CEO very confident that 2013 will be a great year. They have overhauled their marketing area by adding sales force personnel, increasing the number of territories, reducing the size of each and adding sales incentives.
Commercial Business - They have more than doubles their goal for 2013. Recent announced contract was approz ~350K, tremendous amount of commercial business in the pipeline.
International Market - Picking up, 60% of 2012 sales were in the 4th qtr, expect 2013 to be the biggest year in last 4 years.
Would be surprised if we did not see really good numbers in the near term
CFO was more optimistic about the coming year than I have noted in past conference calls. In the past, he ways much more conservative on his projections. His comments included:
We are pleased with the trend we are seeing. 90% of last year's loss occured in the first halve of the year. Starting to see impact in the 3rd and 4th qtrs.
International Revenue - Every qtr has improved
Commercial Market - We have large Test and Evaluation projects with the Taxi and Limo Markets, anxious to see results, they are very receptive to our products (DVM-250 and DVM-250 Pro)
Insurance Companies - We are in discussion with, have been approached by, offered products that give fleet discounts if they use our product
International Revenue - Believe 2012 will be the bottom, 2013 will see dramtic improvements, difficult to predict but the amount of international pipeline is very strong, strong as I have ever seen it.
sales Mix improving Margins
New product to be introduced in the 2nd qtr, First Vu with High Definition and other special features. Have increased production from 2000 units to 4500 units based upon initial demand received in marketing efforts. Company leadership believes this will be a hugh revenue and profit contributor in 2013 and beyond.