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DriveCam Video Systems Reports Q1 2004 Revenue Growth; Surpasses 10,000 Units Installed

June 15, 2004

DriveCam Video Systems, a developer of fleet safety technology that improves driving behavior, announced on June 8 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. DriveCam's Driving Feedback System 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. As of May 2004, more than 10,000 vehicles have been outfitted and protected by DriveCam.
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