DRI, a digital communications technology leader in the domestic and international public transportation and transit security markets, announced April 4, 2008 that the Company’s subsidiary, Mobitec Group, a premier supplier of electronic destination system systems in the Nordic markets, received a $480,000 order confirmation for Mobitec® electronic destination sign systems. The product delivery is scheduled to commence in second quarter 2008 and should conclude by fourth quarter 2008.
The Company’s Chairman, President and Chief Executive Officer, David L. Turney said, “This marks our first significant order from this highly credible German systems integrator, which is involved in several other international projects that also include Mobitec® electronic destination sign systems. The order — which is especially noteworthy because it involves interior signs rather than the exterior signs that dominate the Mobitec Group’s revenue — indicates that we are increasing the range of Mobitec® products installed on customer vehicles and thus increasing the value of products installed on each vehicle.”
He continued, “Our decision to dedicate more resources on international markets during a period of U.S. transit market weakness over the past several years has resulted in a significant opportunity to grow our international business. We are focused on capitalizing on those opportunities and, given the present U.S. economic environment, we are fortunate to derive more than 50 percent of our revenue from abroad.”
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