Alanco Technologies, Inc.,(NASDAQ:ALAN) announced today that preliminary results for first quarter FY 2009 sales jumped 32%, to approximately $6 million. The increase is the result of revenues generated by the company’s new TSI PRISM Radio Frequency Identification (RFID) tracking system.
Robert R. Kauffman, Alanco chairman and CEO, commented, “Commencing in 2002 with the acquisition of TSI PRISM, and the 2006 acquisition of StarTrak Systems, Alanco has operated as a development stage company, investing heavily in both of these pioneering businesses which are today the technological and market leaders in their respective markets.” The additional revenue provides a needed boost to the company’s earnings. Kauffman added, “We believe that the new fiscal year, which commenced July 1, 2008, will finally mark our transition to commercial viability and sustained profitability in both our TSI PRISM and StarTrak businesses.”
Alanco Technologies operates in three business segments:
• Wireless Asset Management – Alanco acquired Star Trak Systems in 2006, a provider of GPS tracking and wireless asset management services to the transportation industry.
• RFID Tracking Technology – Alanco acquired TSI/PRISM in 2002, and has developed a state-of-the-art RFID tracking system for security and personnel monitoring, with a focus on the corrections industry.
• Data Storage Solutions – Alanco acquired Excel Meridian Data in 2000, to provide unique data storage, backup, and disaster recovery solutions.
Alanco, based in Scottsdale, Arizona, is developing a significant position in wireless tracking and RFID markets. Their GPS systems are now the dominant provider of tracking services for refrigerated trucks, trailers, railcars, and containers. Alanco is also the leading provider of RFID real-time tracking technologies for the corrections industry, for both inmates and officers. In addition, the company offers a one-stop source for business data storage and recovery that sets it apart from the competition.
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