Biometrics company Aware, Inc. has announced its financial results for the fourth quarter of last year and for last year generally. The company suffered from decreased revenue in the fourth quarter, but its net income for the overall year was up against 2013.Fourth quarter revenue was down 24 percent from the same time the year before – a drop from $5.6 million to $4.3 million. It’s a somewhat stark contrast against the strong results reported for Q3, and the company says that dropping hardware sales are mostly to account for the decrease.
But the good news is that overall revenue for the year was up, from $19.4 million in 2013 to $23.7 million last year – an increase of 23 percent. That amounts to net income of $4.6 million, against $2.6 million in 2013.
The strong year seems largely a product of the launch of Aware’s Nexa line of biometric SDKs, which allow for face, fingerprint, and iris-scanning applications. Given the huge growth trend in the fingerprint scanner market, and the strength of the industry overall, such offerings clearly gave Aware some major selling points, and continue to be cause for optimism. In a statement, Aware co-CEO Rick Moberg asserted, “We go into 2015 with the most complete product portfolio we’ve ever enjoyed, a strengthened engineering organization, an experienced sales staff, and a solid balance sheet.”
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February 11, 2015 – by Alex Perala
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