Surrey, British Columbia, March 06, 2019 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTC: DSGT), a leading provider of electronic tracking systems and fleet management solutions, today provided the following corporate update to shareholders.
Bob Silzer, CEO DSG Global, stated, “We are making rapid progress rolling out our fleet management solutions, including our patented GPS Golf TAG Management System and on-course media system, as illustrated by our strong top-line growth. For the third quarter of 2018, we announced a 134% year-over-year increase in sales and achieved an operating profit. More recently, we announced a record sales pipeline, in excess of $10 million, which bodes extremely well for the future. We look forward to announcing our financial results for the full year, which we expect will show continued improvement in both our revenue and overall profitability.”
“Given the traction we are gaining in the marketplace, we recently announced board approval for a reverse-split. We believe this, along with other steps underway to enhance our capital structure, will help us to attract greater institutional investor interest and helps sets the stage for a future listing on a national exchange. We believe these steps are both timely and necessary, as we have barely scratched the surface of the 40,000 golf operations worldwide, along with other fleet management opportunities. In order to meet the growing demand, we are aggressively ramping up our sales force. As a result, we are extremely encouraged by the near and long-term outlook for the business and look forward to providing further updates as we continue to execute on our growth strategy.”
About DSG Global
DSG provides patented electronic tracking systems and fleet management solutions to golf courses that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Their clients use VTS unique technology to significantly reduce operational costs, increase safety, and enhance customer satisfaction. DSGT has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over 8,000 vehicles on more than 250 courses worldwide. VANTAGE TAG SYSTEMS is now aggressively branching into several new streams of revenue, through programmatic advertising, licensing and distribution. VANTAGE TAG SYSTEMS is also expanding into Commercial Fleet Management, and Agricultural applications.
Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements in this press release include statements relating to the Company's corporate finance and other strategic initiatives, and the Company's expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in these new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 12, 2015. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
Contact:
Crescendo Communications, LLC
Tel: 212-671-1021
Email: dsgt@crescendo-ir.com
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