DriveCam Video Systems Reports 10,000 Units Installed
SAN DIEGO--June 8, 2004--| Expanding Infrastructure Supports Strong Demand for Company's Safety Technology and Services |
DriveCam Video Systems, a developer of fleet safety technology that improves driving behavior, today announced a 120 percent increase in revenue for the first quarter 2004 over the same period in 2003 due to growing demand for its products and services.
To support demand, the company has added new staff in safety services, sales, engineering, product management, customer service and administration while increasing its facilities. The new staff members will work with DriveCam fleet customers to maximize the results of the DriveCam Driving Feedback System in reducing collisions and lowering operating expenses.
"We are investing in the infrastructure of the company to support our existing customers as well as develop new and improved products and services they will require in the future," said Ed Andrew, president of DriveCam. "Our investment in service and support is focused on helping our customers quickly maximize the economic and safety benefits of the DriveCam Program they have purchased from us."
DriveCam's Driving Feedback System directly addresses one of the toughest challenges for commercial fleets -- improving driving behavior. The DriveCam program is used to record actual driving incidents from the vehicle. When recordings are used to counsel drivers about their specific driving habits, they quickly improve. At the same time, recordings of actual driving events provide proof in the case of an accident, prevent fraudulent claims, capture contributory negligence, and create real life training scenarios.
Commercial fleets have reported dramatic results from using the DriveCam program, achieving reductions in collisions of 50 percent and higher due to the program's ability to improve driving habits and prevent collisions. Safer driving also positively impacts maintenance expenses, fuel economy and company image. As of May 20, 200404, more than 10,000 vehicles have been outfitted and protected by DriveCam.
About DriveCam Video Systems
DriveCam Video Systems develops fleet safety technology that improves driving performance and lowers operating costs. Based in San Diego, the company's Driving Feedback System combines video technology and management software to reduce the cost of poor driving. By changing driving behavior, the Driving Feedback System has lowered annual accident rates by 35% to 70%. When accidents occur, DriveCam recordings provide unbiased evidence to determine fault and expose fraudulent insurance claims. Used by thousands of commercial vehicles, the Driving Feedback system has been endorsed by the insurance industry as an effective loss control system. Additional information is available at www.drivecam.com.