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Track Group Reports 3rd Quarter Fiscal 2020 Financial Results

By News, Quarterly Reports

NAPERVILLE, ILLINOIS, August 6, 2020 – Track Group, Inc. (OTCQX: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its third quarter ended June 30, 2020 (the “Q3 FY20”). In Q3 FY20, the Company posted (i) total revenue of $8.5M, down 5% from $9.0M in the third quarter last year due to device sales used to establish a large Latin American reseller in 2019; however, monitoring revenue which comprises the substantial majority of total revenue was $8.3M in Q3 FY20, an increase of approximately 5% over the same period last year , (ii) operating income of $1.0M representing an increase of 59% compared to operating income of $0.6M for the quarter ended June 30, 2019 (“Q3 FY19”), (ii) adjusted EBITDA of $2.3M, up 17% compared to $1.9M for Q3 FY19, and (iv) a net income attributable to common shareholders of $0.4M compared to a net loss of $0.1M for the same period last year.


Financial Highlights

  • Total revenue of $8.5M for the Q3 FY20 and $25.0M for the nine months ended June 30, 2020 (“9M FY20”), are down 5% and 1%, respectively, compared to Q3 FY19 and the nine months ended June 30, 2019 (“9M FY19”) due to a decline in device sales. Quarterly monitoring revenue which comprises the substantial majority of total revenue was $8.33M in Q3 FY20, up 5% over Q3 FY19 monitoring revenue of $7.90M. Monitoring revenue for the 9M FY20 was $24.6M, up approximately 3% compared to monitoring revenue of $23.8M for the 9M FY19.
  • Quarterly gross profit of $4.6M in Q3 FY20 was down 4% vs. Q3 FY19 gross profit of $4.8M but up 4% over Q2 FY20 gross profit of $4.4M. Gross profit for the 9M FY20 was $13.7 million, or down 1% compared to gross profit of $13.9 million for the 9M FY19.
  • Total operating expense for Q3 FY20 of $3.6M is down 13% versus Q3 FY19’s $4.2M of total operating expense. The reduction in quarterly operating expense when combined with Q3 FY20 gross profit of $4.6M led to Q3 FY20 quarterly operating income of $1.0M, which is an improvement of 59% compared to the $0.6M operating profit for Q3 FY19. For the 9M FY20, operating income was $1.6M compared to operating income of $0.3M for the nine-month period in FY19, representing an improvement of over 400%.
  • Adjusted EBITDA for the Q3 FY20 finished at $2.3M, up 17%, compared to $1.9M for Q3 FY19. Adjusted EBITDA for the 9M FY20 was $5.7M, up approximately 7% vs $5.3M for the nine-month period in FY19.
  • Cash balance of $9.0M for Q3 FY20, up 31% compared to $6.9M for Q3 FY19 and up 17% over the March 31, 2020 cash balance of $7.7M.
  • Net income attributable to shareholders in Q3 FY20 was $0.4M compared to a net loss of $0.1M in Q3 FY19, a change principally attributable to the Company’s strong operating performance and exchange rate gains as the US dollar strengthened against the Chilean peso. The net loss attributable to shareholders for the 9M FY20 was $1.5 million compared to a net loss of $2.1 million in the nine-month period in FY19.

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Track Group Reports 2nd Quarter Fiscal 2020 Financial Results

By News, Quarterly Reports

NAPERVILLE, ILLINOIS, May 7, 2020 – Track Group, Inc. (OTCQX: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its second quarter ended March 31, 2020 (the “Q2 FY20”). In Q2 FY20, the Company posted (i) revenue of $8.1 million (“M”), an increase of approximately 1% over the same period last year, (ii) operating income of $0.2M representing an increase of 186% compared to an operating loss of $0.3M for the quarter ended March 31, 2019 (“Q2 FY19”), which also led to a cash balance of $7.7M, up 36% compared to $5.7M for the same period one year ago, (iii) adjusted EBITDA of $1.6M, flat to Q2 FY19, and (iv) a net loss attributable to common shareholders of $1.7M compared to a net loss of $0.3M for the same period last year, largely due to non-cash foreign exchange fluctuations.

“Our Company, our customers, our supply partners and our employees have all performed extremely well despite facing unprecedented challenges over the past 2 1⁄2 months brought on by the Coronavirus,” said Derek Cassell, Track Group’s CEO. “I am proud to work with all of these people and remain confident that together, if we continue to work hard and communicate effectively, we have the opportunity to record even stronger results in the second half of our fiscal year.”


