Here is the release with all of the details:
Brekford Announces Second Quarter Operating Results
Geographic Expansion and Service Offerings Gain Traction
Brekford Corp. (the “Company”) (OTCBB: BFDI) (OTCQB: BFDI), a leading public safety technology service provider of fully integrated traffic safety solutions, vehicle upfitting, and rugged mobile technology, today announced its operating results for the second quarter and first half of 2013.
C.B. Brechin, CEO of Brekford
Management Comments
“We announced a number of new contracts during the second quarter that are supportive of our geographical expansion strategy and our municipal receivables recovery initiatives,” continued Brechin. “Our relationship with Automated Traffic Enforcement Solutions (‘ATES’) has resulted in the signing of four automated traffic enforcement contracts in Missouri since the end of the first quarter, which is consistent with our goal of expanding into multiple states in the eastern and midwestern regions of the U.S. ATES evaluated a variety of equipment and software solutions before selecting Brekford as its strategic partner, and we look forward to our role in support of its automated traffic enforcement programs in Missouri and other midwestern states. The implementation of automated traffic safety enforcement in school zones, work zones and high traffic accident areas in the four cities and towns in Missouri where contracts have been announced should enhance the safety of both motorists and pedestrians in new geographic markets.
MR. BRECHIN CONTINUES:
“We also entered into contracts to process parking citations and manage delinquent collections for the cities of Asheville, North Carolina, and Laurel, Maryland, during the most recent quarter. This provides an initial validation of our Company’s plan to expand the range of recurring revenue services that we provide to municipalities through our Municipal Recover Agency, LLC subsidiary, which was established early this year.”
“We anticipated a net loss during the second quarter, as we incurred significant costs in anticipation of our role as the primary vendor in the implementation of Baltimore’s Automated Traffic Enforcement Program (‘ATVES’),” stated C. B. Brechin, Chief Executive Officer of Brekford Corp. “We believe Baltimore’s decision to require extremely thorough testing of cameras and related equipment, while delaying the start-up of the ATVES, will result in highly efficient and accurate speed and red light enforcement that is fair and transparent to motorists, while assuring a level of enforcement that will significantly reduce speeding and reckless driving within the City. Recent testing and calibration of equipment and software have produced encouraging results, and we expect the Baltimore ATVES program to be fully activated during the current quarter. This is a five-to-eight-year contract, and while ‘ramp-up’ costs related to the program impacted our operating results during the most recent quarter, we look forward to the full implementation of the program during the second half of 2013.”