SANDY, Utah, Jan. 15, 2014 /PRNewswire/ -- SecureAlert, Inc. (SCRA: OTC-US), a global tracking and electronic monitoring services company, announced today that an unqualified opinion from the independent auditors was issued, removing their cautionary opinion regarding the company's sustainability as a going concern from its most recent Form 10-K, which was recently filed for the fiscal year ended September 30, 2013.
"The removal of the going concern underscores SecureAlert's success in strengthening the financial foundation on which we have positioned the company for continued growth, both domestically and internationally," said SecureAlert Chairman and Executive Committee Member Guy Dubois.
SecureAlert reported revenue growth for the fiscal year ended September 30, 2013 of $15,641,062 compared to $13,114,979 for the same period ended 2012, an increase of 19 percent. Importantly, gross profit margins improved from 32 percent in 2012 to 49 percent in 2013, a 17 percentage point improvement.
Additionally, the company's restructuring efforts have substantially reduced its selling, general and administrative expenses, which resulted in a reduction of loss from operations from $15,629,226 reported in 2012 to $1,416,164 for the same period ended in 2013.
SecureAlert improved its working capital position from a negative $13,600,345 reported in 2012 to a positive $6,836,442 for the fiscal year ended September 30, 2013, an improvement of $20,436,787. Most importantly, the company's cash flow from operations improved from a negative (cash used) $1,910,067 to a positive (cash provided) $838,910 for the fiscal year ended 2012 and 2013, respectively.
"These vastly improved results reflect our company's commitment toward delivering sustained value to our shareholders," said Mr. Dubois. "In the ever-changing electronic monitoring marketplace, SecureAlert is steadily establishing its presence as a leading provider of highly effective, cost-efficient real-time solutions for enhancing public safety."
A detailed discussion of these results is included in SecureAlert's 10-K filed with the Securities and Exchange Commission on January 14, 2014. A copy of this report is available at www.securealert.com.
SecureAlert markets and deploys offender monitoring solutions that combine tracking technologies with fulltime 24/7/365 monitoring and intervention capabilities. The company delivers patented offender monitoring technology that effectively integrates GPS, Radio Frequency (RF) and three-way interactive voice communications in a single, globally-deployable solution with features that are unique in the industry. SecureAlert empowers professionals in law enforcement, corrections and rehabilitation organizations with monitoring programs for juvenile and adult defendants and offenders. These programs offer convicted offenders and pre-trial defendants an accountable opportunity to be free from incarceration while providing greater public safety at lower costs than imprisonment or more labor-intensive supervision alternatives. The company is based at 150 West Civic Center Drive, Suite 400, Sandy, Utah 84070. To learn more, please call (801) 451-6141, or send an email to email@example.com. Visit SecureAlert online at www.securealert.com.
Safe Harbor Statement
This document 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 SecureAlert, Inc. (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 back-orders and other economic, competitive, governmental, technological, regulatory, manufacturing and marketing risks associated with the Company's business and financial plans.
The contents of this document 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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SOURCE SecureAlert, Inc.