Filed in: Penny Stocks, Brekford Corp., BFDI, Automated Traffic Enforcement
Brekford Corp. (OTCQB: BFDI) Brekford’s new division focused on Automated Traffic Enforcement is now assisting budget strapped municipalities in providing turn-key (violator funded programs) by which municipalities are witnessing positive cash flow without unduly taxing its law abiding residents.
This direction has allowed BFDI to improve its revenue stream and cash position right now and this is cash flow positive event is anticipated to continue not only from new business but from a wide expansion of existing services.
Brekford is not only selling and installing the entire technical system for Automated Traffic Enforcement, but they are providing the ‘back office’ support system for a percentage of revenue collected. This means, Brekford mails the citation, collects the fine and at the end of the month with holds their agreed upon rate and forwards the remainder to the law enforcement agency.
Fiscal Year 2010: Positive Net Income
For the year ended December 31, 2010, the Company reported net sales totaling approximately $11.6 million. The Company’s cash position as of the end of 2010 remains positive at $1.5 million with a gross profit for 2010 of $1.9 million.
Fresh Revenue Stream
Brekford’s automated photo enforcement program was implemented during December 2010. A fresh stream of revenues has been created from the newly introduced Automated Traffic Enforcement Programs.
Brekford has been awarded automatic traffic enforcement contracts by several municipalities during the past several months and the implementation of these contracts is anticipated to bring added revenues and profitability to the Company beginning this quarter.
The technical advantage and reputable customer service that Brekford possesses is anticipated to be the foundation required to position the BFDI to compete with the leaders of the automatic traffic enforcement services within a relatively short time.
This release contains forward-looking statements within the meaning of that term in Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may differ materially from the results suggested by these forward-looking statements, for a number of reasons, including, but not limited to, market conditions, the cost and success of development activities and ability to successfully manage growth. Readers are referred to the documents filed by Brekford Corp. with the SEC, specifically the Company’s most recent reports filed on Form 10-K and Forms 10-Q, which further identify the important risks, trends and uncertainties which could cause actual results to differ materially from the forward-looking statements in this press release. The Company expressly disclaims any obligation to update any forward-looking statements.