OMAHA, Neb., April 8, 2008 /PRNewswire-FirstCall/ -- iSECUREtrac Corp.
(OTC Bulletin Board: ISEC), an industry leader in electronic monitoring
solutions, announced today that its annual stockholders meeting will be held
on Wednesday, April 30, 2008 at the Omaha Marriott Hotel, 10220 Regency
Circle, Omaha, NE at 2:00 p.m. Central Standard Time.
The Company previously reported that total revenue for the year ending
December 31, 2007 was up 9% to $8.8 million, from $8.1 million the prior year.
Recurring revenue from the leasing of monitoring systems and related services
was $8.4 million, up 13% from $7.4 million in 2006. The Company reported a
net loss of $7.2 million, compared to a net loss of $5.4 million for 2006.
The increase in net loss was primarily due to higher than customary expenses
to cover management restructuring and Sarbanes-Oxley. In addition, litigation
and settlement costs related to a patent infringement lawsuit added
$1.1 million in 2007 expenses.
"Our financial performance in 2007 was disappointing," said Peter Michel,
President and CEO. "However, it would be a mistake to ignore the significant
achievements we made last year which are not reflected in our financial
results. For example, we added three exceptionally qualified executives and,
in the fourth quarter, accelerated the roll-out of our new System 5000. Our
annual meeting will provide shareholders and investors the opportunity to meet
our new executive team, see the new System 5000 and learn why we are so
optimistic concerning our prospects in 2008 and beyond."
Annual Shareholder Meeting
Please join President and CEO Peter Michel, CFO Lincoln Zehr, VP Sales and
Marketing Bob Bierman and Director of Engineering Rich Snider on Wednesday,
April 30, 2008. The Company will discuss the electronic monitoring market, the
Company's year-end 2007 results, and prospects for 2008 and beyond. Details
for the meeting are as follows:
Date: Wednesday, April 30, 2008
Time: 2:00 PM Central (3:00 PM Eastern)
Location: Marriott Omaha
Address: 10220 Regency Circle
Omaha, NE 68114 USA
Telephone: 1-402-399-9000 (Marriott)
If you need directions to the Marriott Omaha or have any questions
regarding the annual meeting please call iSECUREtrac at 402-537-0022.
About iSECUREtrac
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 http://www.isecuretrac.com for more
information.
Safe Harbor
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.
SOURCE iSECUREtrac Corp.