Digital Ally Rings in
New Year With NASDAQ Listing
|Digital Ally, Inc. Press Release||FlashlightNews.org - 1/02/2008|
Digital Video Flashlight maker marks 2007 accomplishments and NASDAQ listing
Digital VF2 from Digital Ally
OVERLAND PARK, Ks. - The common stock of Digital Ally, Inc. (Nasdaq: DGLY), which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial security applications, begins trading on the NASDAQ Capital Market today, January 2, 2008.
"We consider the listing of our stock on NASDAQ a noteworthy way to celebrate the Company's significant accomplishments in 2007 and to anticipate new achievements in 2008," observed Stanton E. Ross, Chairman and Chief Executive Officer of the Company. "While many of last year's accomplishments have been previously disclosed in news releases, a review of key 2007 milestones seems appropriate as we begin the New Year."
Highlights of Year Ended December 31, 2007:
- Sales exceeded $19 million, representing an increase of over 360% when compared with 2006 sales of $4.1 million.
- Record sales were posted in each sequential quarter during the year, with the three months ended December 31, 2007 representing the seventh consecutive quarter of record sales since the Company began shipping its products to law enforcement agencies in March 2006.
- The Company received the largest contract in its history in November 2007 when an international customer placed an order valued at $5.1 million for units of its DVM-500 In-Car Digital Video System Integrated into a Rearview Mirror.
- New features that enhance the performance of the Company's in-car video systems, including wireless downloading, live streaming video, and a new secure centralized video management system, were introduced at the 114th Annual International Association of Chiefs of Police Conference in New Orleans in October 2007.
- The Company received statewide contracts from five states during 2007. These contracts generally authorize all city, county and state law enforcement agencies in the respective states to purchase Digital Ally products at contractually negotiated prices.
- The Company strengthened its management team and Board of Directors in anticipation of the demands that further growth opportunities will place upon corporate resources in 2008.
- Trading in the Company's common stock moved from the Pink Sheets to the OTC Bulletin Board in July 2007, and the Company was approved for listing on The NASDAQ Capital Market in December 2007. The price of DGLY common shares rose 312% during the year, from $1.77 at the close of trading in 2006 to a closing price of $7.30 on December 31, 2007.
"We enter the New Year with significant opportunities and challenges ahead of us," continued Ross. "We expect continued strong growth in demand for our existing and planned new products from the law enforcement community during 2008. In addition, we have identified new opportunities for our digital surveillance technology in the school bus, mass transit, and military markets, some of which will be addressed with new product introductions as the year progresses. Our greatest challenge, we believe, will revolve around our ability to expand manufacturing and distribution capabilities efficiently in order to meet the growing demand for our current products. We have already devoted considerable resources towards meeting this challenge, and we expect 2008 to be another year of record sales and earnings for Digital Ally."
About Digital Ally, Inc.
Digital Ally, Inc. develops, manufactures and markets advanced technology products for law enforcement, homeland security and commercial security applications. The Company's primary focus is the field of Digital Video Imaging and Storage. For additional information, visit www.digitalallyinc.com.