Financial Highlights

  • Quarterly revenue of $8.13M in Q2 FY20, up 1% over Q2 FY19 revenue of $8.09M. Revenue for the 6 months ended March 31, 2020 (“6M FY20”) of $16.6M was up approximately 2% compared to revenue of $16.3M for the 6 months ended March 31, 2019 (“6M FY19”). Revenue in Q2 FY20 and 6M FY20 was $0.4M and $0.6M lower than the same periods in FY19 due to the strengthening of the U.S. dollar against the Chilean peso.
  • Quarterly gross profit of $4.4M in Q2 FY20, down 1% over Q2 FY19 gross profit of $4.5M. Gross Profit for 6M FY20 was $9.1million, or flat compared to gross profit of $9.1 million for 6M FY19.
  • Total operating expense for Q2 FY20 of $4.2M is down 12% versus Q2 FY19’s $4.8M of operating expense. The reduction in quarterly operating expense when combined with Q2 FY20 gross profit of $4.4M led to a quarterly operating income of $237K, which is an improvement of 186% compared to the $276K operating loss for Q2 FY19. For 6M FY20, operating income was $38K compared to the operating loss for 6M FY19 of $333K, representing an improvement of approximately 261%.
  • Adjusted EBITDA for the Q2 FY20 finished at $1.6M, flat compared to $1.6M for Q2 FY19. Adjusted EBITDA for 6M FY20 of $3.4M, up approximately 2% vs $3.3M for 6M FY19.
  • Cash balance of $7.7M for Q2 FY20, up 36% compared to $5.7M for Q2 FY19 and down 10% over the December 31, 2019 cash balance of $8.5M.
  • Net loss attributable to shareholders in the Q2 FY20 was $1.7M compared to a net loss of $0.3M in Q2 FY19, a change principally attributable to the non-cash impact of the volatility of the US dollar as compared to the Chilean peso. The net loss attributable to shareholders for the 6M FY20 was $2.0 million compared to a net loss of $2.0 million in 6M FY19.

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Track Group Reports 1st Quarter Fiscal 2020 Financial Results

By News, Quarterly Reports

NAPERVILLE, ILLINOIS, February 13, 2020 – Track Group, Inc. (OTCQX: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its first quarter ended December 31, 2019 (the “First Quarter FY20”). The Company posted (i) revenue of $8.4M, an increase of 3% over the same period last year, (ii) operating income of $0.3M compared to an operating loss of $0.1M in First Quarter FY19, (iii) Adjusted EBITDA of $1.8M, up 3% compared to First Quarter FY19, and (iv) a cash balance at December 31, 2019 of $8.5M, representing an increase of 23% over September 30, 2019.

“We are pleased to kick off our new fiscal year with a strong first quarter that ended December 31, 2019 with revenue growth of nearly 3%, which is commendable given the impact of the strengthening of the US dollar and the subsequent reduction in revenue caused by the translation of our significant Chilean peso revenue into US dollars”, said Derek Cassell, Track Group’s CEO.

Financial Highlights

  • Strong quarterly revenue of $8.4M in First Quarter FY20, up 3% over First Quarter FY19 of $8.2M.
  • Favorable quarterly gross profit of $4.7M in First Quarter FY20, up 1% over First Quarter FY19 of $4.6M.
  • Total operating expense for the First Quarter FY20 of $4.4M is down 7 % versus First Quarter FY19’s
    $4.7M of operating expense. The decline in quarterly operating expense when combined with a favorable quarterly gross profit led to Operating Income of $301K, which is a dramatic improvement of over 600% compared to a quarterly loss of $57K in the First Quarter FY19.
  • Adjusted EBITDA in the First Quarter FY20 finished at $1.8M, up 3% compared to $1.7M for First Quarter FY2019.
  • Cash balance of $8.5M for First Quarter FY20, up 23% compared to $6.9M at September 30, 2019.
  • Net loss attributable to shareholders for First Quarter FY20 of ($0.2M) compared to a net loss attributable to shareholders in the First Quarter FY2019 of ($1.7M), representing an improvement of 87%.

