DIRV
DirectView Achieves Record Sales and Gross Profit During 1st Half 2018, Reaffirms Positive Outlook, and Continues Investments in Technology for Future Growth
Virtual Surveillance and ApexCCTV Acquisition Completed and Fully Integrated, Driving Growth as Business Transformation Continues.
NEW YORK, August 20, 2018 /PRNewswire/ –DirectView Holdings, Inc., (OTC
IRV) (“DirectView” or the “Company”), a company focused on ownership and management of leading video and security technology companies, announced today that the Company achieved record sales and gross profit during the six months ended June 30, 2018.
DirectView’s record results reflect the completed integration of the Virtual Surveillance and ApexCCTV acquisitions (which closed during the 2ndquarter of 2017). Record results are also attributed to several sizable new and existing contracts.
First Half 2018 Results
70% sales growth to a record $2.3 million
73% growth in product sales to a record $1.9 million
57% growth in services sales to a record $0.4 million
37% gross profit growth to a record $1.0 million
64% growth in product gross profit to a record $0.9 million
185% increase in SG&A
Sales and gross profit expanded significantly during the first half of 2018, reflecting strong DirevtView product and services demand. SG&A reflects on-going investments in technology and additional customer-facing headcount.
Roger Ralston, DirectView’s CEO stated: “DirectView’s first half of 2018 performance generated the highest sales and profits of any period in our history. As we continue our technology and acquisition investments, we realize significant adoption and scale will take time. The results speak for themselves and we remain laser focused and bullish on our strategy.”
Recent Business Highlights Drive Future Growth
New Orders for School Security and Surveillance– Announced on August 8, 2018, DirectView has received orders from a Texas college and prestigious New York City private school or DirectView’s advanced surveillance cameras, both covert and overt, as well as entry access control camera solutions.
New Company Wide Master Agreement to Service Mission Foods Facilities, a $3.7B Leader in the Global Food Production Space– Announced on July 30, 2018, DirectView is expected to realize 7-digit revenue under the Master Agreement to install comprehensive security solutions of all security surveillance equipment, access control, and related infrastructure, in addition to multiyear support and service contracts.
Virtual Surveillance and ApexCCTV Acquisition Completed and Fully Integrated, Driving Growth as Business Transformation Continues.
NEW YORK, August 20, 2018 /PRNewswire/ –DirectView Holdings, Inc., (OTC
IRV) (“DirectView” or the “Company”), a company focused on ownership and management of leading video and security technology companies, announced today that the Company achieved record sales and gross profit during the six months ended June 30, 2018. DirectView’s record results reflect the completed integration of the Virtual Surveillance and ApexCCTV acquisitions (which closed during the 2ndquarter of 2017). Record results are also attributed to several sizable new and existing contracts.
First Half 2018 Results
70% sales growth to a record $2.3 million
73% growth in product sales to a record $1.9 million
57% growth in services sales to a record $0.4 million
37% gross profit growth to a record $1.0 million
64% growth in product gross profit to a record $0.9 million
185% increase in SG&A
Sales and gross profit expanded significantly during the first half of 2018, reflecting strong DirevtView product and services demand. SG&A reflects on-going investments in technology and additional customer-facing headcount.
Roger Ralston, DirectView’s CEO stated: “DirectView’s first half of 2018 performance generated the highest sales and profits of any period in our history. As we continue our technology and acquisition investments, we realize significant adoption and scale will take time. The results speak for themselves and we remain laser focused and bullish on our strategy.”
Recent Business Highlights Drive Future Growth
New Orders for School Security and Surveillance– Announced on August 8, 2018, DirectView has received orders from a Texas college and prestigious New York City private school or DirectView’s advanced surveillance cameras, both covert and overt, as well as entry access control camera solutions.
New Company Wide Master Agreement to Service Mission Foods Facilities, a $3.7B Leader in the Global Food Production Space– Announced on July 30, 2018, DirectView is expected to realize 7-digit revenue under the Master Agreement to install comprehensive security solutions of all security surveillance equipment, access control, and related infrastructure, in addition to multiyear support and service contracts.
