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): May 15, 2007
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Digital Recorders, Inc.
(Exact Name of Registrant as Specified in Its Charter)
North Carolina 1-13408 56-1362926
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
5949 Sherry Lane, Suite 1050, Dallas, Texas 75225
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (214) 378-8992
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:
[ ] 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 May 15, 2007, Digital Recorders, Inc. announced in a press release that
it posted a net loss of 8 cents per share on $12.2 million in sales in the first
quarter 2007, as compared to a net loss of 9 cents per share on $11.1 million in
sales in the same period last year.
The Company also announced that it had filed with the Securities and
Exchange Commission ("SEC") its Quarterly Report on Form 10-Q for the period
ended March 31, 2007.
The Company also announced its outlook for second quarter 2007 and fiscal
year 2007.
The Company also stated that the DRI Annual Meeting of Shareholders will
take place June 13, 2007, at the Hilton Raleigh-Durham Airport at Research
Triangle Park, located at 4810 Old Page Road in Research Triangle Park, N.C.
Registration and continental breakfast will begin at 9:30 a.m. (Eastern) and the
business meeting will begin at 10 a.m. (Eastern). Shareholders of record at the
close of business on April 25, 2007, are entitled to receive notice of, and to
vote at, the Annual Meeting and any adjournment thereof.
The Company also announced that, on or about August 14, 2007, it expects
to: (1) file with the SEC a Form 10-Q for second quarter 2007; and (2)
distribute additional comments, including income statement and balance sheet
data, in a separate news release.
A copy of the Company's press release is attached hereto as Exhibit 99.1
and is incorporated herein by reference. This Form 8-K and the attached exhibit
are furnished to, but not filed with, the Securities and Exchange Commission.
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 May 15, 2007.
Signature(s)
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.
DIGITAL RECORDERS, INC.
Date: May 15, 2007 By: /s/ STEPHEN P. SLAY
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Stephen P. Slay
Vice President, Chief Financial Officer,
Secretary and Treasurer
INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
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99.1 Press release dated May 15, 2007.