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SMALL BUSINESS
DRI Corporation Announces Order From Major Transit Operator in Belgium
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Order Valued at Approximately $1.4 Million USD
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Deliveries Expected to Commence and Conclude in FY2010
Business Wire
DRI Corporation (DRI) (NASDAQ: TBUS), a digital communications
technology leader in the domestic and international surface
transportation and transit security markets, announced today that the
Company’s Mobitec AB (Mobitec) subsidiary in Sweden has received an
order for Mobitec® electronic destination sign systems and other
equipment for DeLijn, a major transit operator in Belgium. The order is
valued at approximately $1.4 million USD.
David L. Turney, the Company’s Chairman, President and Chief Executive
Officer, said: “With multiple depots across Belgium, DeLijn operates the
largest network of trams and buses in five Flemish provinces. The
organization, which provides public transportation services to more than
483 million passengers each year, already has Mobitec® products
installed on a large percentage of its vehicle fleet. We feel honored to
have this opportunity to continue serving DeLijn, a highly valued and
respected customer for many years. Deliveries are expected to begin in
first quarter 2010 and to conclude in fiscal year 2010.”
Products ordered include Mobitec® electronic information display
systems, Mobitec® voice announcement systems, and Mobitec® global
positioning satellite control units. The products will be installed on
new regular and hybrid city buses in the DeLijn transit fleet.
For more information about DeLijn, visit
www.delijn.be.
ABOUT 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 is a digital communications technology leader in the domestic and
international public 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 timing of completed orders, Mobitec’s
relationship with DeLijn, 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 anticipated time for orders to be
completed, Mobitec’s relationship with DeLijn, 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 2010
2010-02-09 09:05:00
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