-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MM2ajUzJFj8pUz2EaMsPTrPSjapeKfy1idoJ6iiHK6wNgJlXN24qD6l8aUNuwlxB 50us0SZqkmK9fumrWlFe1A== 0001157523-08-001952.txt : 20080304 0001157523-08-001952.hdr.sgml : 20080304 20080304092018 ACCESSION NUMBER: 0001157523-08-001952 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080304 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080304 DATE AS OF CHANGE: 20080304 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DRI CORP CENTRAL INDEX KEY: 0000853695 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 561362926 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28539 FILM NUMBER: 08662029 BUSINESS ADDRESS: STREET 1: 5949 SHERRY LANE STREET 2: SUITE 1050 CITY: DALLAS STATE: TX ZIP: 75225 BUSINESS PHONE: (214) 378-8992 MAIL ADDRESS: STREET 1: 5949 SHERRY LANE STREET 2: SUITE 1050 CITY: DALLAS STATE: TX ZIP: 75225 FORMER COMPANY: FORMER CONFORMED NAME: DIGITAL RECORDERS INC DATE OF NAME CHANGE: 19940824 8-K 1 a5625332.htm DRI CORP. 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 4, 2008

______________

DRI Corporation
(Exact Name of Registrant as Specified in Its Charter)

North Carolina

000-28539

56-1362926

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

5949 Sherry Lane, Suite 1050, Dallas, Texas 75225

(Address of Principal Executive Offices) (Zip Code)

Registrant's Telephone Number, Including Area Code

(214) 378-8992

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 2.02     Results of Operations and Financial Condition.

On March 4, 2008, DRI Corporation announced that, according to preliminary results, it expects to report an increase in fourth quarter and fiscal year 2007 net sales of approximately 30.9 percent and 17.8 percent, respectively, as compared to sales for the same periods in 2006.

In addition to anticipating a profitable outcome for fiscal year 2007, the Company also announced that it expects to post further growth and profitability in fiscal year 2008.

The Company also announced that on or about March 14, 2008, it anticipates filing with the Securities and Exchange Commission (SEC) its Annual Report on Form 10-K for the period ended Dec. 31, 2007, as well as conduct a shareholders’ conference call.

The Company also announced upcoming investor relations meetings.

A copy of the Company's press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This Form 8-K and the attached exhibit are furnished to, but not filed with, the Securities and Exchange Commission.

This current report on Form 8-K and the accompanying press release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements concerning the timing or amount of future revenues, expectations of profitability, expected business and revenue growth trends, future annualized revenue run rates, and anticipated increases in shareholder value, as well as any statement, express or implied, concerning future events or expectations or which use words such as "expect," "fully expect," "expected," "appears," "believe," "plan," "anticipate," "would," "goal," "potential," "potentially," "range," "pursuit," "run rate," "stronger," "preliminarily," etc., is a forward-looking statement. These forward-looking statements are subject to risks and uncertainties, including risks and uncertainties that the Company may not have accurately forecasted the timing or amount of future revenues, that its expectations as to future business and revenue growth trends, future annualized run rates, and increases in shareholder value may not prove accurate over time, as well as other risks and uncertainties set forth in the Company’s Annual Report on Form 10-K filed March 28, 2007, 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.

Item 7.01     Regulation FD Disclosure.

The Company incorporates by reference the information included in Item 2.02 and Item 9.01 of this Form 8-K. This Form 8-K and the attached exhibit are furnished to, but not filed with, the Securities and Exchange Commission.

Item 9.01     Financial Statements and Exhibits.

(a)     Exhibits.
          99.1       Press release dated March 4, 2008.


Signature(s)

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

DRI CORPORATION

 

Date:

March 4, 2008

By:

/s/ STEPHEN P. SLAY

Stephen P. Slay

Vice President, Chief Financial Officer, Secretary, and Treasurer


INDEX TO EXHIBITS

EXHIBIT

NUMBER

 

DESCRIPTION

 
99.1

Press release dated March 4, 2008.

EX-99.1 2 a5625332ex99_1.htm EXHIBIT 99.1

Exhibit 99.1

DRI Corporation Reports Record Net Sales in Preliminary Fourth Quarter and Fiscal Year 2007 Results

DALLAS--(BUSINESS WIRE)--DRI Corporation (DRI) (NASDAQ: TBUS), a digital communications technology leader in the domestic and international surface transportation and transit security markets, announced today that, according to preliminary results, it expects to report an increase in fourth quarter and fiscal year 2007 net sales of approximately 30.9 percent and 17.8 percent, respectively, as compared to sales for the same periods in 2006.

David L. Turney, the Company’s Chairman, President, and Chief Executive Officer, said, “Our fourth quarter and fiscal year 2007 year-over-year sales growth reflects our ability to capitalize on increasing demand in the intelligent transportation systems and security markets with a suite of highly differentiated products. In addition to anticipating a profitable outcome for fiscal year 2007, we expect to post further growth and profitability in fiscal year 2008 as we continue to expand our served markets, add products and features, and further increase our international presence.”

On or about March 14, 2008, the Company anticipates filing with the Securities and Exchange Commission (SEC) its Annual Report on Form 10-K for the period ended Dec. 31, 2007. That day at Noon (Eastern), management also plans to conduct a conference call to discuss the Company’s fourth quarter and fiscal year 2007 financial results, as well as the outlook for first quarter and fiscal year 2008.

INVESTOR EVENTS

  • Investor Presentations, March 4, 2008, New York – Management plans to discuss the Company’s products, markets, technologies, and long-term growth initiatives with investment professionals.
  • Wall Street Luncheon, March 13, 2008, Dallas, Texas – Friedland Investment Events LLC is hosting this event. For more information, visit www.friedlandevents.com.

ABOUT THE COMPANY

DRI Corporation is a digital communications technology leader in the domestic and international public 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 or amount of future revenues, expectations of profitability, expected business and revenue growth trends, future annualized revenue run rates, and anticipated increases in shareholder value, as well as any statement, express or implied, concerning future events or expectations or which use words such as “expect,” “fully expect,” “expected,” “appears,” “believe,” “plan,” “anticipate,” “would,” “goal,” “potential,” “potentially,” “range,” “pursuit,” “run rate,” “stronger,” “preliminarily,” etc., is a forward-looking statement. These forward-looking statements are subject to risks and uncertainties, including risks and uncertainties that we may not have accurately forecasted the timing or amount of future revenues, that our expectations as to future business and revenue growth trends, future annualized run rates, and increases in shareholder value may not prove accurate over time, as well as other risks and uncertainties set forth in our Annual Report on Form 10-K filed March 28, 2007, 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.

CONTACT:
DRI Corporation
Veronica B. Marks
Manager, Corporate Communications
Phone: (214) 378-4776
Fax: (214) 378-8437
E-Mail: veronicam@digrec.com
or
Sharon Merrill Associates, Inc.
David C. Calusdian
Executive Vice President and Partner
Phone: (617) 542-5300
Fax: (617) 423-7272
E-Mail: dcalusdian@investorrelations.com

-----END PRIVACY-ENHANCED MESSAGE-----