FULL ARTICLE >

Track Group Reports Fiscal 2019 Financial Results

By News, Quarterly Reports

NAPERVILLE, ILLINOIS, January 13, 2020 – Track Group, Inc. (OTCQX: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its fiscal year ended September 30, 2019 (the “FY19”). In FY19, the Company posted (i) record revenue of $34.0M, an increase of 11% over the fiscal year ended September 30, 2018 (the “FY18”), (ii) record operating income of $1.2M compared to an operating loss of $1.7M for FY18, (iii) adjusted EBITDA of $7.4M, up 27% compared to FY18, and (iv) a cash balance at September 30, 2019 of $6.9M, representing an increase of 27% over September 30, 2018 as well as the highest balance since September 2014.

“It was an outstanding year for Track Group, our employees and our customers.” said Derek Cassell, Track Group’s CEO. “I look forward to the next year with a tremendous amount of momentum and enthusiasm.”

Financial Highlights

  • Revenue for FY19 was $34.0M, up approximately 11% compared to revenue of $30.6M for FY18. Quarterly revenue of $8.8M in Q4 FY19, up 8% over Q4 FY18 of $8.1M.
  • Gross Profit for FY19 was $19.0 million, up 11% compared to Gross Profit of $17.2 million for FY18. Quarterly gross profit of $5.1M in Q4 FY19, up 13% over Q4 FY18 of $4.5M.
  • Total operating expense for FY19 of $17.9M is down 5% versus FY18’s $18.9M of operating expenses. The drop in operating expen se when combined with FY19 gross profit of $19.0M led to the highest annual operating income in the Company’s history of $1.2M, which is a dramatic turnaround of 171% compared to the $1.7M operating loss for FY18.
  • Adjusted EBITDA for FY19 finished at $7.4M, up 27% compared to $5.9M for FY18.
  • The cash balance of $6.9M at September 30, 2019 is up 27% compared to a balance of $5.4M at September 30, 2018 and up less than 1% over the June 30, 2019 cash balance of $6.9M and the highest level in nearly five years.
  • The Net loss attributable to common shareholders for FY19 was $2.6M compared to a net loss of $5.4M in FY18, an improvement of approximately 53%.

FULL ARTICLE >

Track Group Reports 3rd Quarter Fiscal 2019 Financial Results

By News, Quarterly Reports

NAPERVILLE, ILLINOIS – Track Group, Inc. (OTCQX: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its third quarter ended June 30, 2019 (the “Q3 FY19”). In Q3 FY19, the Company posted (i) record revenue of $9.0M, an increase of 17% over the same period last year, (ii) record operating income of $0.6M compared to an operating loss of $0.7M for the quarter ended June 30, 2018 (“Q3 FY18”), (iii) adjusted EBITDA of $1.9M, up 67% compared to Q3 FY18, and (iv) a cash balance at June 30, 2019 of $6.9M, representing an increase of 26% over September 30, 2018 and up 21% compared to March 31, 2019 as well as the highest balance since September 2014.

“For our quarter ended June 30, 2019, I am proud that Track Group generated the highest ever quarterly revenue, gross profit, and operating income in the Company’s history,” said Derek Cassell, Track Group’s CEO. “I would like to thank our employees, customers and partners for all of their efforts in making this happen.”

Financial Highlights

  • Quarterly revenue of $9.0M in Q3 FY19, up 17% over Q3 FY18 of $7.7M. Revenue for the 9 months ended June 30, 2019 (“9M FY19”) of $25.3M was up approximately 12% compared to revenue of $22.5M for the 9 months ended June 30, 2018 (“9M FY18”).
  • Quarterly gross profit of $4.8M in Q3 FY19, up 14% over Q3 FY18 of $4.2M. Gross Profit for 9M FY19 was $13.9 million, up 10% compared to Gross Profit of $12.7 million for 9M FY18.
  • Total operating expense for Q3 FY19 of $4.2M is down 16% versus Q3 FY18’s $4.9M of operating expenses. The drop in quarterly operating expense when combined with Q3 FY19 gross profit of $4.8M led to the highest quarterly operating income in the Company’s history of $640K, which is a dramatic turnaround of 187% compared to the $738K operating loss for Q3 FY18. For 9M FY19, operating income was $306K compared to loss from operations of $1,779K for 9M FY18, representing an improvement of 117%.
  • Adjusted EBITDA in the Q3 FY19 finished at $1.9M, up 67% compared to $1.2M for Q3 FY18. Adjusted EBITDA for 9M FY19 of $5.3M, up approximately 32% vs $4.0M for 9M FY18.
  • The cash balance of $6.9M at June 30, 2019 is up 26% compared to a balance of $5.4M at September 30, 2018 and up 21% over the March 31, 2019 cash balance of $5.7M and the highest level in nearly five years.
  • The Net loss attributable to common shareholders for Q3 FY19 was $0.1M compared to a net loss of $1.9M in Q3 FY18, an improvement of approximately 96%. The net loss attributable to shareholders for the 9M FY19 was $2.1 million compared to a net loss of $4.6 million in 9M FY18 representing an improvement of approximately 55%.

