SOURCE: Duos Technologies Group, Inc.

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June 01, 2016 08:00 ET

Duos Technologies IT Services Receives Major Contract Expansion

Increased Scope Includes Audit of up to 50 Domestic Data Centers of International Mobile Operator

JACKSONVILLE, FL--(Marketwired - June 01, 2016) -  Duos Technologies Group, Inc. (OTCQB: DUOT), a provider of intelligent security analytical technology solutions, announced today that it has been awarded additional business by one of its strategic partners to provide data center audit services for an international mobile telecommunications operator. The project is expected to extend into the first quarter of 2017 and is expected to generate up to $1million in revenue in 2016. The services will be delivered by Duos Technologies' IT Infrastructure Services Division utilizing its patented data center audit methodology and a module of its proprietary centraco™ system.

"Our partner informed us about this significant scope expansion of work for this contract which is attributed to our efficiency in conducting the audits and the professionalism of our staff," said Joe Coschera, Duos Technologies Group Senior VP of IT Services. The data collection and analysis methodologies in conjunction with well proven software systems supporting the process, deliver measurable intelligence on large data center infrastructures. Mr. Coschera went on to say, "Our patented process and mobile audit software solution ensures timely completion and accurate deliverables to our clients and I believe this is the reason that we have been awarded a significant expansion in scope. We have successfully completed IT asset inventory audits for many Fortune 500 and Fortune 100 companies in scores of data centers with accuracy levels exceeding 99%."

Duos Technologies Group, IT infrastructure services division focuses on bringing products and services to support the largest Data Centers with their Data Center Infrastructure Management ("DCIM") implementations. The division has delivered data collection and audit services via its partners for most of the major telco operators. Adrian Goldfarb, CFO of Duos Technologies Group, has corporate responsibility for the IT infrastructure services division. "I am delighted that our partner recognized the professionalism of our implementation teams and the ability in conjunction with our technology to deliver results that exceeded customer expectations. I look forward to expanding our relationship well into the future," he commented.

About Duos Technologies Group Inc.

Duos Technologies Group, Inc. (OTCQB: DUOT), based in Jacksonville, FL, through its wholly owned subsidiary, Duos Technologies Inc., provides intelligent security analytical technology solutions with a strong portfolio of intellectual property. Duos Technologies' core competencies include advanced intelligent technologies that are delivered through its proprietary integrated enterprise command and control platform, centraco™. The Company provides its broad range of technology solutions with an emphasis on mission critical security, inspection and operations within the rail, utilities, petrochemical, healthcare, and hospitality sectors. Duos Technologies Group also offers IT, professional services.

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Forward Looking Statements

This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to our ability to continue growing our IT asset inventory audit business generally, market wide acceptance of the data center auditing methodologies used by us, acceptance of referrals for equipment remarketing by our customers, continued revenue generation from our partners including up to $1m in anticipated revenue in 2016 for this specific project and ultimate profitability to allow further research & development of new solutions for the IT asset inventory audit business, our business environment and industry trends, competitive environment, the sufficiency and availability of working capital and general changes in economic conditions and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including our Annual Report Form 10-K for the year ended December 31, 2015. Any forward-looking statement made by us herein speaks only as of the date on which it is made. We undertake no obligation to revise or update any forward-looking statement for any reason.

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