Exhibit 99.1
 
For Immediate Release

DIGITAL ALLY, INC. ANNOUNCES 2012
OPERATING RESULTS

GROSS PROFIT MARGIN IMPROVES TO 54% VERSUS 45% IN
PREVIOUS YEAR

LENEXA, Kansas (March 26, 2013)
– Digital Ally, Inc. (Nasdaq: DGLY), which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial applications, today announced its operating results for the year and quarter ended December 31, 2012.  An investor conference call is scheduled for 11:15 a.m. EDT tomorrow, March 27, 2013 (see details below).

FY2012 Highlights:

  
FY2012 revenue totaled $17.6 million, compared with $19.6 million in the previous year.
  
Gross profit margin improved to 54% of revenue in FY2012 vs. 45% in FY2011.
  
Total SG&A expenses declined 10% in the most recent year when compared with the previous year.
  
The Company incurred certain non-recurring expenses during the fourth quarter of 2012, including costs related to the consolidation of its operations into a new facility and expenses related to the discontinuation of certain early version digital video mirror systems.
  
The Company recorded a net loss of approximately ($2.0 million) in FY2012, which represented a 50% improvement relative to a FY2011 net loss of approximately ($4.0 million).
 
New products introduced since the third quarter of FY2010 generated 13% of product sales in FY2012 vs. 8% of total sales in FY2011.
  
International revenue decreased to approximately $1.0 million in FY2012 (6% of total revenue), compared with approximately $2.0 million (10% of total revenue) in the previous year.
  
During FY2012, the Company began to realize meaningful benefits from the reorganization of (1) its manufacturing operations to more effectively outsource component parts production and (2) its law enforcement sales force.
  
The Company ended FY2012 with available unrestricted cash of $703,000 and restricted cash of $662,000 on its balance sheet.
 
The Company implemented a reverse stock split in the third quarter of FY2012 in order to remain listed on Nasdaq.

“The year ended December 31, 2012 was marked by tremendous progress in terms of improving our Company’s production efficiencies and reducing the level of revenue required for profitability,” stated Stanton E. Ross, Chief Executive Officer of Digital Ally, Inc.  “Our ability to achieve these goals was particularly impressive in light of a challenging economic environment, which has negatively impacted state, county and municipal government budgets that fund the law enforcement agencies that represent our primary customer base.  Gross profit margins improved significantly, from 45% in 2011 to 54% in 2012, as we realized benefits from improved outsourcing of components and other supplier cost reduction initiatives.  We also reduced our corporate and manufacturing overhead substantially and reorganized our law enforcement products sales force in a manner that more effectively ties the compensation of our sales personnel to relevant performance metrics.  The overall benefit from these actions was evident in a 50% reduction in our net loss for 2012 on revenue that was 10% lower than 2011 levels.”

“We believe Digital Ally is well-positioned to leverage its more cost-effective infrastructure and outsourcing capabilities into a restoration of profitability with even modest growth in revenue.  The new products that we have introduced during the past 30 months are gaining acceptance in the marketplace, and such products accounted for 13% of our sales in 2012, compared with 8% in the previous year.  Our sales initiatives outside the law enforcement industry are also beginning to bear fruit, as illustrated by our recent receipt of an order from the largest near-airport parking company in the United States to complete the deployment of 344 DVM-250Plus commercial event recorders.  Our goal is to make further inroads with commercial customers in a number of industries during the current year.”

 
 
 

The following information was filed by Digital Ally Inc (DGLY) on Wednesday, March 27, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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