DirectView
Achieves
Record Sales and Gross Profit During 2018; Continues
Developing
Acquisition Pipeline to Drive
Future
Growth
Execution of
Acquisition Pipeline Focus Will Drive Significant Revenue and
Earnings Growth
During 2019
and Beyond
NEW YORK, NY
-- April
16,
2019 --
InvestorsHub NewsWire -- DirectView Holdings, Inc.,
(OTC:DIRV)
("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 its 2018
fiscal year.
DirectView's
record results reflect a continued
increase in number of
large new and existing customer projects whereby DirectView
companiesand
its subsidiaries were
awarded the
related contracts.
2018
Results
- 41% sales growth to a record $4.1
million
- 39% growth in product sales to a record
$3.3 million
- 51% growth in services sales to a record
$0.8 million
- 27% gross profit growth to a record
$1.6 million
- 46% growth in product gross profit to a record
$1.7 million
- 436 basis point gross profit
margin decrease to 39.1%
- 111% increase in SG&A
Sales
and gross
profit trends
continued
to expand
during
2018 and
reflect strong
product and
services demand,
while SG&A
continues
to reflect
on-going committed
investments in
technology and additional customer-facing headcount.
Roger Ralston,
DirectView's CEO stated:
"DirectView's
record
2018 performance
for
2018reflectsis
a reflection of our
laser
focused strategy
on
beingto be
the best in
the industry across all facets of the customer
experience, from system
design, to
installation, to post installation
support.
Our
team's customer
first focus has generated the highest
sales and profits of any year
in
our history. Additionally,
our focus on delivering a world class customer experience is fueled
by the investments we continue making in our team
as
we continue to professionalizegrow
the
company within the
areas of people, process, and technology."
Recent
Business Highlights Drive Future
Growth:
- DirectView's
Virtual Surveillance Signs Master Agreement With Integrity General
Contractors Announced
March 28, 2019, DirectView's Virtual Surveillance Becomes
Authorized Contractor And Receives First Contract From Texas
General Contractor
- DirectView
Wins New Contract with LBU Lighting Announced
March 21, 2019, DirectView's wholly-owned subsidiary, DirectView
Security Systems, Inc., has received a new contract with LBU
Lighting and has been reselected to provide and install
surveillance equipment for the retailer's multiple new locations in
Central Florida
- DirectView
Enters Smart Home Market with Google Home, Nest, & Amazon Ring
Products Announced
March 11, 2019, DirectView's online e-commerce site ApexCCTV.com
Records Increase In Orders And Revenue of 172% And 185%,
Respectively
- DirectView's
Virtual Surveillance Completes Surveillance Equipment Installation
for Texas School Announced
February 25, 2019, Wholly-Owned
Subsidiary Virtual Surveillance Enhances School Safety With Access
Control And Surveillance Technology
- DirectView to
Be Interviewed at NASDAQ Announced
January 22, 2019, DirectView Providing Updates, Discussing LOI And
Corporate Progress At NASDAQ Interview
- DirectView
Proceeds with Next Phase of Acquisition Announced
January 16, 2019, DirectView is working diligently on the next
stages of the previously announced letter of intent to acquire 100%
of the business assets of a nationwide, New York based, security,
surveillance and low voltage supply company
- DirectView to
Attend NASDAQ Interview to Provide Update on LOI and Corporate
Progress, and to Present At 2019 Cannabis Conference
Announced
January 9, 2019, DirectView Management Books Ahead Public Events In
First Quarter Of 2019 And NASDAQ Interview In
January
- DirectView
Signs Letter of Intent to Acquire a Privately Held Nationwide New
York-Based Security, Surveillance and Low Voltage Supply
Company Announced
December 17, 2018, DirectView entered into a nonbinding letter of
intent to acquire 100% of the business assets of a nationwide New
York based security, surveillance and low voltage supply company
with 2018 unaudited revenues of approximately $45
million
- DirectView
Enters Contract with Acquisition Firm Murphy Business Sales to
Acquire Additional Subsidiaries in the Security and Surveillance
Industry Announced on
November 28, 2018, DirectView Enters Buyer's Agreement Contract
With Business Brokerage Firm To Acquire And Locate Profitable
Surveillance Subsidiaries
About
DirectView Holdings, Inc.
DirectView
Holdings, Inc., (DIRV)
together with its subsidiaries, provides video surveillance
solutions and teleconferencing products and services to businesses
and organizations. The company operates in two divisions, Security
(Video Surveillance) and Video Conferencing. The Security division
offers technologies
in surveillance systems providing onsite and remote video and audio
surveillance, digital video recording, and services. It also sells
and installs surveillance systems; and sells maintenance
agreements. The company sells its products and services in the
United States and internationally through direct sales force,
referrals, and its websites. The Video Conferencing division offers
teleconferencing products and services that enable clients to
conduct remote meetings by linking participants in geographically
dispersed locations. It is involved in the sale of conferencing
services based upon usage, the sale and installation of video
equipment, and the sale of maintenance agreements. This division
primarily provides conferencing products and services to numerous
organizations ranging from law firms, banks, high tech companies
and government organizations. For more information visit our
websites at http://www.DirectView.com,
http://www.ApexCCTV.com,
http://www.VS-US.com
and connect
with us on Twitter, LinkedIn, Facebook, and Google+.
Cautionary
Statement Regarding Forward Looking Statements
Forward
Looking Statements: This press release contains forward-looking
statements that involve a number of risks and uncertainties,
including statements regarding the outlook of the Company's
business and results of operations. By nature, these risks and
uncertainties could cause actual results to differ materially from
those indicated. Generally speaking, any statements using terms
such as "will," "expect," "anticipate," or "may," or which
otherwise predict or address future results or events, are likely
to contain forward-looking statements. It is important to note that
actual results may differ materially from what is indicated in any
forward-looking statement. Readers should consider any
forward-looking statements in light of factors that could cause
actual results to vary. These factors are described in our filings
with the SEC, and readers should refer to those filings, including
Risk Factors described in those filings, in connection with any
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contact:
DirectView
Holdings, Inc.
Roger
Ralston
1-212-858-9100
EXT. 111
IR@DirectView.com
http://www.DirectView.com