Today Aware, Inc. announced its Q1 financial results for 2014 and, in terms of revenue, things are looking positive for the biometric software and service provider.
The period in question ended March 31, 2014 and saw Aware raking in $6.6 million in revenue. This is a marked increase of 33 percent over the same period last year.
Q1 2014 is the first quarter that Aware, Inc is operating as primarily a biometrics software and services company, having completed the shutdown of its DSL business by the end of 2013. has A lower operating income (before patent related income) of $1.3 million, compared to last year’s $2.2 million, has been reported as a discrepancy resulting from a large non-recurring direct sale to a government agency in early 2013.
Overall, the net income for Q1 2014 was $0.9 million, which equates to $0.04 per share.
“Our first quarter financial performance was positive, particularly in light of the new product development investments we made,” explains Rick Moberg, Aware’s co-chief executive officer and chief financial officer, “Notwithstanding these investments, cash and investment balances grew by $1.9 million to $77.3 million as of March 31, 2014. As we move into the second quarter, we are focused on winning new customer biometrics projects and getting new products to market.”
This past financial quarter saw big news from Aware, Inc., when in March the company released the Nexa family of biometric software development kits. findBIOMETRICS was granted an exclusive interview with David Benini Aware’s vice president of marketing about how this move affected the company’s position in the industry.
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April 22, 2014 – by Peter B. Counter
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