Duos Technologies Group, Inc. Reiterates Earnings Guidance for the Fiscal Year Ending December 31, 2021 and Provides Earnings Guidance for the Second Half of 2021
May 13, 2021 at 09:30 pm
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Duos Technologies Group, Inc. reiterated revenue guidance for the fiscal year ending December 31, 2021 and provided earnings guidance for the second half of 2021. For the fiscal year ending December 31, 2021, the company reiterating the company's previously issued guidance. The company expects total revenue to be approximately $18 million. The Company's guidance is based on contracts in backlog and near-term pending orders that are already performing or scheduled to be executed by the fourth quarter of 2021. Management also expects its operations to achieve profitability for 2021 with an improved cash liquidity position by year end.
Although uncertainties continue in the macro economic climate, management believes that 2021 will yield a much stronger financial performance for revenue and attain profitability in the second half of the year.
Duos Technologies Group, Inc., through its wholly owned subsidiary, Duos Technologies, Inc., designs, develops, deploys, and operates intelligent vision-based technology solutions using machine vision and artificial intelligence (AI) to analyze fast moving freight, passenger and transit trains and trucks streamlining operations, improving safety, and reducing costs. The Company provides solutions that automate the mechanical and security inspection of fast-moving trains, trucks, and automobiles through a broad range of hardware, software, information technology and AI. Its Railcar Inspection Portal (RIP) provides both freight and transit railroad customers and select government agencies the ability to conduct fully remote railcar inspections of trains while they are moving at full speed. It has also developed the automated logistics information system (ALIS) which automates gatehouse operations where transport trucks enter and exit large logistics and intermodal facilities.
Duos Technologies Group, Inc. Reiterates Earnings Guidance for the Fiscal Year Ending December 31, 2021 and Provides Earnings Guidance for the Second Half of 2021
DUOS TECHNOLOGIES GROUP, INC. 
