DSG Global Gives New Financial Insights to 2017 Growth
SURREY, BC and LOS ANGELES, CA–(Marketwired – June 08, 2017) – DSG GLOBAL INC. (OTCQB: DSGT), best known for its advanced GPS TAG System for golf fleet management, announces 2017 guidance. The company expects to do more than three times 2016 full year sales of $1.17 MM during 2017.
“2016 was a rebuilding year for us. In 2017 we have already started to see the benefits of our 2016 restructuring,” commented Bob Silzer, DSG Global President and CEO. “Our increase in sales in the UK and European market over last 90 days has been remarkable. We have introduced expanded product lines and will continue growing our sales at a rapid rate throughout the year. The company expects to fulfill its sizeable pipeline and backlog of installations during the remainder of 2017. This should result in revenue of $3+ MM for the remaining three quarters of the year.”
“It’s no surprise that we continue growing market share at a rapid pace and producing record breaking sales numbers to start 2017. Our current sales pipeline is the strongest it’s been in 5 years. I believe our sales and deep pipeline are a direct result and testament of DSG’s system reliability, commitment to service and support, ease of use, robust extended life waterproof design, universal fit to any make model of golf car or vehicle, and our ‘Custom Fit’ program designed to tailor fit DSG hardware, software, and finances to the course’s needs,” said Patrick J Parenti Sr. Vice President Global Sales.
So far in 2017, the company has reduced COGS by 30% and operating costs by 35% from a year ago. Gross profits are expected to be in excess of 65%, up from 56% in 2016 and the company expects to be cash flow positive in Q4 2017.
The company transitioned to new innovative technologies and other operating efficiencies along with growth in revenue and profit margins. DSG Global expects to shift to operational profitability during the next 4-6 months, a significant improvement over the $2.3 MM lost in 2016.
“We look forward to continuing to deliver the financial metrics that are important to management and investors alike, as we focus on building shareholder value. The company is poised to continue this growth into 2018 and beyond because of the new and improved sales via our product line-up, the electric 3 wheel golf car being marketed through the exciting high margin PAY 4 PLAY program, and various new marketing platforms. During the next forty five days, the company plans to install its TAG systems on six to eight golf courses. DSG Global foresees becoming the leader in fleet management industry for golf courses and other industries where tracking moving vehicles and communicating with them in real time is imperative. We can track anything that moves,” concluded Silzer.
DSG Global Inc. manufactures and markets a range of proprietary technology solutions specifically tailored to golf course operations. Learn more about DSGT at http://www.dsgtag.com.
About DSG Global Inc.
DSG Global Inc. (DSGT) provides patented electronic tracking systems and fleet management solutions to golf courses that allow for remote management of the course’s fleet of golf carts, turf equipment and utility vehicles. Their clients use DSGT’s unique technology to significantly reduce operational costs, increase safety, and enhance customer satisfaction. DSGT has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over 15,000 vehicles on more than 250 courses worldwide. DSGT is now aggressively branching into several new streams of revenue, through programmatic advertising, licensing and distribution. DSGT is also expanding into Commercial Fleet Management, RAPTOR SINGLE RIDER GOLF CAR, 100E FULLY LOADED MULLEN GOLF CARS, 2 and 4 seaters and Agricultural applications.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements in this press release include statements relating to the Company’s corporate finance and other strategic initiatives, and the Company’s expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in these new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 12, 2015. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
Investor Relations DSG Global Inc.
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