Digital Ally: You've got a friend

When red-and-blue flashing lights appear in your rear-view mirror, chances are that an image of your vehicle is being relayed from the patrol car into law enforcement’s computers.

Law enforcement is dangerous work, and products from Digital Ally, Inc. (Nasdaq:DGLY) could revolutionize the systems that help protect the officers and the citizens they protect and serve.

The Overland Park, Kan., company has come a long way within an extraordinarily short period. So far, two analysts have initiated coverage, with both saying it’s time to buy and expecting the current share price of around $9 to double by next year. Shares of Digital Ally, which began trading over-the-counter in May 2007 at $2.25, closed Tuesday at $8.88.

Digital Ally began in 2003 as Trophy Tech, a maker of bow-hunting products that included video-recording systems. The business plan changed in 2004 to bring its video system to law enforcement. Products began shipping in March 2006.

State-of-the-art public safety vehicles are rolling data points but space is at a premium. In this space race, Digital Ally is winning.

The first product was a compact solid-state video recording system that replaces any rearview mirror — a competitive advantage — with cameras monitoring the windshield and rear seat. Data is transmitted wirelessly. The potential market is huge around the world and at $3,995, Digital Ally says its units cost $1,500 . . .

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