SANDY, UTAH (February 18, 2014) – SecureAlert (SCRA: OTC-US), a global tracking and electronic monitoring services company, announced that customer growth and financial performance milestones reached in the first fiscal year quarter since its successful restructuring underscore the company’s steady progress toward full recovery and its continued emergence as industry leader.
Among its accomplishments during Q1 of 2014, SecureAlert successfully reduced the amount of cash used for operations by almost $0.5 million, despite having made substantial investments in new assets and increased spending in research and development and SG&A. These investments included build-out of a new monitoring center and other start-up requirements to facilitate services related to SecureAlert’s new contract with the government of Chile. The company also introduced two new products in Q1, in addition to preparing for the upgrade of its domestic customer base to a more efficient, reliable 3G wireless telecommunications network.
SecureAlert also reported a continuation of sustained volume growth in its domestic market, which more than offset year-over-year lower average pricing resulting in better revenue and gross profit margins for the period.
“Fueled by new financing, new customers and an improved operating environment, SecureAlert is well on its way to being recognized as the industry leader that investors envisioned and that the fragmented electronic monitoring market desperately needs,” said Chairman Guy Dubois. “We continue to aggressively explore every opportunity for acquisition and to increase market position through integrated allocation of our expanding research and development resources.”
A detailed discussion of its first quarter results is included in SecureAlert’s 10-Q filed with the Securities and Exchange Commission on February 14, 2014. A copy of this report is available at www.trackgrp.com.
SecureAlert markets and deploys offender monitoring solutions that combine tracking technologies with full-time 24/7/365 monitoring and intervention capabilities. The company delivers patented offender monitoring technology that effectively integrates GPS, Radio Frequency (RF) and three-way interactive voice communications in a single, globally-deployable solution with features that are unique in the industry. SecureAlert empowers professionals in law enforcement, corrections and rehabilitation organizations with monitoring programs for juvenile and adult defendants and offenders. These programs offer convicted offenders and pre-trial defendants an accountable opportunity to be free from incarceration while providing greater public safety at lower costs than imprisonment or more labor-intensive supervision alternatives. The company is based at 150 West Civic Center Drive, Suite 400, Sandy, Utah 84070. To learn more, please call (801) 451-6141, or send an email to firstname.lastname@example.org. Visit SecureAlert online at www.securealert.com.