Digital Ally, Inc. (NASDAQ: DGLY) shares are trading sharply higher on Tuesday, after the company announced it has been awarded its largest contract in company history.
Digital Ally manufactures and markets advanced video recording products for law enforcement, emergency management, fleet safety and security.
The contract will include up to 5,000 body cameras for a three-year period for a national police force. The contract is expected to result in revenues exceeding $4 million.
"The award of this international contract is an important milestone for Digital Ally because the size and complexity of the deployment proves the scalability of the Company's body camera hardware and its web-based software services," said CEO Stanton E. Ross.
The stock was trading 58% higher at $1.52 at time of publication. The stock has a 52-week high of $5.33 and a 52-week low of 81 cents.