Track Group, Inc. Announces Consolidated Audited Earnings Results for the Fiscal Year Ended September 30, 2015; Provides Earnings Guidance for the Fiscal Year 2016 and 2017
December 14, 2015 at 02:00 am
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Track Group, Inc. announced consolidated audited earnings results for the fiscal year ended September 30, 2015. For the year, the company recorded total revenues of $20,792,715 compared to $12,252,198 a year ago. Loss from operations is $8,225,474 compared to $7,747,999 a year ago. Net loss before tax was $5,648,345 compared to $8,692,300 a year ago. Net loss attributable to common shareholders was $5,668,701 compared to $8,762,429 a year ago. Net loss per common share basic and diluted was $0.56 compared to $0.88 a year ago. Net cash used in operating activities was $915,225 compared to 4,582,288 a year ago. Purchase of property and equipment was $265,065 against $544,126 a year ago. Capitalized software was $567,287. Purchase of monitoring equipment and parts was $1,201,200. Leasehold improvements were $422,544 against $1,330,068 a year ago. Non GAAP adjusted operating EBITDA was $1,225,000 against non GAAP adjusted operating LBITDA of $2,045,000 a year ago. Non-GAAP EPS, basic and diluted was $0.12 against Non-GAAP LPS, basic and diluted of $0.21 a year ago.
For the fiscal year 2016 and 2017 the company provided earnings guidance. For the fiscal year 2016, the company expects $28 million to $31 million. Adjusted EBITDA margin expected to be in the range of 15% to 20%.
For the fiscal year 2017, the company expects $42 million to $47 million. Adjusted EBITDA margin expected to be in the range of 25% to 30%.
Track Group, Inc. designs, manufactures, and markets location tracking devices. The Company develops and sells a range of related software, services, accessories, networking solutions, and monitoring applications. Its products and services include a full-range of one-piece global positioning system (GPS) tracking devices; a device-agnostic operating system, and a portfolio of software applications, including smartphone, alcohol and predictive analytics, and a variety of accessory, service and support offerings. Its products and services are sold through its direct sales force, as well as through value-added resellers. It sells to government customers on the federal, state and local levels in the United States and to members of the Ministry of Justice internationally. The Company's device-agnostic platform and portfolio of integrated and complimentary monitoring-related services help reduce risk and make the administration of justice faster and less expensive for taxpayers.
Track Group, Inc. Announces Consolidated Audited Earnings Results for the Fiscal Year Ended September 30, 2015; Provides Earnings Guidance for the Fiscal Year 2016 and 2017