Digital Ally Inc. Opens Higher On News Of $300,000 Order

Digital Ally Inc.

obtained an order Monday worth more than $300,000 from the police department in the San Francisco area for its body mounted camera system. Digital Ally gained nearly 8 percent in early in Monday's session, trading at $15.59 a share. The Lexana, Kans.-based company said delivery of the contract for 110 cameras and related gear is expected in the second quarter. Chief Executive Stanton E. Ross called the order "particularly notable" because it includes the first significant sale of the company's cloud-based technology for evidence management and storage. A five-year license for the technology, called VuVault.NET., is part of the order and will generate recurring revenue for Digital Ally, Ross said. Additional terms weren't disclosed. Digital Ally, with a market capitalization of about $40.6 million, posted a net loss of $990,000 on revenue of $3.45 million in the quarter ended June 30