FULL ARTICLE

Track Group Reports 2nd Quarter Fiscal 2019 Financial Results

By News, Quarterly Reports

NAPERVILLE, ILLINOIS, May 10, 2019 – Track Group, Inc. (OTCQX: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its second quarter ended March 31, 2019 (the “Q2 FY19”). In Q2 FY19, the Company posted (i) revenue of $8.1M, an increase of 11% over the same period last year, (ii) an operating loss of $0.3M compared to an operating loss of $0.7M for the quarter ended March 31, 2018 (“Q2 FY18”), (iii) adjusted EBITDA of $1.6M, up 28% compared to Q2 FY18, and (iv) a cash balance at March 31, 2019 of $5.7M, representing an increase of 4% over September 30, 2018 and down 3% compared to December 31, 2018.

“Track Group’s first half of Fiscal 2019 produced records in revenue, gross profit, Adjusted EBITDA and active devices,” said Derek Cassell, Track Group’s CEO. “Our hard work and focus on customer service are paying off and paving the way for a record year come September 30, 2019.”

Financial Highlights

  • Quarterly revenue of $8.1M in Q2 FY19, up 11% over Q2 FY18 of $7.3M. Revenue for the 6 months ended March 31, 2019 (“6M FY19”) of $16.3M was up approximately 10% compared to revenue of $14.8M for the 6 months ended March 31, 2018 (“6M FY18”).
  • Quarterly gross profit of $4.5M in Q2 FY19, up 12% over Q2 FY18 of $4.0M. Gross Profit for 6M FY19 was $9.1million, up 7% compared to Gross Profit of $8.5 million for 6M FY18.
  • Total operating expense for Q2 FY19 of $4.77M is up nominally versus Q2 FY18’s $4.74M of operating expenses. The small jump in quarterly operating expense when combined with Q2 FY19 gross profit of $4.5M led to a quarterly loss of only $276K, which is an improvement of 61% compared to $716K operating loss for Q2 FY18. For 6M FY19, the loss from operations was $333K compared to loss from operations of $1.041M for 6M FY18, representing an improvement of approximately 68%.
  • Adjusted EBITDA in the Q2 FY19 finished at $1.6M, up 28% compared to $1.3M for Q2 FY18. Adjusted EBITDA for 6M FY19 of $3.3M, up approximately 18% vs $2.8M for 6MFY18.
  • Cash balance of $5.7M for Q2 FY19, up 113% compared to $2.7M for Q2 FY18 and down 3% over the December 31, 2018 cash balance of $5.9M.
  • Net loss attributable to shareholders in the Q2 FY19 was$0.3M compared to a net loss of $1.7M in Q2 FY18, an improvement of approximately 85%. The net loss attributable to shareholders for the 6M FY19 was $2.0 million compared to a net loss of $2.8 million in 6M FY18 representing an improvement of approximately 28%.

FULL ARTICLE >

Track Group Reports 1st Quarter Fiscal 2019 Financial Results

By News, Quarterly Reports

NAPERVILLE, ILLINOIS, February 14, 2019 – Track Group, Inc. (OTCQX: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its first quarter ended December 31, 2018 (the “First Quarter FY19”). The Company posted (i) revenue of $8.2M, an increase of 10% over the same period last year, (ii) an operating loss of only $0.1M compared to an operating loss of $0.3M in First Quarter FY18, (iii) adjusted EBITDA of $1.7M, up 10% compared to First Quarter FY18, and (iv) a cash balance at December 31, 2018 of $5.9M, representing an increase of 8% over September 30, 2018.

