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DirectView Achieves Record Sales and Gross Profit During 1st Half 2018, Reaffirms Positive Outlook, and Continues Investments in Technology for Future Growth

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DirectView Achieves Record Sales and Gross Profit During 1st Half 2018, Reaffirms Positive Outlook, and Continues Investments in Technology for Future Growth

Virtual Surveillance and ApexCCTV Acquisition Completed and Fully Integrated, Driving Growth as Business Transformation Continues

PR Newswire

NEW YORK, August 20, 2018 /PRNewswire/ --

DirectView Holdings, Inc., (OTC: DIRV) ("DirectView" or the "Company"), a company focused on ownership and management of leading video and security technology companies, announced today that the Company achieved record sales and gross profit during the six months ended June 30, 2018.

DirectView's record results reflect the completed integration of the Virtual Surveillance and ApexCCTV acquisitions (which closed during the 2nd quarter of 2017). Record results are also attributed to several sizable new and existing contracts.

First Half 2018 Results 

  • 70% sales growth to a record $2.3 million
  • 73% growth in product sales to a record $1.9 million
  • 57% growth in services sales to a record $0.4 million
  • 37% gross profit growth to a record $1.0 million
  • 64% growth in product gross profit to a record $0.9 million
  • 185% increase in SG&A

Sales and gross profit expanded significantly during the first half of 2018, reflecting strong DirectView product and services demand. SG&A reflects on-going investments in technology and additional customer-facing headcount.

Roger Ralston, DirectView's CEO, stated: "DirectView's first half of 2018 performance generated the highest sales and profits of any period in our history. As we continue our technology and acquisition investments, we realize significant adoption and scale will take time. The results speak for themselves and we remain laser focused and bullish on our strategy."

Recent Business Highlights Drive Future Growth 

New Orders for School Security and Surveillance - Announced on August 8, 2018, DirectView has received orders from a Texas college and prestigious New York City private school or DirectView's advanced surveillance cameras, both covert and overt, as well as entry access control camera solutions.

New Company Wide Master Agreement to Service Mission Foods Facilities, a $3.7B Leader in the Global Food Production Space - Announced on July 30, 2018, DirectView is expected to realize 7-digit revenue under the Master Agreement to install comprehensive security solutions of all security surveillance equipment, access control, and related infrastructure, in addition to multiyear support and service contracts.

New Contract with $3.7B Leader in the Global Food Production Space - Announced on July 10, 2018, DirectView has secured a new contract worth approximately $475,000 for the security management for several large production plants with 24/7 operating schedules.

Technology Investment Update 

DirectView recently completed the first investment phase of its relaunched ApexCCTV.com e-commerce surveillance product website. Taking several months to complete with an investment of over $100,000, ApexCCTV.com is the one-stop-shop for all things surveillance and security, catering to everyone from the most seasoned installers and resellers to the home do-it-yourselfer. With products and services that will meet nearly any surveillance and security need, ApexCCTV.com continues to evolve to include thousands of products while providing information and training videos in the surveillance space.  

Mr. Ralston added: "Investments of this magnitude take time to deploy, and once deployed, take time to assess their overall impact and value. In addition to the planned technology investments we are investing heavily in people and process to significantly transform our industry and customer experience. I continue to believe 2018 will generate record sales and gross profit results, further establishing our foundation for even greater future growth."

About DirectView Holdings, Inc.   

DirectView Holdings, Inc., ( DIRV ) together with its subsidiaries, provides video surveillance solutions and teleconferencing products and services to businesses and organizations. The company operates in two divisions, Security (Video Surveillance) and Video Conferencing. The Security division offers technologies in surveillance systems providing onsite and remote video and audio surveillance, digital video recording, and services. It also sells and installs surveillance systems; and sells maintenance agreements. The company sells its products and services in the United States and internationally through direct sales force, referrals, and its websites. The Video Conferencing division offers teleconferencing products and services that enable clients to conduct remote meetings by linking participants in geographically dispersed locations. It is involved in the sale of conferencing services based upon usage, the sale and installation of video equipment, and the sale of maintenance agreements. This division primarily provides conferencing products and services to numerous organizations ranging from law firms, banks, high tech companies and government organizations. For more information visit our websites at http://www.DirectView.com, http://www.ApexCCTV.com, http://www.VS-US.com and connect with us on Twitter, LinkedIn, Facebook, and Google+.

Cautionary Statement Regarding Forward Looking Statements 

Forward Looking Statements: This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in our filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

DirectView Holdings, Inc.

Roger Ralston

+1-212-858-9100 EXT. 111

IR@DirectView.com

http://www.DirectView.com

SOURCE DirectView Holdings, Inc.

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