The unfortunate death of Michael Brown in Ferguson by a police officer has resulted in an increased sale for DGLY from Digital Ally. The products of video surveillance that the company offers are in high demand among the law enforcement agencies.In fact, the shares of the company got a push when Michigan State Police ordered their products again. The share price went up by a whopping 309%.
As Stanton Ross, the CEO of Digital Ally said, “Since Ferguson, inquiries have increased, conservatively, five fold.” The company is already a supplier for car video systems of many law enforcement agencies. However, hardly any agency gives their officers body cameras. If these are given then bodily confrontation can be reduced to a large extend. Therefore digital also rolled out FirstVu HD body camera system for $995 and DVM-800 car video system for $3,495. The products are as Ross said, “every bit as dominate as we thought it was going to be.”
The first item FirstVu is capable of sending video from the crime (or would be crime scene) then and there. Ross remarked that, “The importance of video evidence gathering has been there for a long time, it’s just been a matter of funding,” “But imagine what the city of Ferguson, the county and the state has spent since the Ferguson incident.”
Other than law agencies, their security equipmentis also ideal for fire departments, ambulance, private security agencies, truckers, taxicabs and other such sectors.
The company had a $2.5 million loss in 2013. However,the $1.1 million Michigan order and other orders are expected to push up its revenue to around $22.5 million. A pleased Ross said, “We’re coming off 18 to 24 months of spending more money on research and development for new products, and we’re starting to reap the benefits.”