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Project Expected to Increase Annual Recurring Revenues by approximately $850,000 and Provide a Platform to Offer a Full Range of Services to the County
NEW YORK, Nov. 28, 2022 /PRNewswire/ -- SuperCom (NASDAQ: SPCB), a global provider of secured solutions for the e-Government, IoT, and Cybersecurity sectors, announced today that its fully-owned subsidiary, Leaders in Community Alternatives (LCA), has won a new project contract with a Northern California county to provide adult reentry services. LCA has provided services in this county for many years, including adult day reporting services and electronic monitoring.
This new project, which expands the scope of reentry services from several community-based sites to now also include jail-based sites, is valued at up to $4.25 million over 5 years, or approximately $850,000 estimated per year, consisting of an initial 3-year term with two optional one-year extensions. The contract focuses on reentry services, including case management, substance abuse education, job preparedness, and criminogenic risk reduction. Project launch and generation of recurring revenues are expected to commence in the first half of 2023.
"The win of another project in this county, where LCA has been providing services since 2012, is a testament to the inherent value of our unique offerings and the quality of the relationships we maintain with our customers. We attribute this win to our successful track record of creating customized programs that best suit the needs of public agencies by addressing specific criteria related to reducing recidivism, improving public safety, and providing services related to substance abuse, pro-social thinking, and ultimately, changing lives," commented Ordan Trabelsi, President and CEO of SuperCom,
"We are proud of the opportunity to create a positive social impact as a prominent electronic monitoring and rehabilitation services provider in California. This project is expected to increase our presence further and provide a platform for LCA to now offer its full range of services to the county, including the increased use of electronic monitoring. As we win and deploy more projects in this region, our reference base of satisfied customers increases, which in turn helps us to expand into more locations nationally and internationally. We look forward to continuing to expand our footprint across the globe," concluded Mr. Trabelsi.
The project was won through a formal bid process. The win will go through a customary standstill waiting period before contract signing is approved and the project is launched. SuperCom management expects to provide further information in follow-up announcements at the appropriate time.
About SuperCom
Since 1988, SuperCom has been a global provider of traditional and digital identity solutions, providing advanced safety, identification, and security solutions to governments and organizations, both private and public, worldwide. Through its proprietary e-Government platforms and innovative solutions for traditional and biometrics enrollment, personalization, issuance, and border control services, SuperCom has inspired governments and national agencies to design and issue secure Multi-ID documents and robust digital identity solutions to its citizens and visitors. SuperCom offers a unique all-in-one field-proven RFID & mobile technology and product suite, accompanied by advanced complementary services for various industries, including healthcare and homecare, security and safety, community public safety, law enforcement, electronic monitoring, livestock monitoring, and building and access automation. For more information, please visit SuperCom's website, www.supercom.com
About Leaders in Community Alternatives, Inc. (LCA)
LCA, a SuperCom subsidiary, is one of California's leading private criminal justice organizations, providing community-based services and electronic monitoring programs to government agencies for more than 31 years. LCA's treatment services are evidence-based and built on best practices designed to break the cycle of recidivism. LCA offers a comprehensive approach with programs addressing cognitive and behavioral issues related to criminogenic risk. LCA offers proven solutions for governmental institutions across California in addressing realignment strategies and plans to improve public safety and reduce costs associated with unnecessary incarceration. For more information, please visit: http://www.lcaservices.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded or followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans," and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical or current facts. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from the statements made. Examples of these statements include, but are not limited to, statements regarding business and economic trends, the anticipated effects of the COVID-19 outbreak on travel and physical locations, the levels of consumer, business and economic confidence generally, the duration of the COVID-19 outbreak and severity of such outbreak, the pace of recovery following the COVID-19 outbreak, status of contractual awards and related commitments and contingencies, the effect on our supply chain, our ability to implement cost containment and business recovery strategies and resulting anticipated impact of such outbreak on our business, financial condition and results of operations, the adverse effects of the COVID-19 outbreak on our business or the market price of our ordinary shares, and other risks and uncertainties described in the forward looking statements and in the section captioned "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2021, filed with the U.S. Securities and Exchange Commission (the "SEC") on April 4, 2022, our reports on Form 6-K filed from time to time with the SEC and our other filings with the SEC. Except as required by law, we do not undertake any obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, after the date of this press release.
SuperCom Investor Relations:
ir@supercom.com
Kirin Smith
PCG Advisory
ksmith@pcgadvisory.com
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SOURCE SuperCom Ltd.