Digital Recorders Expects To Report 39 Percent Quarterly Sales Increase

Apr 18, 2001, 01:00 ET from Digital Recorders, Inc.

    DALLAS, April 18 /PRNewswire/ -- Digital Recorders, Inc. (DRI)
 (Nasdaq:   TBUS) today announced it expects to report first quarter sales
 climbed 38 percent to about $7.0 million from $5.0 million a year earlier.
 The company plans to formally release results for the quarter ended March 31,
 2001 on May 15, 2001.
     "Revenue growth was strong overall and particularly evident in three of
 our four business units this quarter," said David L. Turney DRI's Chairman and
 CEO.  "TwinVision(R), our largest business unit, was up more than 55 percent;
 its sister business unit Transit Media in Germany was up about 85 percent.
 DAC, the business unit striving to show significant improvement, saw an
 increase exceeding 100 percent. The DR Talking bus business unit was below the
 same period of last year.  We believe that is a result of the timing of
 shipments for the quarter; DR appears to be on track for a strong increase for
 the year," Turney noted.
     "We announced on March 6, 2001, that we expected the first quarter to show
 a significant improvement from the loss in the first quarter of 2000; that is
 still our expectation," Turney said.  "Order intake has been, and continues,
 strong and the backlog is higher than this time last year. I believe that
 bodes well for increased revenue and achieving overall profitable operations
 this year. We continue to see an excellent opportunity for a profitable 2001.
     "We still expect to move into the $34-35 million range this year,
 excluding any acquisitions, which we are pursuing," Turney said.  "We also
 believe the company will move on up in revenue to a $50 million run rate range
 in 2003, again excluding acquisitions. Our overall goal is to see the company
 in the $100 million run rate range in 2003 inclusive of acquisitions. In that
 regard, the Mobitec acquisition is presently expected to be completed in June,
 2001."
     DRI will hold an investor conference call to discuss its first quarter
 results on May 15, 2001 at 11:00 Eastern.  David L. Turney, Chairman and Chief
 Executive Officer, and Lawrence A. Taylor, Chief Financial Officer, will host
 the call.  The company will release its first quarter results ended March 31,
 2000.  They will discuss the first quarter results as well as the outlook for
 the rest of 2001.  Investors are welcome to participate on the call by dialing
 800-370-0869 or listen on the internet at
 http://www.digrec.com/financial_index.html .
     DRI is a market leader in transit, transportation and law enforcement
 digital communications and audio enhancement systems using proprietary
 software applications. The company's law enforcement market products include
 M-Cap and P-Cap Digital Signal Processing equipment. The company's transit and
 transportation systems include TALKING BUS(R), an on-vehicle internal voice
 messaging passenger information system; TwinVision(R), proprietary Electronic
 Destination Sign Systems; and recently announced Automatic Vehicle Location
 ("AVL") systems enabling Internet based services from that AVL information.
     Statements which are not historical facts, including statements about
 confidence, strategies, plans, and expectations about new and existing
 products, technologies and opportunities, market and industry segment growth,
 demand and acceptance of new and existing products are forward looking
 statements that involve risks and uncertainties.  The risks include, but are
 not limited to, product demand and market acceptance risks; the impact of
 competitive products and pricing; the effects of economic conditions and
 trade, legal, social and economic risks, such as import, licensing and trade
 restrictions; the result of the company's business plan and the impact on the
 company of its relationship with its lender. Use of words such as "expect",
 "expected", "believe", "plan", "anticipate", "would", "goal", "potential",
 "potentially", "range", "pursuit", "run rate", etc. are intended to identify
 forward looking statements that are subject to, but not limited to, the
 foregoing risks and uncertainties. Refer to the various SEC filings of the
 company such as its 10q and 10k for further information about such forward-
 looking statements.
 
 

SOURCE Digital Recorders, Inc.
    DALLAS, April 18 /PRNewswire/ -- Digital Recorders, Inc. (DRI)
 (Nasdaq:   TBUS) today announced it expects to report first quarter sales
 climbed 38 percent to about $7.0 million from $5.0 million a year earlier.
 The company plans to formally release results for the quarter ended March 31,
 2001 on May 15, 2001.
     "Revenue growth was strong overall and particularly evident in three of
 our four business units this quarter," said David L. Turney DRI's Chairman and
 CEO.  "TwinVision(R), our largest business unit, was up more than 55 percent;
 its sister business unit Transit Media in Germany was up about 85 percent.
 DAC, the business unit striving to show significant improvement, saw an
 increase exceeding 100 percent. The DR Talking bus business unit was below the
 same period of last year.  We believe that is a result of the timing of
 shipments for the quarter; DR appears to be on track for a strong increase for
 the year," Turney noted.
     "We announced on March 6, 2001, that we expected the first quarter to show
 a significant improvement from the loss in the first quarter of 2000; that is
 still our expectation," Turney said.  "Order intake has been, and continues,
 strong and the backlog is higher than this time last year. I believe that
 bodes well for increased revenue and achieving overall profitable operations
 this year. We continue to see an excellent opportunity for a profitable 2001.
     "We still expect to move into the $34-35 million range this year,
 excluding any acquisitions, which we are pursuing," Turney said.  "We also
 believe the company will move on up in revenue to a $50 million run rate range
 in 2003, again excluding acquisitions. Our overall goal is to see the company
 in the $100 million run rate range in 2003 inclusive of acquisitions. In that
 regard, the Mobitec acquisition is presently expected to be completed in June,
 2001."
     DRI will hold an investor conference call to discuss its first quarter
 results on May 15, 2001 at 11:00 Eastern.  David L. Turney, Chairman and Chief
 Executive Officer, and Lawrence A. Taylor, Chief Financial Officer, will host
 the call.  The company will release its first quarter results ended March 31,
 2000.  They will discuss the first quarter results as well as the outlook for
 the rest of 2001.  Investors are welcome to participate on the call by dialing
 800-370-0869 or listen on the internet at
 http://www.digrec.com/financial_index.html .
     DRI is a market leader in transit, transportation and law enforcement
 digital communications and audio enhancement systems using proprietary
 software applications. The company's law enforcement market products include
 M-Cap and P-Cap Digital Signal Processing equipment. The company's transit and
 transportation systems include TALKING BUS(R), an on-vehicle internal voice
 messaging passenger information system; TwinVision(R), proprietary Electronic
 Destination Sign Systems; and recently announced Automatic Vehicle Location
 ("AVL") systems enabling Internet based services from that AVL information.
     Statements which are not historical facts, including statements about
 confidence, strategies, plans, and expectations about new and existing
 products, technologies and opportunities, market and industry segment growth,
 demand and acceptance of new and existing products are forward looking
 statements that involve risks and uncertainties.  The risks include, but are
 not limited to, product demand and market acceptance risks; the impact of
 competitive products and pricing; the effects of economic conditions and
 trade, legal, social and economic risks, such as import, licensing and trade
 restrictions; the result of the company's business plan and the impact on the
 company of its relationship with its lender. Use of words such as "expect",
 "expected", "believe", "plan", "anticipate", "would", "goal", "potential",
 "potentially", "range", "pursuit", "run rate", etc. are intended to identify
 forward looking statements that are subject to, but not limited to, the
 foregoing risks and uncertainties. Refer to the various SEC filings of the
 company such as its 10q and 10k for further information about such forward-
 looking statements.
 
 SOURCE  Digital Recorders, Inc.