DirectView Reports Strong Sales and Gross Profit For 1st Half 2019 and Sees Increasing Demand For Products and Services
DirectView Reports Highlights For The First Half Of 2019
NEW YORK, August 15, 2019 – DirectView Holdings, Inc., (OTC:DIRVD) (“DirectView” or the “Company”), a company focused on ownership and management of leading video and security technology companies, announced today that the Company maintained a 44% gross profit margin, a 5.7% decrease in SG&A, and a 16.1% decrease in operating expenses during the six months ended June 30, 2019.
First Half 2019 Results
- 44% gross profit margin
- 5.7% decrease in SG&A
- 16.1% decrease in total operating expenses
- 41% increase in current assets and 16% increase in total assets
- $1,618,750 in gross sales and approximately $387,000. In differed revenue
Sales and gross profit trends remain steady during the first half of 2019, while the Company positions itself for future growth in product sales and services. SG&A reflects a stable environment while the Company continues to investigate growth opportunities.
Roger Ralston, DirectView’s CEO & Chairman commented, “DirectView’s first half 2019 performance generated excellent sales and a profit margin in line with the first half of 2018 when the Company recognized record sales. As we continue our technology and acquisition investments, with a primary focus of transforming our industry and our customer experience, we realize significant adoption of scale will take time and we remain laser-focused and bullish on our strategy. Our new multi-purpose facility is now under construction and we have a planned move in date of October 1. We see this new chapter in the lifecycle of our company to be very exciting and we see countless opportunities as we grow into the future.”
Some Recent Business Highlights Driving Future Growth
- Company participates in Amazon Prime Day 2019 with Storefront Discounts – Announced on July 16, 2019, that the Company’s wholly-owned subsidiary, ApexCCTV, a seasoned provider of security, surveillance and access control products, is providing discounted pricing on its Amazon storefrontin participation of Prime Day 2019.
- New Contract with Crestpark Condominiums – Announced on May 22, 2018, that the Company and it’s wholly-owned subsidiary, Virtual Surveillance, LLC., has received a new contract with Crestpark Condominiums of Dallas, Texas, and has been chosen to provide and install upgraded high definition security
- New Contract for Security and Surveillance Implementation for Exclusive New York City Office Tower – Announced on May 8, 2019, that the company has been chosen to design, plan and install their state of the art surveillance and access control in a NYC to
- New Contract from Gruma Foods – Announced April 24, 2019 GRUMA Mission Foods, contract valued in excess of $200,000. For DirectViews security, surveillance, and access control equipment, for Mission Foods, the manufacturer of tortilla-related products and
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.