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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Digital Ally, Inc.    DGLY

DIGITAL ALLY, INC.

(DGLY)
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Digital Ally Announces DANA Safety Supply As New Domestic Outfitter Of Law Enforcement Video Solutions

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08/13/2020 | 09:01am EDT

DANA Safety Supply to be a Certified Outfitter of Digital Ally Equipment Nationwide

Lenexa, KS , Aug. 13, 2020 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, today announced a new partnership with DANA Safety Supply (DSS) to be a certified domestic outfitter of the Company’s law enforcement video solution products. This partnership will help to supply law enforcement agencies nationwide with much-needed video evidence recording technology.

DSS provides emergency vehicle equipment, installation services, and public safety products to numerous state, federal, and local public safety agencies. With 26 operating locations nationwide, DSS has a long and successful history of serving not only the law enforcement community, but public safety fleets. DSS is also an approved contractor for the GSA and has a GSA contract for numerous public safety products and also for installation and outfitter services.

“We are excited to partner with Digital Ally, the company that provides the most innovative, dependable and flexible video solutions for law enforcement,” said David Russo, CEO of DANA Safety Supply, adding “As the largest provider of its type in the nation, we look to provide the law enforcement community and public safety fleets with the best equipment available. We believe Digital Ally’s equipment will aid in supplying the technology needed,” concluded Mr. Russo.

Stan Ross, CEO of Digital Ally, stated “Current events are bringing widespread attention to the importance of body cameras and in-car video systems. By partnering with DANA Safety Supply we are confident we will be able to supply more departments with the critical tools they need,” continuing, “DANA Safety has long served the law enforcement community and we look forward to a successful partnership,” concluded Mr. Ross.

About DANA Safety Supply Inc.

Dana Safety Supply Inc. is major warehousing distributor, service provider, supplier, and Upfitter of law enforcement, public safety fleet products, and Tactical equipment to Public Agencies Nationwide. DSS operates multiple facilities in FL, GA, SC, NC, VA, AL, LA, TX, AR, OK, CA, and MT and is the largest Company of its type in the nation. Founded in 2005, DSS employs more than 260 people through 26 locations in the U.S.

About Digital Ally

Digital Ally®, headquartered in Lenexa, KS, specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. These products work seamlessly together and are simple to install and operate. In addition, Digital Ally recently launched two new product lines including a non-contact thermometer/controlled-entry device under the Company’s ThermoVu™ brand and an EPA Category IV disinfectant/sanitizer under the Company’s Shield™ brand. Digital Ally products are sold by domestic direct sales representatives and international distributors worldwide.

For additional news and information please visit www.digitalallyinc.com or follow additional Digital Ally Inc. social media channels here:

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Contact Information
Stanton Ross, CEO
Tom Heckman, CFO
Digital Ally, Inc
913-814-7774

info@digitalallyinc.com

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will be able to improve its revenue and operating results, especially in light of the adverse effects of the Covid-19 pandemic on our customers, suppliers and employees; whether our new DANA outfitter relationship will increase our distribution of video evidence recording technology to law-enforcement agencies nationwide; whether it will be able to resolve its liquidity and operational issues and raise sufficient capital given the impact of the Covid-19 pandemic; whether it will be able to achieve improved production and other efficiencies to restore its gross and operating margins in the future; whether the Company will be able to continue to expand into non-law enforcement markets, including disinfectant/sanitizer and temperature screening products, and increase its service based revenue; whether the Company has resolved its product quality and supply chain issues; whether the EVO-HD will help the Company increase its product revenues; whether the Company will achieve positive outcomes in its patent litigation; whether and the extent to which the US Patent and Trademark Office (USPTO) rulings will curtail, eliminate or otherwise have an effect on the actions of competitors and others in the marketplace respecting the Company, its products and customers; its ability to deliver its newer product offerings as scheduled, and in particular the new EVO-HD product platform, obtain the required components and products on a timely basis, and have them perform as planned; its ability to maintain or expand its share of the markets in which it competes, including those outside the law enforcement industry; whether it will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “projects,” “should,” or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. It does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2020 and in its annual report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission.

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© GlobeNewswire 2020

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Financials (USD)
Sales 2020 9,21 M - -
Net income 2020 -7,50 M - -
Net Debt 2020 - - -
P/E ratio 2020 -5,67x
Yield 2020 -
Capitalization 54,2 M 54,2 M -
Capi. / Sales 2020 5,89x
Capi. / Sales 2021 4,95x
Nbr of Employees 119
Free-Float 85,4%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 1
Average target price 5,00 $
Last Close Price 2,04 $
Spread / Highest target 145%
Spread / Average Target 145%
Spread / Lowest Target 145%
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Managers
NameTitle
Stanton E. Ross Chairman, President & Chief Executive Officer
Christa Johnson Vice President-Operations
Thomas J. Heckman CFO, Secretary, Treasurer, & Vice President
Mark Gordon Director-Technical Services
Daniel F. Hutchins Independent Director
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