TrackingPoint Emerges From Restructuring a Leaner and Stronger Company

PFLUGERVILLE, Texas, Sept. 15, 2015 /PRNewswire/ -- TrackingPoint announced today the successful completion of a financial and operational restructuring.  The company is accepting new orders while fulfilling its backlog of existing orders.  In the spring of 2015, TrackingPoint temporarily suspended production and deliveries in order to put the company back on a strong financial footing.  TrackingPoint previously announced 2014 year-on-year unit growth of 281%, and its management indicated that the rapid growth subsequently outstripped the company's ability to manage its operations.

TrackingPoint's founding team of John Lupher and John McHale has returned to manage the company going forward.  John Lupher reassumes his founding role as Vice President of Engineering, while John McHale, formerly Chairman, returns to his original role as CEO.  "We were successful early on, so John Lupher and I decided to go back to our roots and take TrackingPoint to the next level," said McHale.  Frank Bruno, Chief Operation Officer, and Richard Wierzbicki, Chief Financial Officer, bolster the team to ensure the company operates efficiently going forward.

The company has a five person board of directors that includes Eric Olson, the first Navy Seal to rise to the rank of four-star Admiral.  Olson, a Navy Seal for 38 years and retired former Commander of the US Special Operations Forces, helps lead TrackingPoint's defense strategy and initiatives.  "I'm glad to see TrackingPoint moving forward with renewed focus on law enforcement and the military.  This is innovation at its best, with a real and meaningful purpose for security forces and war fighters," said Olson.

"This is a new beginning for TrackingPoint," said McHale.  "We will focus intently on the consumer, continue to innovate, and operate in a way that ensures long term success."  The company's investors include the Friedkin Group, Goff Capital Partners, and McHale Labs.

About TrackingPoint

TrackingPoint is based in Austin, Texas, and created the first Precision-Guided Firearm, a revolutionary new shooting system that puts fighter jet lock-and-launch technology in small arms, enabling shooters to make shots previously considered beyond human ability.  For more information, please visit tracking-point.com.

SOURCE TrackingPoint

Related Links

http://www.tracking-point.com

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