2012-12-03 14:00:04 -
RICHMOND, BRITISH COLUMBIA -- (Marketwire) -- 12/03/12 -- DDS Wireless International Inc. ("DDS" or "the Company") (TSX:DD) (announced today that its Taxi business unit, Digital Dispatch Systems has signed a significant contract, among others, with a prestigious taxi company in California for $0.7 million for the implementation of DDS' market leading mobile data terminal, the Vector 9000(TM). This is the second large contract in California in the last 4 weeks and collectively this year the Company has upgraded more than 2,000 units to the Vector 9000(TM) in the Greater LA and San Diego region. The other Taxi business unit contracts also include upgrades to the PathFinder(TM) system in British Columbia and continued purchases of EMV units in Alberta.
"We are very pleased that this long standing customer of 16 years and other marquee customers in the California region have elected to upgrade to our new products, the PathFinder(TM) dispatch software and the Vector 9000(TM) mobile computers," stated Vari Ghai, CEO of DDS. "We are very encouraged with this continued trend of upgrades in our customer base."
Furthermore, the Company also announces today that its Transit business unit StrataGen Systems Inc. ("StrataGen") has closed orders for its mobile computers of $0.4 million. These deals are a continuation of StrataGen's successful efforts to expand the footprint for the Vector 9000(TM) in key transit markets.
DDS anticipates that approximately $0.8 million of the above noted contract signings will be recognized as revenue in fiscal 2012.
About DDS Wireless International Inc.
DDS Wireless International Inc. is a global leader in providing application software for multiple vertical markets within the transportation industry. The Company specializes in transit routing and scheduling, real-time dispatching, vehicle location and tracking software applications, communications infrastructure as well as in-vehicle wireless devices. DDS Wireless operates three businesses dedicated for Taxi, Transit and New Markets such as Limousines, Airport Shuttles and Work fleets. The Company supports its customers worldwide through its offices in Canada, Finland, Singapore, Sweden, U.K. and U.S.A.
This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, operations, anticipated financial performance, business prospects and strategies, statements about future market conditions, supply and demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical facts. Such forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, business risks, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Given these risks and uncertainties DDS Wireless cannot guarantee that any forward-looking statements will be realized.
DDS Wireless International Inc.
(604) 241 1441 Investors@ddswireless.com
DDS Wireless International Inc.
Caroline J. Dunn
Chief Financial Officer
(604) 214 7206