SuperCom Ltd.’s (NASDAQ: SPCB) Latest $2.9 Milli
Post# of 159
(Total Views: 90)
Posted On: 07/19/2024 4:38:04 PM
SuperCom Ltd.’s (NASDAQ: SPCB) Latest $2.9 Million Government EM Contract Shows Continuing Appeal of its Technology
- Electronic monitoring (“EM”) technology developer SuperCom Ltd. recently reported a new contract with European government clients for its flagship product, its third such contract secured within a three-month period
- SuperCom’s business with European governments that are seeking its EM technology solutions amounts to over $11 million in new orders since April
- SuperCom’s flagship EM PureSecurity Suite products provide monitoring solutions that are chiefly being used as an alternative to incarceration
- The EM market is growing as criminal justice officials increasingly seek alternatives to incarceration as a means of cutting costs while simultaneously benefitting society through reduced recidivism and increased productive social and labor market participation
SuperCom (NASDAQ: SPCB), a global identity technology provider, reported on July 11 that the company has received new orders from European governments valued at $2.9 million, the third set of orders from European clients in the past 90 days, amounting to a cumulative total of over $11 million in sales during three-month period.
“Securing over $11 million in new orders from Europe in less than 90 days is a significant achievement for SuperCom. It highlights our leadership in the electronic monitoring sector and our ability to meet our clients’ evolving needs consistently,” SuperCom President and CEO Ordan Trabelsi stated in the announcement (https://nnw.fm/M2BcU ). “We are committed to ensuring successful project execution and fostering lasting partnerships with governments worldwide.”
SuperCom revealed last month that it had received over $3 million in orders from a group of European government clients for law enforcement safety efforts (https://nnw.fm/RJ7jk ), and over $5 million in similar European government contracts announced in April (https://nnw.fm/BzxAi ).
SuperCom’s flagship PureSecurity Suite provides state-of-the-art GPS tracking and monitoring technologies using a secure software platform that works in real time to transmit information on a monitored subject’s whereabouts.
The company’s electronic monitoring (“EM”) clients are primarily in the justice system sector, using the technology to supervise criminal case offenders granted home detention or work-release activity as an alternative to incarceration. Domestic violence-related protective orders and substance abuse rehabilitation programs are also served by the technology.
EM technology is being sought by governments and justice system personnel increasingly as a cost-saving alternative to incarceration and also as a potential measure to reduce recidivism.
Earlier this year, the Journal of Public Economics published research suggesting that the use of electronic monitoring benefits society. It strengthens the labor market and supports offenders’ families as a securely monitored alternative to incarceration.
“Our findings indicate that the reform resulted in several positive outcomes. Specifically, it significantly reduced the probability of being re-arrested within three years after the trial by 4.7 percent and lowered the three-year re-conviction rate by about 2.2 percent,” the report on the study states (https://nnw.fm/iMWTC ).
“Additionally, EM improves the educational attainment and early-life earnings of the children whose parents were exposed to the reform,” the report states. “Our calculations suggest that the social benefits stemming from EM are about seven times larger than the fiscal savings associated with reduced prison expenditures, implying that the welfare gains from EM could be much greater than previously acknowledged.”
The company’s first quarter financial results published in May revealed that SuperCom’s EBITDA grew by 400 percent YOY to $2 million, showing a tremendous increase in its profitability.
“This improvement is a testament to our rigorous management practices and dedication to effectively leveraging our core business infrastructure,” Trabelsi stated.
For more information, visit the company’s website at www.SuperCom.com.
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at https://nnw.fm/SPCB
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
- Electronic monitoring (“EM”) technology developer SuperCom Ltd. recently reported a new contract with European government clients for its flagship product, its third such contract secured within a three-month period
- SuperCom’s business with European governments that are seeking its EM technology solutions amounts to over $11 million in new orders since April
- SuperCom’s flagship EM PureSecurity Suite products provide monitoring solutions that are chiefly being used as an alternative to incarceration
- The EM market is growing as criminal justice officials increasingly seek alternatives to incarceration as a means of cutting costs while simultaneously benefitting society through reduced recidivism and increased productive social and labor market participation
SuperCom (NASDAQ: SPCB), a global identity technology provider, reported on July 11 that the company has received new orders from European governments valued at $2.9 million, the third set of orders from European clients in the past 90 days, amounting to a cumulative total of over $11 million in sales during three-month period.
“Securing over $11 million in new orders from Europe in less than 90 days is a significant achievement for SuperCom. It highlights our leadership in the electronic monitoring sector and our ability to meet our clients’ evolving needs consistently,” SuperCom President and CEO Ordan Trabelsi stated in the announcement (https://nnw.fm/M2BcU ). “We are committed to ensuring successful project execution and fostering lasting partnerships with governments worldwide.”
SuperCom revealed last month that it had received over $3 million in orders from a group of European government clients for law enforcement safety efforts (https://nnw.fm/RJ7jk ), and over $5 million in similar European government contracts announced in April (https://nnw.fm/BzxAi ).
SuperCom’s flagship PureSecurity Suite provides state-of-the-art GPS tracking and monitoring technologies using a secure software platform that works in real time to transmit information on a monitored subject’s whereabouts.
The company’s electronic monitoring (“EM”) clients are primarily in the justice system sector, using the technology to supervise criminal case offenders granted home detention or work-release activity as an alternative to incarceration. Domestic violence-related protective orders and substance abuse rehabilitation programs are also served by the technology.
EM technology is being sought by governments and justice system personnel increasingly as a cost-saving alternative to incarceration and also as a potential measure to reduce recidivism.
Earlier this year, the Journal of Public Economics published research suggesting that the use of electronic monitoring benefits society. It strengthens the labor market and supports offenders’ families as a securely monitored alternative to incarceration.
“Our findings indicate that the reform resulted in several positive outcomes. Specifically, it significantly reduced the probability of being re-arrested within three years after the trial by 4.7 percent and lowered the three-year re-conviction rate by about 2.2 percent,” the report on the study states (https://nnw.fm/iMWTC ).
“Additionally, EM improves the educational attainment and early-life earnings of the children whose parents were exposed to the reform,” the report states. “Our calculations suggest that the social benefits stemming from EM are about seven times larger than the fiscal savings associated with reduced prison expenditures, implying that the welfare gains from EM could be much greater than previously acknowledged.”
The company’s first quarter financial results published in May revealed that SuperCom’s EBITDA grew by 400 percent YOY to $2 million, showing a tremendous increase in its profitability.
“This improvement is a testament to our rigorous management practices and dedication to effectively leveraging our core business infrastructure,” Trabelsi stated.
For more information, visit the company’s website at www.SuperCom.com.
NOTE TO INVESTORS: The latest news and updates relating to SPCB are available in the company’s newsroom at https://nnw.fm/SPCB
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
(0)
(0)SuperCom Ltd. (SPCB) Stock Research Links
Scroll down for more posts ▼