Digital Ally (DGLY) Corrects FY15 Revenue Outlook
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November 13, 2015 6:33 AM EST
Roth Capital downgraded Digital Ally (NASDAQ: DGLY) from Buy to Neutral with a price target of $7.00 (from $16.00) following disappointing Q1 results.
Analyst William Gibson commented, "Digital Ally didn't turn profitable as we expected; the quarter was disappointing in revenue, profit margins and more production... More
November 11, 2015 4:35 PM EST
Digital Ally (NASDAQ: DGLY) reported Q3 EPS of ($0.32), $0.37 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $5.1 million versus the consensus estimate of $6.75 million.
The Company shipped seven orders in excess of $100,000 each during the most recent quarter, for a total of $1.3 million, compared with two individual orders exceeding $100,000 each in the year-earlier quarter. The Company's average order size increased to approximately $3,185 for in the third quarter of 2015, from $2,760 in the prior-year quarter.
Management Comments
"Although third quarter revenues were higher than... More
