global surface transportation and transit security markets, announced today that its Digital Recorders, Inc. subsidiary in Durham, N.C., has received an order valued at more than $1.5 million from a U.S. transit authority located in the Southeast. David L. Turney, the Company`s Chairman and Chief Executive Officer, said: "Shipment is expected to commence in second quarter 2010 and to conclude in fiscal year 2010. This order, which reflects our end-customer`s confidence in our Digital Recorders engineered systems, is significant to our fiscal year 2010 business plans and continued technology development. The order also is directly related to U.S. stimulus funding projects." Products ordered include: Talking Bus automatic voice announcement systems; Digital Recorders automatic vehicle location and tracking systems; OTvia real-time passenger information systems; and PASS passenger advisory sign systems. Providing transit system operators with timely information regarding vehicle operation, location and security, these products also help transit passengers quickly obtain travel information for a more user-friendly travel experience. ABOUT THE DIGITAL RECORDERS, INC. SUBSIDIARY Digital Recorders, Inc. designs, manufactures, sells, and services intelligent transportation solutions for the U.S. transit industry. Products include: Digital Recorders computer-aided dispatch/automatic vehicle location systems; Digital Recorders automatic vehicle monitoring systems; Talking Bus automatic voice announcement systems; Digital Recorders vandal-resistant, hands-free driver microphones; VacTell video actionable intelligence systems, and more. Digital Recorders, Inc., a DRI Corporation subsidiary established in 1983, is based in Durham, N.C. For more information, visit www.digitalrecorders.com. ABOUT THE COMPANY DRI Corporation is a digital communications technology leader in the global surface 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 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. FORWARD-LOOKING STATEMENTS This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements concerning the timing and amount of new orders or their expected delivery and installation dates, the potential benefit such orders may have on our ongoing operations, our belief that these recent orders reflect confidence in and market acceptance of our products, together with 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," "belief," "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 the risk that the assumptions behind the product order, delivery and installation are incorrect, that we have misperceived the market acceptance of our products, as well as other risks and uncertainties set forth in our Annual Report on Form 10-K filed April 15, 2010, 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. DRI Corporation Contact: Veronica B. Marks Vice President, Corporate Communications and Administration Phone: (214) 378-4776 Fax: (214) 378-8437 E-Mail: ir@digrec.com Copyright Business Wire 2010
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