HANOVER, MD--(Marketwired - May 15, 2013) - Brekford Corp. (
The contract includes the provision of wireless handheld enforcement devices, web-based parking citation processing software, processing services, in-state and out-of-state DMV look-ups, notice printing and mailing, a real-time public access website, an online appeal system, payment processing, and optional delinquent collection services. The contract term is for three years.
"Brekford is honored to be selected by the City of Asheville as a partner for its customer service-oriented parking citation program," stated Ron Given, Director of Financial Services at Brekford Corp. "We look forward to working with the City's Parking Division to provide best-in-class systems and services to meet Asheville's parking compliance and customer service objectives."
"The City selected Brekford from a large field of qualified candidates, but Brekford's focus on our enforcement operation and out-of-state collection needs distinguished the Company from its competitors," stated Harry Brown, Parking Services Manager for the City of Asheville. "The evaluation team was also impressed with Brekford's commitment to customer satisfaction and its reputation in other cities."
"This contract is a second recent win for our new financial services division, which was formed in 2012 to meet a growing need among municipalities to more effectively process and collect receivables," stated C.B. Brechin, CEO of Brekford Corp. "Municipal governments throughout the U.S. are carrying over $40 billion in uncollected receivables on their books, and we believe Brekford is well-positioned to assist cities throughout the U.S. in monetizing these assets. Consistent with Brekford's business model, the contract with Asheville is funded by issued citations and requires no up-front cash investment by the City. Brekford will be able to leverage its existing citation processing and collection infrastructure, which was initially developed to support the Company's automated speed and red light camera enforcement activities."
As part of its services, Brekford will coordinate closely with the City's Parking and Treasury Services Divisions, and it will also support the enforcement efforts of the Asheville Police and Fire Departments. Additionally, Brekford's technology will be integrated into the Parking Services Division's broader technology platform to provide a seamless exchange of data between parking and payment systems in order to maximize the efficiency and accuracy of relevant information.
About Brekford Corp.
Brekford Corp. has provided state-of-the-art mobile technology and traffic safety solutions to the U.S. military, various federal entities and numerous security and public safety agencies throughout the United States for more than ten years. The Company's 360-degree solution includes automated traffic enforcement programs, delinquent municipal receivables processing and collection, an end-to-end suite of mobile computer and video technology products, and turn-key law enforcement vehicle upfitting services.
The Company is headquartered in Hanover, Maryland (Baltimore metropolitan area) and its common stock trades on the OTC Bulletin Board and OTCQB under the symbol "BFDI". Additional information about Brekford may be found online at www.brekford.com .
Forward-Looking Statements
This press 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.
Contact: R. Jerry Falkner, CFA RJ Falkner & Company, Inc. Investor Relations Counsel 830-693-4400 or via email at info@rjfalkner.com
