iSECUREtrac Corp. Reports Second Quarter Results -- Positive Shareholders' Equity and Continued Reduction in Operating Expenses
(firmenpresse) - OMAHA, NE -- (Marketwire) -- 08/15/11 -- iSECUREtrac Corp. (OTCBB: ISEC), an industry leader in electronic monitoring solutions, today released its financial results for the three months ended June 30, 2011.
Equipment and Service revenue for the six months ended June 30, 2011 was $4,918,000, down $254,000, or 4.9% from the $5,172,000 reported for the same period of 2010. The decline in Equipment and Service revenue, coupled with the $283,000 decline in Royalty revenue resulted in total revenue declining $537,000.
The Company's Cost of Revenue and Operating expenses, including Research & Development and Selling, General and Administrative declined $137,000 resulting in an increase in the Company's operating loss of $401,000.
According to President and Chief Executive Officer, Peter Michel, "The decline in Royalty revenue was as expected. The decline in Equipment and Services revenue is admittedly disappointing, however, we believe revenues have already begun to trend back up and expect the Company to be cash flow positive beginning with the quarter ending September 30, 2011. In addition, the financial restructuring announced on July 1st, 2011 which resulted in the Company reporting positive Stockholders' Equity and reducing future cash flow requirements was a major development for the Company and substantially improved the Company's competitive position and prospects for long-term success. At no other point in the Company's history has the Company had positive Stockholders' Equity, cash-flow positive operations and such little debt."
As a reminder, the year-end conference call will be held this afternoon as follows:
Time: 3:00 PM Central - 4:00 PM Eastern
Dial-in number: 1-877-941-2322
International: 1-480-629-9715
Please dial in 5-10 minutes prior to the start. An operator will request your name and organization and ask you to wait until the call begins. If you have any difficulty connecting, please call iSECUREtrac at (866) 537-0022.
A taped replay of the conference call will be available from August 15, 2011 at 6:30 PM Central until August 22, 2011 at 10:59 PM Central.
Replay number: 1-877-870-5176
International Replay number: 1-858-384-5517
Replay Pin Number: 4465936
iSECUREtrac Corp. provides electronic monitoring systems, client management software and supplemental services for use in community supervision. The company's rich stream of reliable data concerning a client's location, movement and status better enables effective compliance management and positive behavior modification. Visit for more information.
This press release contains forward-looking statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to iSECUREtrac Corp. and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly, iSECUREtrac's actual results may differ significantly from the results discussed or implied in such forward-looking statements.
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Datum: 15.08.2011 - 15:59 Uhr
Sprache: Deutsch
News-ID 46541
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OMAHA, NE
Kategorie:
Hardware
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