Biometrics service firm Aware has reported financial results for its first quarter ended March 31, 2017.Revenue for the first quarter of 2017 was $4.3 million, a decrease of 10% compared to $4.8 million in the same quarter last year.The company noted that operating income in the first quarter of 2017 was $0.4 million compared to $0.9 million in the first quarter of 2016.Aware reported that the decrease in revenue and operating income were primarily due to: (i) lower imaging software license sales and no hardware sales that were partially offset by higher biometrics software license sales and (ii) higher operating expenses that were partially offset by lower cost of hardware sales.Net income in the first quarter of 2017 was $0.4 million, or $0.02 per diluted share, which compares to $0.6 million, or $0.03 per diluted share, in the same period a year ago. Kevin Russell, Aware's chief executive officer and president, said, “Our revenue and operating income for the first quarter were consistent with our expectations. Our pipeline for 2017 looks promising, but we are unable to predict when opportunities will result in revenue. We continue to make investments in product and market initiatives in order to grow our business in the government, commercial and mobile markets.” This week Aware launched its cloud-based biometric identity solution called Indigo|Onboard.
Aware reports first quarter 2017 financial results
