Salt Lake City, UT / ACCESSWIRE / October 20, 2014 / Brekford Corp. (BFDI) is a leading public safety technology service provider of automated traffic safety enforcement ("ATSE") solutions, parking enforcement solutions, and an end-to-end suite of technology equipment for public safety vehicle services. Trading at .21 per share with a market cap of 9.1 million, BDFI's stock is trending positively, recently new announcement of a contract signing for the City of Saltillo’s first photo enforcement safety program. The three-year contract calls for the deployment of 210 speed and red light cameras throughout the City. Saltillo has a population of more than 700,000 residents and more than 200,000 registered vehicles.
"Brekford has been working extensively with Grupo Canviso, since the signing of our exclusive arrangement earlier this year, to build a comprehensive ATSE solutions strategy in Mexico," commented Rod Hillman, President and Chief Operating Officer of Brekford Corp. "With the initiation of this first major project we have already begun to establish critical infrastructure elements in Saltillo where Grupo Canviso is headquartered. Promoting safe driving is a top priority for public officials who want to reduce accidents and deaths on the roads, and Brekford is excited to be a part of the solution. Saltillo is recognized in Mexico as an innovative City that extensively utilizes technology to improve the safety and security of its citizens," continued Mr. Hillman. "After extensive testing and joint presentations to key officials, the City selected our group to provide a full turnkey ATSE solution."
Brekford Corp. provides state-of-the art public safety technology and automated traffic enforcement solutions to municipalities, the U.S. military, various federal entities and other public safety agencies throughout the United States, with the Saltillo contract serving as new regional revunue to supplement Brekford's US operations. Services provided include automated speed and red light camera enforcement programs, parking enforcement citation collections and an end-to-end suite of cutting-edge technology and equipment for public safety vehicle up-fitting.
C.B. Brechin, Brekford’s Chief Executive Officer, stated that "Brekford is extremely pleased with the initial results of our collaboration with Grupo Canviso. We continue to expand our pipeline in Mexico with more than 15 cities considering our technology and services. Additionally we are actively looking at similar opportunities and partnerships in other countries as we focus on international expansion."
"We are excited to initiate our first project with Brekford in support of Saltillo’s pioneering photo enforcement program," said Alejandro Canales, Grupo Canviso’s President. "Saltillo officials had indicated that reducing accidents and deaths caused by speeding and red light running was a top priority for the administration. Grupo Canviso, in collaboration with Brekford, was able to offer a superior technical solution and we are anxious to get started with the program to improve driver safety for the City of Saltillo."
Advanced technologies have begun to eliminate the need for manned vehicles in the areas of enforcement and field services, meaning demand for new equipment is always on the rise. Two companies experiencing a boost from progressing tech trends in these markets are Trimble Navigation Limited (NASDAQ: TRMB) and Digital Ally (NASDAQ: DGLY). Trimble, which trades at 28.75 per, recently revealed a new cloud-based system for its Field Service Management solutions, viewed as a major step forward that should integrate their mobile, web, and business services while providing greater efficiency. Meanwhile, DGLY, which specializes in video surveillance, rose over 6% last week when it was awarded a design patent for a new data recording device. The company's stock has an average volume currently over 2 million and continues to perform well.
Digital Ally may be facing some stiff competition in the surveillance market, however, as Taser International (NASDAQ: TASR), trading at 15.05 and trending upward, announced a surge of orders for both its body-worn video camera technology as well as a state-of-the-art stun gun that it will be shipping to several different countries. All together the orders totaled roughly 3500 of the two items, which should amount to a stark increase in revenue.
Field service and public safety and enforcement equipment are frequently under-looked markets. However, any investor worth their salt can no longer ignore the tech-infused upswing of companies like BFDI or TRMB. Advancements in digital software has changed the playing field for enforcement technology, and this market shows no sign of slowing.
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SOURCE: Seraphim Strategies