Brekford Corp. (OTCBB: BFDI) has established a solid beach head in:
- Automated Traffic Enforcement and
- Automatic Traffic Safety Solutions
Not only is Brekford in the right place at the right time, but they have positioned themselves in this rapidly expanding technological field to generate ongoing revenue by issuing the citation, collecting the fines and retaining a percentage of the amount collected for shareholders.
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.
Brekford’s automated photo enforcement program was implemented during December 2010. A fresh stream of revenues has been created from this newly introduced program.
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.
- Red Light 20,000-30,000 systems
- Speed 35,000-50,000 systems
Industry Market Penetration
- Red Light 18%
- Speed 2%
States That Have Adopted Legislation Authorizing Automated Traffic Enforcement
- Alabama, Arizona, California, Colorado, Delaware, DC, Florida, Georgia, Illinois, Iowa, Louisiana, Maryland, Missouri, New York, New Jersey, North Carolina, Nevada, New Mexico, Ohio, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, Washington
- Arizona, Colorado, DC, Illinois, Iowa, Louisiana, Maryland, Oregon, Tennessee, Utah, Washington
Photo Enforcement solutions can reduce collisions, injuries and deaths by providing a useful tool for municipalities and law enforcement agencies – without unduly taxing drivers who do not break the law. Today, nearly 450 communities across the US operate red light or speed camera enforcement programs.
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.
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