SANDY, UT -- (Marketwire) -- 05/24/12 -- SecureAlert, Inc. (OTCBB: SCRA) (OTCQB: SCRA)
- Six Month Revenues Reach a Record of $10.5 Million
- Second Quarter Revenues Increase of 26% Over the Quarter a Year Ago to $4.9 Million
- Gross Profit Margin at Historical High of 47%
- Expanding Monitoring Services Business Segment Supporting Leading National & Foreign Public Safety Agencies
SecureAlert, Inc. (OTCBB: SCRA) (OTCQB: SCRA), a leading international provider of patented, wireless electronic monitoring systems and services to global public safety agencies, announced today its financial results for the second fiscal quarter ended March 31, 2012.
For the three months ended March 31, 2012, the Company reported revenues of $4,903,954, representing an increase of $1,014,923, or 26%, compared to second quarter 2011 revenues of $3,889,031.
The Company has also achieved record year-to-date, or six-month, revenues of $10,458,658, compared to $7,565,995 for the six months ended March 31, 2011, representing an increase of $2,892,663, or 38%. Importantly, the Company's monitoring revenues for the six-month period reached a record of $8,993,665, compared to $7,113,210 for the same six-month period of 2011, an increase of $1,880,455, or 26%. As the Company's core business, this revenue increase represents the continued growth that the Company continues to achieve from serving both domestic and international clients.
Additionally, while SecureAlert continues to post record fiscal year-to-date revenues, the Company reported a stable quarterly gross profit margin of 47% through the six months ended March 31, 2012, which is also a historical year-to-date achievement.
"Our continued focus on global business development, device deployment and service initiatives has yielded record reported revenues for the first fiscal six months and demonstrates the strength of our core business," said John L. Hastings III, President and Chief Executive Officer of SecureAlert, Inc. He continued, "Over the past year, we have competed aggressively in the global marketplace and are working with several progressive multi-national governments to collaborate on correctional and security opportunities which we believe can lead to new record growth levels for our company."
Hastings further commented, "Most importantly, long gone are our days of negative gross profit margins. Now, as a leaner operation, we have rededicated ourselves to deliver target gross margins at, or above, 60%, as we believe we can do better than our record achievements of 47% gross margins. In effect, we have implemented several cost-cutting and efficiency initiatives, which should not only result in meaningful gross margin improvements, but should drive net income attainment and future profitability," concluded Hastings.
A more complete discussion of operating results for the second quarter ended March 31, 2012, is included in the Company's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on May 15, 2012.
SecureAlert is a leading global provider of electronic monitoring systems, case management and services widely utilized by law enforcement agencies worldwide. SecureAlert offers real-time intervention services and innovative technologies to observe and track offenders wherever they may be: In their car, home or office. The Company delivers highly reliable solutions and peace of mind through programs that allow probationers and paroled offenders to re-enter society by electronically monitoring them 24 hours a day, for enhanced public safety, while reducing the overall burdens and costs carried by the criminal justice and corrections systems.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, including future growth and earnings opportunities of the company. Actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including the company's ability to retain and to promptly satisfy current backorders and other economic, competitive, governmental, technological, regulatory, manufacturing and marketing risks associated with the company's business and financial plans. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in the company's most recent filings with the Securities and Exchange Commission.
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