Digital Ally (NASDAQ:DGLY) news for Tuesday concerning a massive body camera deal has DGLY stock flying high.
A Digital Ally news release reveals that the company has signed a deal with a country to provide it with its products. That includes its body cameras, as well as the web-based service that goes along with them.
The Digital Ally news doesn’t note which country is behind the deal. What it does say is that it’s an international deal. It also points out that the cameras will be used by its national police force. This will equip it with 5,000 body cameras.
Digital Ally notes that the deal was made following an evaluation period. This will have its cameras and services replacing those of one of its rivals. Yet again, it doesn’t say which rival company it is replacing.
Stanton Ross, Chief Executive Officer of Digital Ally, has this to say about the DGLY stock news.
“The Company has been working with one of its distributors on this contract for approximately twelve months, which illustrates the long sales cycle that is typical of large international market opportunities. We have sufficient inventory on hand and expect to fulfill the initial part of the order in the current quarter and continue deliveries as required.”
Digital Ally also mentions that this deal wasn’t accounted for in its fiscal 2020 guidance. The company’s guidance has revenue for the year coming in over $13.50 million. It doesn’t provide a new update to its revenue guidance.
DGLY stock was up 32.42% as of Tuesday afternoon.
