Home Tech Track Group Inc (OTCMKTS:TRCK) Releases Q2 2017 Results

Track Group Inc (OTCMKTS:TRCK) Releases Q2 2017 Results

Map pin flat above city scape and network connection concept
Map pin flat above city scape and network connection concept

Track Group Inc (OTCMKTS:TRCK)

Track Group Inc (OTCMKTS:TRCK) released their Q2 2017 financial results today. Revenue from operations came in at $7.22 million – a 9.5% increase over the same quarter in the last fiscal year. The revenue increase was principally the result of the growth in business from monitoring services provided in Chile, and growth of American monitoring operations driven by Marion County Community Corrections, and by the Virginia Department of Corrections. Gross profit for Q2 2017 was reported at $4.05 million represented a 7.3% increase when compared to the Q2 2016 figure of $3.78 million. Loss from operations decreased $234,394 or 18.8%. Operational losses were (-$1.01) million against the Q2 2016 loss of (-$1.25) million. The size of the loss represents an 18.8% improvement. For Q2 2016 Track Group Inc (OTCMKTS:TRCK) reported a net loss of (-$1.92) million. That loss narrowed in Q2 2017 to (-$1.59) million. Cash holdings expanded from the Q2 2016 report of $817,077 to a Q2 2017 figure of $1.585 million.

Track Group Inc (OTCMKTS:TRCK) also provided adjusted guidance from its December 22, 2017 news release when it forecast revenues of $30-$33 million and adjusted EBITDA margin of 12-15%. The new guidance gives revenues at $33-$35 million and adjusted EBITDA margin at 15-20%.

Track Group Inc (OTCMKTS:TRCK), based in Salt Lake City, UT, designs, develops, and manufactures customizable tracking solutions that are utilized by law enforcement, corrections departments, and corporations.

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About the author: Jane started her Wall St career out of graduate school, working for a mid-size investment bank as an analyst covering commodities. After several years working with global mining firms, she began her own investment relations business and sold it in 2007. Jane is now retired and lives in New England but enjoys researching new companies and trends.