Track Group Reports Fiscal 2017 Financial Results

NAPERVILLE, Ill., Dec. 20, 2017

"We're happy to report a very strong finish to a great fiscal 2017, with year-over-year growth in key financial categories including our best quarter ever for Adjusted EBITDA," said Guy Dubois, Track Group's Chairman and CEO. "With our fantastic new line-up of smartphone-based monitoring applications including BACtrack for criminal justice, we're looking forward to a great 2018, and with the launch of our new device-agnostic operating platform getting underway right now, we couldn't be more excited as we begin to deliver our vision for the future."

FINANCIAL HIGHLIGHTS

• Total revenue in FY2017 up 9.3% over last year ($29.7M vs. $27.2M)
• Total operating expenses for the year ended 30 Sept 2017 are flat ($20.5M) vs. last year ($20.4M) despite the fact that the Company incurred restructuring costs, an impairment of intangible assets, and a loss on the sale of assets which, in aggregate, totaled approximately $1.8M for the year just ended
• Adjusted EBITDA in FY2017 finished at $3.6M up 82.1% compared to $2.0M for FY2016
• Adjusted EBITDA for the quarters of fiscal 2017 improved sequentially each quarter
• Q1 or 31 Dec 2016 Adj EBITDA = $0.41M
• Q2 or 31 March 2017 Adj EBITDA = $0.64M
• Q3 or 30 June 2017 Adj EBITDA = $1.24M
• Q4 or 30 Sept 2017 Adj EBITDA = $1.35M
• Net Cash Provided by Operating Activities 
• For year ended 30 Sept 2017 = $4.1M
• For year ended 30 Sept 2016 = $0.9M
• Up 357% or nearly five-fold
• Net loss attributable to shareholders in FY2017 improved to ($4.7M) up 44% compared to ($8.5M) for FY2016

BUSINESS HIGHLIGHTS

• The Company completed a major operational restructuring in 2017, which included the consolidation of key operational functions into its new Chicagoland Headquarters
• Launch of the Company's next generation operating platform is underway
• Major smartphone application development initiatives were completed in 2017 and launches are currently underway including remote alcohol monitoring and domestic violence solutions
• Key customer accounts are stable and growing

BUSINESS OUTLOOK

	Actual		Outlook ARIVA.DE Börsen-Geflüster Kurse Track Group 0,23 € 0,00%
	FY 2016	FY 2017	FY 2018
Revenue:	$27.2M	$29.7M	$35-40M
Adjusted EBITDA Margin:	7.3%	12.2%	15-20%

Non-GAAP Financial Measures
This release includes financial measures defined as "non-GAAP financial measures" by the Securities and Exchange Commission including non-GAAP EBITDA. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles. Reconciliations of these non-GAAP financial measures are based on the financial figures for the respective period.

Non-GAAP Adjusted EBITDA excludes items included but not limited to interest, taxes, depreciation, amortization, impairment charges, gains and losses, currency effects, one time charges or benefits that are not indicative of operations, charges to consolidate, integrate or consider recently acquired businesses, costs of closing facilities, stock based or other non-cash compensation or other stated cash and non-cash charges (the "Adjustments").

The Company believes the non-GAAP measures provide useful information to both management and investors when factoring in the Adjustments. Specific disclosure regarding the Company's financial results, including management's analysis of results from operations and financial condition, are contained in the Company's annual report on Form 10-K for the fiscal year ended September 30, 2017, and other reports filed with the Securities and Exchange Commission. Investors are encouraged to carefully read and consider such disclosure and analysis contained in the Company's Form 10-K and other reports, including the risk factors contained in such Form 10-K.

TRACK GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2017 AND 2016

Assets		2017				2016
Current assets:
Cash		$	2,027,321			$	1,769,921
Accounts receivable, net of allowance for doubtful accounts of $3,268,095 and $2,335,508, respectively			5,438,564				6,894,095
Note receivable, current portion			234,733				334,733
Prepaid expenses and other			854,122				816,708
Inventory, net of reserves of $26,934 and $98,150, respectively			261,810				521,851
Total current assets			8,816,550				10,337,308
Property and equipment, net of accumulated depreciation of $1,778,634 and $1,421,389, respectively			903,100				1,226,461
Monitoring equipment, net of accumulated amortization of $4,906,925 and $3,438,074, respectively			3,493,012				4,358,117
Intangible assets, net of accumulated amortization of $9,839,032 and $8,233,659, respectively			24,718,655				25,540,650
Goodwill			8,226,714				7,955,876
Other assets			2,989,101				2,900,911
Total assets		$	49,147,132			$	52,319,323
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable			2,769,835				2,771,101
Accrued liabilities			6,650,291				3,976,192
Current portion of long-term debt, net of discount of $185,811 and $222,973, respectively			30,270,531				3,245,732
Total current liabilities			39,690,657				9,993,025
Stock payable - related party			-				3,289,879
Long-term debt, net of current portion and discount of $0 and $185,811, respectively			3,480,717				30,345,803
Total liabilities			43,171,374				43,628,707
Stockholders' equity:
Common stock, $0.0001 par value: 30,000,000 shares authorized; 10,480,984 and 10,333,516 shares outstanding, respectively			1,048				1,034
Additional paid-in capital			300,717,861				298,876,399 Werbung Mehr Nachrichten zur Track Group Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 11:46 - dpa-AFX ROUNDUP: Hamborner Reit startet mit Gewinnplus ins Jahr - Indexmieten helfen 05:35 - dpa-AFX Pressestimme: 'Stuttgarter Zeitung' zu Wirtschaftspapier der FDP 02:00 - PR Newswire BlackRock Sustainable American Income Trust Plc - Total Voting Rights Der KI-Boom ist vorbei!    Aber dieser heiße Sektor verspricht, weiter zu wachsen... weiterlesen» Anzeige wo-site-teaser-box-16737_site-teaser-box_2024-04-23_09%253A00%253A00_2024-04-24_09%253A00%253A59