Nestor Traffic Systems Announces Speed Solution Passed Technical Examination for German Speed System Certification
PROVIDENCE, RI -- (MARKET WIRE) -- 04/06/2006 -- Nestor, Inc. (NASDAQ: NEST), the parent of Nestor Traffic Systems, Inc., a leading provider of advanced traffic enforcement solutions, is pleased to announce that PoliScanSpeed™ and its scanning LiDAR (Light Detection and Ranging) speed detection technology successfully completed all technical examinations for German homologation speed system certification. Scanning LiDAR is the cornerstone of Nestor's fixed and mobile automated speed enforcement solution. The technical examination was conducted by the German Physikalisch-Technische Bundesanstalt (Physical-Technical Federal Agency). The PTB is expected to issue a formal allowance in the next four weeks.
"We are very proud of this achievement because we believe that the German certification is the toughest standard in the world for accuracy and exacting measurements," stated William B. Danzell, Chief Executive Officer of Nestor Traffic Systems. "The technical elements of the German certification are comprehensive. To pass the technical elements of the German certification, scanning LiDAR had to accurately measure thousands of moving vehicles in real-world situations, such as in congested urban environments and on the German Autobahn."
Nestor Traffic Systems provides automated traffic enforcement solutions to state and municipal governments. Nestor Traffic Systems is the exclusive North American distributor for Vitronic's PoliScanSpeed™, the industry's only scanning LiDAR, capable of tracking multiple vehicles in multiple lanes simultaneously. CrossingGuard® uses patented multiple, time-synchronized videos to capture comprehensive evidence of red light and speed violations. In addition, CrossingGuard® offers customers a unique Collision Avoidance™ safety feature that can help prevent intersection collisions. CrossingGuard® is a registered trademark of Nestor Traffic Systems, Inc. PoliScanSpeed™ is a trademark of Vitronic. For more information, call (401) 274-5658 or visit www.nestor.com.
Statements in this press release about future expectations, plans and prospects for Nestor, including statements containing the words "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. We may not achieve the plans, intentions or expectations disclosed in our forward-looking statements and investors should not place undue reliance on our forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including: the accounting issues addressed in our Current Report on Form 8-K filed with the SEC on December 5, 2005, market acceptance of our products, competition, patent protection of our technology, and other factors discussed in Risk Factors That May Affect Our Results in our most recent Quarterly Report on Form 10-Q filed with the SEC. Investors are advised to read Nestor's Annual Report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed after our most recent annual or quarterly report. The forward-looking statements included in this press release represent our current views and we specifically disclaim any obligation to update these forward-looking statements in the future.
SOURCE: Nestor, Inc.