For more than a decade we have provided services to branches of the U.S.
is a homeland security technology service provider of fully integrated vehicle upfitting and installation services, rugged computer and video technology and automated traffic safety solutions geared towards mission critical operations. I believe that because of the technical advantage and reputable customer service that Brekford possesses, we will be positioned to compete with the leaders of the automatic traffic enforcement services within a relatively short time."īrekford Corp. Brekford has been awarded automatic traffic enforcement contracts by several municipalities during the past several months and the implementation of these contracts we anticipate will bring added revenues and profitability to the Company beginning this quarter. Brechin also stated, "Brekford's automated photo enforcement program was implemented during December 2010, and the Company is starting to see a fresh stream of revenues from this newly introduced program. Brekford's new division is now assisting budget strapped municipalities in providing turn-key (violator funded programs) by which municipalities are witnessing positive cash flow without unduly taxing its law abiding residents." However, despite the difficult economy with budget cutbacks, I am very pleased to report that Brekford has managed to achieve a positive net income for the year. We have also self funded an entire new division of the company (Automated Traffic Enforcement Group), kept the company debt free and continue to provide superior quality equipment and services to public safety agencies. Brechin, Chief Executive Officer of the company, commented, "2010 was a challenging year for the Company due to the budget cutbacks suffered by the federal, state and local governments. The Company's cash position as of the end of 2010 remains positive at $1.5 million.Ĭ.B. The gross profit for 2010 was $1.9 million compared to $2.6 million for 2009.įor the year ended December 31, 2010, the Company reported net sales totaling approximately $11.6 million, a decrease of $3.0 million from 2009. The decrease in net income was primarily due to lower revenues in 2010 due to budget cuts and continued tightening of expenditures by federal, state and local governments in 2010. The decrease was primarily due to tighter controls and cost cutting measures implemented by management. The Company's operating expenses for 2010 were $1.8 million compared to $2.0 million for 2009.
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