- Value Exceeds $1.5 Million
- Directly Related to U.S. Stimulus Funding Projects
DRI
Corporation (NASDAQ: TBUS), a digital communications technology
leader in the global surface transportation and transit security
markets, announced today that its Digital Recorders, Inc. subsidiary in
Durham, N.C., has received an order valued at more than $1.5 million
from a U.S. transit authority located in the Southeast.
David L. Turney, the Company's Chairman and Chief Executive Officer,
said: "Shipment is expected to commence in second quarter 2010 and to
conclude in fiscal year 2010. This order, which reflects our
end-customer's confidence in our Digital Recorders® engineered systems,
is significant to our fiscal year 2010 business plans and continued
technology development. The order also is directly related to U.S.
stimulus funding projects."
Products ordered include: Talking Bus® automatic voice announcement
systems; Digital Recorders® automatic vehicle location and tracking
systems; OTvia™ real-time passenger information systems; and PASS™
passenger advisory sign systems. Providing transit system operators with
timely information regarding vehicle operation, location and security,
these products also help transit passengers quickly obtain travel
information for a more user-friendly travel experience.
ABOUT THE DIGITAL RECORDERS, INC. SUBSIDIARY
Digital Recorders, Inc. designs, manufactures, sells, and services
intelligent transportation solutions for the U.S. transit industry.
Products include: Digital Recorders® computer-aided dispatch/automatic
vehicle location systems; Digital Recorders® automatic vehicle
monitoring systems; Talking Bus® automatic voice announcement systems;
Digital Recorders® vandal-resistant, hands-free driver microphones;
VacTell® video actionable intelligence systems, and more. Digital
Recorders, Inc., a DRI Corporation subsidiary established in 1983, is
based in Durham, N.C. For more information, visit www.digitalrecorders.com.
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 and amount of new orders or
their expected delivery and installation dates, the potential benefit
such orders may have on our ongoing operations, our belief that these
recent orders reflect confidence in and market acceptance of our
products, together with any statement, express or implied, concerning
future events or expectations, is a forward-looking statement. Use of
words such as "expect," "fully expect," "expected," "appears,"
"believe," "belief," "plan," "anticipate," "would," "goal," "potential,"
"potentially," "range," "pursuit," "run rate," "stronger,"
"preliminarily," etc., is intended to identify forward-looking
statements that are subject to risks and uncertainties, including the
risk that the assumptions behind the product order, delivery and
installation are incorrect, that we have misperceived the market
acceptance of our products, as well as other risks and uncertainties set
forth in our Annual Report on Form 10-K filed April 15, 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 |