"LTTC's technology is a complete turn-key cloud based solution for inmate management and provides an investigative tool set for corrections facilities."
"Lattice Incorporated provides advanced information and communications technology solutions to corrections facilities globally"
"The Company's communication platform is now in 50 facilities in the U.S., Canada, Europe, Japan, and the Caribbean, serving 50,000 inmates."
Third Quarter Financial Highlights:
Revenue increased to $2.2 million.
Recurring revenues accounted for 69% of total revenues during the quarter.
Positive EBITDA of $226,000.
Net income from continuing operations was $61,000.
Net income of $49,000.
Management projects Secured Communications services segment to grow 70% YoY in FY13.
New cloud-based service offering expected to drive domestic revenue.
International expansion expected to increase revenues and lead to greater market opportunity for LTTC.
Expected to add to cash balance in the short-term.
Lattice Incorporated provides advanced information and communications technology solutions to corrections facilities globally. The Company's innovative, cost-effective solutions leverage its proprietary Nexus platform, a real-time transaction processing engine, to develop and deliver customized cloud-based software applications with military-grade security for facilities that require highly secure solutions.