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SMALL BUSINESS
DRI Corporation Announces Electronic Information Display Systems Order for Rail Project in Brazil
Business Wire
DRI
Corporation (DRI) (NASDAQ: TBUS), a digital communications
technology leader in the global surface transportation and transit
security markets, announced today that its Sweden-based Mobitec AB
subsidiary, through its Mobitec Brazil Ltda (Mobitec Brazil) business
unit in Brazil, has received an order of strategic significance for
electronic information display systems (EIDS) from Bombardier for a rail
project in Sao Paulo, Brazil.
David L. Turney, the Company’s Chairman, President and Chief Executive
Officer, said: “Bombardier has ordered Mobitec Brazil’s EIDS products
for approximately 50 light rail cars in Sao Paulo. This order is
strategically relevant because it marks our official entrance into the
Brazilian rail market. Delivery of the order has commenced and is
expected to conclude in first quarter 2010. We foresee good demand for
rail cars in Brazil, particularly as the region invests in transit
infrastructure in preparation for the upcoming FIFA World Cup™ in 2014
and the Games of the XXXI Olympiad in 2016.”
For more information about Bombardier, visit
www.bombardier.com.
ABOUT THE MOBITEC GROUP
Mobitec, a global supplier of electronic information display systems, is
highly respected for its products, technology, service, and quality.
Mobitec is based in Herrljunga, Sweden. It presently operates business
units in Australia, Brazil, Germany and Singapore, as well as a joint
venture in India. For more information, visit
www.mobitec.eu.
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 of the commencement and
completion of orders, the future demand for rail cars in Brazil, the
strategic growth opportunities for the Company in the Brazilian transit
market, particularly for our products in the Brazilian railway market;
the future profit stream of Mobitec Brazil Ltda; as well as any
statement, express or implied, concerning future events or expectations
or which use words such as “expect,” “fully expect,” “expected,”
“appears,” “believe,” “plan,” “anticipate,” “would,” “goal,”
“potential,” “potentially,” “range,” “pursuit,” “run rate,” “stronger,”
“preliminarily,” “forecast,” “opinion,” etc., is a forward-looking
statement. These forward-looking statements are subject to risks and
uncertainties, including risks and uncertainties associated with the
timing of the commencement and completion of orders; the risk that
future anticipated growth in the Brazilian railway transit market may
prove inaccurate; the risk that our estimate of the future demand for
our products that would support or be complementary to the Brazilian
railway transit market may prove inaccurate; the risk that Mobitec
Brazil Ltda may not be profitable in future periods; as well as other
risks and uncertainties set forth in our Annual Report on Form 10-K
filed March 31, 2009, and as updated in our Quarterly Report on Form
10-Q filed Nov. 16, 2009, 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.
Copyright Business Wire 2009
2009-11-24 09:05:00
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