- Company Encourages the Company's Stakeholders to Avoid the Gas Pump
in Support of Public Transportation
- Management Reaffirms Guidance for Fiscal Year 2010
DRI
Corporation (NASDAQ: TBUS), a digital communications technology
leader in the global surface transportation and transit security
markets, noted today that it strongly supports the American Public
Transportation Association (APTA) and participating U.S. public
transportation systems in celebrating the fifth annual National Dump the
Pump Day on Thursday, June 17, 2010.
David L. Turney, the Company's Chairman of the Board and Chief Executive
Officer, said: 'In today's tough economy, relying upon public
transportation is a smart way to save money and help the environment.
APTA's National Dump the Pump Day encourages people to ride public
transportation instead of driving their vehicles to reach their
destinations. Public transit riders save money by beating high gas
prices, help reduce our dependence on foreign oil and offshore drilling,
and help improve air quality and the environment by reducing the number
of personal vehicles on the road and the toxic emissions caused by those
vehicles. APTA believes that Americans living in areas served by public
transportation save 646 million hours in travel time and 398 million
gallons of fuel annually in congestion reduction alone. The latest APTA
Transit Savings Report shows that a two-car household downsizing to one
car can save an average of more than $9,000 a year. According to APTA,
the average household spends 18 cents of every dollar on transportation,
and 94 percent goes to buying, maintaining, and operating cars. National
Dump the Pump Day ties in well with the Company's noted transit market
drivers, including the demand for better mobility and less gridlock, the
drive for lower energy consumption, and the need to reduce greenhouse
gases.'
National Dump the Pump Day was started by APTA in June 2006 when gas
prices were $3 per gallon. For more information, visit www.apta.com.
Fiscal Year 2010 Guidance Reaffirmed
Mr. Turney said: 'Recently, there has been some confusion about our
fiscal year 2010 guidance, possibly stemming from the work of certain
research analysts. I wish to restate our guidance as issued on May 14,
2010. We expect second quarter 2010 revenues to exceed those posted for
the same quarter of last year. We also expect our margins to improve
over margins in first quarter 2010. Although we project a profitable
second quarter 2010, our business will continue to be influenced by the
scope of lower margin electronic destination sign systems orders in
selected international market sectors. We continue to pursue expanded
margins through cost reduction efforts and economies of scale, which the
higher volume permits. We also continue to see fiscal year 2010 revenues
coming in around $100 million (as based on first quarter 2010 exchange
rates), and our earnings outlook remains in the range of 22 cents to 26
cents.'
MARK YOUR CALENDAR -
On or about Aug. 11, 2010, the Company plans to file with the U.S.
Securities and Exchange Commission a Form 10-Q for the quarter ended
June 30, 2010.
-
On or about Aug. 12, 2010, management plans to review second quarter
2010 results during an investors' conference call.
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, any statement made regarding APTA's estimates of
cost-savings from riding public transit and ridership numbers, how
riding public transit might potentially benefit the Company, the
Company's projected earnings guidance, 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,' 'may,' etc., is a forward-looking statement. These
forward-looking statements are subject to risks and uncertainties,
including risks and uncertainties that APTA's estimates of cost-savings
from riding public transit and ridership numbers may be inaccurate, that
the Company may receive little benefit from increased public transit
ridership, that the Company's projected earnings guidance may be
inaccurate, as well as other risks and uncertainties set forth in our
Annual Report on Form 10-K filed April 15, 2010, and quarterly report on
Form 10-Q filed May 14, 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 |