DirectView Reports Record Sales For The 9 Months Ended September 30th, 2018, Provides Update on New COO/CFO, And Executes Focused Initiatives to Drive Future Growth.

DirectView’s New Initiatives Continue To Drive Growth, Alongside Virtual Surveillance and Apex CCTV

 

NEW YORK, November 20, 2018 /PRNewswire/ – 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 for the nine months ended September 30, 2018.
DirectView’s record results reflect a number of large new and existing customer projects where DirectView and its subsidiaries were awarded contracts.
2018 Nine Months Results
  • 22% sales growth to a record $3.3 million
  • 20% growth in product sales to a record $2.7 million
  • 32% growth in services sales to a record $0.6 million
  • 7% gross profit growth to a record $1.3 million
  • 30% growth in product gross profit to a record $1.4 million
  • 400 basis point gross profit margin increase to 52.3%
  • 108% increase in SG&A
Sales and gross profit trends continued to expand during the first nine months of 2018 and reflect continued strong product and services demand. SG&A continues to reflect on-going investments in technology and additional customer-facing headcount.
Roger Ralston, DirectView’s CEO stated: “DirectView’s performance during the first nine months of 2018 turned out to be impressive, generating the highest sales and profits of any period in the Company’s history. As we continue to be awarded significant new and existing contracts, we continue to invest in our subsidiaries to support the continuation of significant growth, customer experience, and satisfaction— thereby ensuring our customers receive industry-leading products and service throughout the project life cycle.
Recent Business Highlights Drive Future Growth
New COO/CFO Update
In September 2018, DirectView named Chris Cutchens as Chief Operating and Financial Officer, expanding its C-Suite position to drive organic growth, bolster M&A activity, and fuel business transformation.
Chris Cutchens, DirectView’s COO/CFO stated: “DirectView is well positioned to transform the security and surveillance industry, all while experiencing significant organic and inorganic growth. The current market is significantly fragmented and ripe for the adaptation of DirectView’s product and service offerings, as well as its roll-up acquisition strategy. The remainder of 2018 will be focused on completing the establishment of a solid foundation to position the Company for scale beginning in 2019 and thereafter.”
Mr. Ralston added: “Since joining the DirectView family in September 2018, Chris has hit the ground running, tackling a number of critical initiatives while staying laser-focused on DirectView’s long-term strategy of maximizing the return on our investment in people, process, and technology to significantly transform our industry and customer experience.”
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.comand 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