DRI
Corporation (DRI) (NASDAQ: TBUS), a digital communications
technology leader in the global surface transportation and transit
security markets, announced today that its Mobitec AB (Mobitec)
subsidiary in Sweden has strengthened its strategic relationship with
VDL Bus & Coach (VDL), a leading bus vehicle manufacturer based in the
Netherlands.
David L. Turney, the Company's Chairman, President and Chief Executive
Officer, said: "Mobitec has been honored with a good working
relationship with VDL for a long time. Now that relationship is taking
on a new and heightened meaning as VDL has chosen Mobitec as its
preferred strategic supplier of electronic information display systems.
Among many other orders in 2009, VDL has placed orders for Mobitec®
products on behalf of a transit operator in Jamaica, bringing the total
number of bus sets specified in that niche market to 320 in the last 12
months. Deliveries on the latest orders commenced in fourth quarter 2009
and are expected to conclude in first quarter 2010. We believe Mobitec's
enhanced relationship with VDL underscores DRI's unparalleled
international presence, strong market position, and partnering potential
with original equipment manufactures worldwide."
For more information about VDL, visit www.vdlbuscoach.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 timing of completed orders, Mobitec's
relationship with VDL Bus & Coach, the Company's strength in
international markets, 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 VDL Bus & Coach, the Company's
strength in international markets, 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.
DRI Corporation
Veronica B. Marks
Manager, Corporate
Communications
Phone: (214) 378-4776
Fax: (214) 378-8437
E-Mail:
ir@digrec.com |