“We’re thrilled to report a strong start to fiscal 2019 with record highs in both revenue and gross profit in the first quarter,” said Derek Cassell, Track Group’s CEO. “With continued strengthening of our smartphone-based monitoring applications and launching of new customer relationships, we’re looking forward to an even better remainder of fiscal 2019.”

Financial Highlights

  • Record quarterly revenue of $8.2M in First Quarter FY19, up 10% over First Quarter FY18 of $7.5M.
  • Record quarterly gross profit of $4.6M in First Quarter FY19, up 4% over First Quarter FY18 of $4.5M.
  • Total operating expense for the First Quarter FY19 of $4.7M is down 2% versus First Quarter FY18’s $4.8M of operating expenses. The decline in quarterly operating expense when combined with a record quarterly gross profit led to a quarterly loss of only $57K, which is an improvement compared to $268K over the First Quarter FY18.
  • Adjusted EBITDA in the First Quarter FY19 finished at $1.7M, up 10% compared to $1.6M for First Quarter FY2018.
  • Consistent quarterly Adjusted EBITDA for the last five quarters. o Q1 of FY18 or 31 Dec 2017 Adj EBITDA = $1.6M
    • Q2 of FY18 or 31 March 2018 Adj EBITDA = $1.3M
    • Q3 of FY18 or 30 June 2018 Adj EBITDA =$1.2M
    • Q4 of FY18 or 30 Sept 2018 Adj EBITDA =$1.9M
    • Q1 of FY19 or 31 Dec 2018 Adj. EBITDA = $1.7M
  • Cash balance of $5.9M for First Quarter FY19, up 234% compared to $1.8M for First Quarter FY18.
  • Net loss attributable to shareholders in the First Quarter FY2019 was ($1.7M), an increase of 66% compared to First Quarter of FY18, but better than the Second and Third Quarters of FY18.

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Departamento de Correccion y Rehabilitacion de Puerto Rico Signs New Contract with Track Group, Inc.

By News

NAPERVILLE, IL – Track Group, Inc. (OTCQX: TRCK), a global leader in providing criminal justice agencies with offender tracking and monitoring services, announced today that the Departamento de Correccion y Rehabilitacion de Puerto Rico signed a new agreement with the Company to provide GPS Tracking products and services commencing on July 9, 2018 thru June 30, 2019; renewable for two (2) additional years.

The previous agreement signed between the Departamento de Correccion y Rehabilitacion de Puerto Rico and the Company, was solely for the GPS tracking of domestic violence offenders. Under the new agreement, Track Group will continue to monitor this offender population, but will also provide GPS tracking for the pretrial and probation populations.

“Our commitment to the Departamento de Correccion y Rehabilitacion de Puerto Rico
is the same today as it was when we began our partnership over six (6) years ago,” said Derek Cassell, Track Group’s CEO. “Which is to provide them with the most effective GPS tracking technology for their specific program needs; combined with our unparalleled customer service to help ensure compliance among the offender populations.”

For more information about this contract award or any monitoring products and services offered by Track Group, contact Matt Swando at 877-260-2010.

About Track Group (trackgrp.com)
Track Group designs, manufactures, and markets location tracking devices and develops and sells a variety of related software, services, accessories, networking solutions, and monitoring applications for the criminal justice market. The Company’s products and services are designed to empower professionals in security, law enforcement, corrections and rehabilitation organizations worldwide with single-sourced offender management solutions that integrate reliable intervention technologies to support re-socialization and monitoring initiatives.

Media Contact:
Matt Swando, Track Group
877-260-2010
matthew.swando@trackgrp.com

Track Group Reports 3rd Quarter Fiscal 2018 Financial Results

By News, Quarterly Reports

NAPERVILLE, ILLINOIS – Track Group, Inc. (OTCQX: TRCK), a global leader in offender tracking and monitoring services, today announced financial results for its third quarter ended June 30, 2018 (the “Third Quarter”). The Company posted gross profit of $4.2M, on total revenue of $7.7M, for a gross margin of 55%. In addition, the Third Quarter adjusted EBITDA came in at $1.16M.

“We’re thrilled to report record levels of active devices during our Third Quarter,” said Derek Cassell, Track Group’s CEO. “The implementation of a number of new customer opportunities combined with the record device levels positions us well for the remainder of the calendar year.”

