Calvert County, Maryland, has been working with Brekford Corporation (OTCQX: BFDI), a company in the business of producing and commercializing state-of-the-art public safety technology and automated traffic enforcement solutions for a variety of industries, including the military, U.S. government, and municipalities, among others. The arrangement was put in place in order for Brekford to provide and maintain traffic cameras now placed outside of schools and other facilities.
Since the new installments were put in place, Calvert County has completed the warning period and begun issuing violation notices. Brekford has deployed its seventh red light enforcement system in New Rochelle, New York. Twelve of these photo enforcement systems have been approved by the State of New York with approximately 40 approaches. Brekford is responsible for working with New Rochelle representatives to provide complete coverage in the coming months.
Looking further afield, the company terminated an exclusive distribution agreement with its Mexico-based partner, but started discussing the potential for a direct agreement with the city of Saltillo, Mexico. Other cities in Mexico have shown an interest in implementing photo enforcement programs using the company’s technology. BFDI also recently won competitive solicitation with a federal agency for a five-year contract.
In addition, in May of this year, BFDI announced that it filed a provisional patent application with the United States Patent and Trademark Office (USPTO) regarding technologies associated with the automated detection and photo enforcement of electronic distracted driving violations. The company is continuing to explore a variety of methods that could further enhance traffic safety across the areas it serves.
Following this, Brekford Corp. announced its financial results for the third quarter of 2016 (http://dtn.fm/cgKa3), reporting a gross profit margin increase to 22.9%, as compared to 15.4% in the same period of the previous year. The gross margin of the company’s ATSE (automated traffic safety enforcement) services products area increased by approximately 8%, and vehicle services gross margin nearly doubled since last year. Despite overall loss having increased by approximately $20,000, operating expenses decreased by $60,000 this year, and operating income increased from $6,350 in 2015 to $56,523 in 2016.
For more information, visit the company’s website at www.brekford.com
