SOURCE: iSECUREtrac

iSECUREtrac

May 16, 2011 11:17 ET

iSECUREtrac Corp. Reports First Quarter Results -- Continued Reduction in Operating Expenses & Slight Decline in Equipment and Revenue

OMAHA, NE--(Marketwire - May 16, 2011) - iSECUREtrac Corp (OTCBB: ISEC), an industry leader in electronic monitoring solutions, today released its financial results for the three months ended March 31, 2011.

Equipment and Service revenue for the three months ended March 31, 2011 was $2,500,000, down $63,000, or 2.4% from the $2,563,000 reported for the same period of 2010. The decline in Equipment and Service revenue, coupled with the $125,000 decline in Royalty revenue resulted in total revenue declining $187,000.

The Company's Cost of Revenue and Operating expenses, including Research & Development and Selling, General and Administrative declined $204,000 resulting in an improvement (decrease) in the Company's operating loss of $16,000 from $122,000 to $106,000.

According to President and Chief Executive Officer, Peter Michel, "While the current revenue levels are flat, in comparison to prior year, the outlook for the future is encouraging. We are seeing diminishing uncertainty surrounding budgets at the agency level and overall, demand for our services is picking up after being somewhat anemic. We are optimistic that in the latter portion of 2011 we will see revenues begin to climb again and the Company will return to where cash flow from operations will be excess of principal payments on long-term leases."

Conference Call Information:
As a reminder, the year-end conference call will be held this afternoon as follows:

Time: 3:30 PM Central - 4:30 PM Eastern
Dial-in number: 1-877-941-2322
International: 1-480-629-9715

Please dial in 5-10 minutes prior to the start. An operator will request your name and organization and ask you to wait until the call begins. If you have any difficulty connecting, please call iSECUREtrac at (866) 537-0022.

A taped replay of the conference call will be available from May 16, 2011 at 6:30 PM Central until May 23, 2011 at 10:59 PM Central.

Replay number: 1-877-870-5176
International Replay number: 1-858-384-5517
Replay Pin Number: 4441110

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 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.