BUSINESS AND FINANCIAL HIGHLIGHTS

  • Revenue for the Third Quarter ($7.7M) is up approximately 4% compared to the same period last year.
  • Gross Profit for the Third Quarter increased approximately 13% from last year ($4.2M vs. $3.7M) which led to Gross Profit for the 9 months ended June 30, 2018 being up 12% compared to the prior year ($12.7M vs $11.3M). As a result, gross margin for the Third Quarter and the 9 months ended June 30, 2018 was 55% and 56%, respectively, up considerably from the gross margin of 51% for both periods last year.
  • The quarterly operating loss of ($0.7M) is among the lowest in over three years, and allowed the Company to improve the 9 months ended June 30, 2018 operating loss to ($1.8M) down by 57% compared to the same period last year ($4.1M), due to a combination of a strong Gross Profit results and lower Operating Expenses.
  • Adjusted EBITDA in the Third Quarter finished at ($1.16M), which led to Adjusted EBITDA for the 9 months ended June 30, 2018 increasing 75% ($4.0M) compared to the same period last year ($2.3M).
  • Net loss, attributable to shareholders, for the 9 months ended June 30, 2018 was ($4.6M) compared to a loss of ($3.5M) for the same period last year due to a gain on settlement of a contingent liability of $3.2M in the same period last year. Without the gain on settlement of the contingent liability in 2017, loss attributable to shareholders would have been $6.7M for the 9 months ended June 30, 2017, compared to $4.6M in 2018.
  • Net Cash Provided by Operating Activities remained strong for the 9 months ended June 30, 2018 ($5.3M) compared to the same period of fiscal year 2017 ($2.9M), or up 81%.
  • On July 19, 2018, the Company and Conrent Invest S.A. (“Conrent”) agreed to extend the maturity date to the earlier of April 1, 2019 or the date upon which the principal and interest is repaid for the Amended and Restated Unsecured Facility Agreement dated June 30, 2015 between the Company and Conrent.
  • On July 23, 2018, the Company announced the introduction of BACtrack, a mobile alcohol monitoring system that integrates a smartphone app and a law enforcement-grade, handheld breathalyzer to provide breath alcohol content.

FULL ARTICLE >

Track Group, Inc. Introduces Mobile Breath Alcohol Monitoring System

By News

NAPERVILLE, IL – Track Group, Inc. (OTCQX: TRCK), a global leader in providing community corrections agencies with offender tracking and monitoring services, today announced the introduction of BACtrack, a mobile alcohol monitoring system that integrates a smartphone app and a law enforcement-grade, handheld breathalyzer to provide breath alcohol content (BAC).

“We are excited to announce the newest addition to our product portfolio,” said Derek Cassell, Track Group’s CEO. “Track Group and BACtrack, Inc. have teamed up to develop a specifically designed alcohol monitoring device for criminal justice – making it an innovative solution for corrections agencies to monitor individuals in the community who are required to abstain from alcohol as a condition of parole, probation or pretrial sentencing.”

BACtrack’s features include a law enforcement-grade fuel cell, uniquely designed mouthpiece, Bluetooth connectivity, GPS location functionality, random/scheduled or manual testing options, video verification on all tests and officer email or text notifications on missed or failed tests.

The smartphone app utilized by the participant is easy-to-use and provides testing reminders and step-by-step testing instructions. Participants are required to take a photo of themselves, which is then stored in the BACtrack software system and utilized for comparison against the breath test videos. This video verification, combined with our uniquely designed mouthpiece, minimizes the risk of testing manipulation.

“The introduction of BACtrack reflects Track Group’s continued commitment to offer the latest, application-based technology to our customers and the market,” said CEO, Derek Cassell, “and also addresses the #1 problem facing agencies with regards to mobile breathalyzers – excessive device replacement costs.”

For more information about this contract award or any monitoring products and services offered by Track Group, contact Matt Swando at 877-260-2010.

About Track Group (trackgrp.com)
Track Group designs, manufactures, and markets location tracking devices and develops and sells a variety of related software, services, accessories, networking solutions, and monitoring applications for the criminal justice market. The Company’s products and services are designed to empower professionals in security, law enforcement, corrections and rehabilitation organizations worldwide with single-sourced offender management solutions that integrate reliable intervention technologies to support re-socialization and monitoring initiatives.

Media Contact:
Matt Swando, Track Group
877-260-2010
matthew.swando@trackgrp.com