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EX-99.1 - EXHIBIT 99.1 - DRI CORPa6686511ex99-1.htm



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 15, 2011

DRI Corporation
(Exact Name of Registrant as Specified in Charter)

North Carolina

000-28539

56-1362926

(State or Other Jurisdiction

of Incorporation)

(Commission File

Number)

(IRS Employer Identification No.)

 

13760 Noel Road, Suite 830
Dallas, Texas
(Address of Principal Executive Offices)
  75240
(Zip Code)

Registrant’s telephone number, including area code: (214) 378-8992

Not Applicable.
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




ITEM 2.02   Results of Operations and Financial Condition.

          On April 15, 2011, DRI Corporation announced in a press release that it posted net sales of $87.3 million and a net loss of $2.4 million, or 20 cents per basic and diluted common share outstanding, for its fiscal year ended Dec. 31, 2010.  The results compare to net sales of $82.3 million and net income of $1.5 million, or 13 cents per basic and diluted common share outstanding, for fiscal year 2009.

          In the same press release, the Company discussed the impact of the global economic slowdown on its served markets and operations; the reauthorization of U.S. funding for public transportation; management’s fiscal year 2011 outlook; and the Board of Directors’ assessment of strategic alternatives for enhancing shareholder value.

          Further, the Company announced in the same press release that management will discuss fiscal year 2010 results during an investors’ conference call April 18, 2011, at 10:30 a.m. (Eastern).  To participate in the live conference call, dial one of the following telephone numbers approximately five minutes prior to the start time: domestic, (800) 853-3895; or international, (334) 323-7224.  The passcode is “DRI.” Telephone replay will be available through June 30, 2011, via the following telephone numbers: domestic, (877) 870-5176; or international, (858) 384-5517.  The replay pin number is 13032. To participate via webcast, go to http://viavid.net/dce.aspx?sid=00008486.  The webcast will be archived until June 30, 2011.

ITEM 7.01   Regulation FD Disclosure.

          The Company incorporates by reference the information included in Item 2.02 and Item 9.01 of this Form 8-K. This Form 8-K and the attached exhibit are furnished to, but not filed with, the Securities and Exchange Commission.

ITEM 9.01   Financial Statements and Exhibits.

(a)      Exhibits.

99.1      Press release dated April 15, 2011.




SIGNATURE

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:

April 15, 2011

DRI CORPORATION

 

 

 

 

By:

/s/ Kathleen B. Oher  

Kathleen B. Oher

Vice President, Chief Financial Officer, Secretary and Treasurer