Aware has reported the financial results for its fourth quarter and year ended 31 December 2014. Fourth quarter revenue was US$4.3 million, a decrease of 24% compared to 2013's US$5.6 million. Operating income was US$0.2 million compared to US$0.8 million the previous year. These declines were primarily due a drop in hardware sales.Net income in the fourth quarter of 2014 was US$0.2 million, or US$0.01 per diluted share, compared with US$1.6 million, or US$0.07 per diluted share, in 2013. The previous year's net income for the corresponding quarter included US$1.1 million, or US$0.05 per diluted share, of income from discontinued operations.For the year ended 31 December 2014, revenue increased 23% to US$23.7 million, compared to US$19.4 million in 2013. Operating income for 2014 was US$7.1 million compared to 2013's US$5.3 million. According to Aware, higher operating income in 2014 was primarily due to a US$0.4 million increase in operating income before patent-related income and a US$1.4 million increase in income from patent- related activities. The US$0.4 million increase was driven by higher hardware and services revenue.Net income for the year ended 31 December 2014 was US$4.6 million, or US$0.20 per diluted share. This compares with 2013's net income of US$2.6 million, or US$0.11 per diluted share. The 2013 results included a US$1.2 million loss, or US$0.05 per diluted share, from discontinued operations."While financial results for the fourth quarter did not meet our expectations, results for the full year did," says Rick Moberg, Aware's co-chief executive officer and chief financial officer. "Our biometrics business achieved its best year of financial and operational results since its inception more than 20 years ago. We go into 2015 with the most complete product portfolio we've ever enjoyed, a strengthened engineering organisation, an experienced sales staff, and a solid balance sheet. We believe we have the products and people to continue our success in this industry."
Recent Video
- New non-profit trade association of HAND will standardise global talent ID
- No cards, no phones: J.P. Morgan’s biometric revolution in payments
- Anthony Vidiano on building the future of access management
- Charisma Check wins 2025 Start-Up Pitching Competition, advancing identity verification and background checks for dating app users
- How to protect one billion Amazon customers: Lessons from continuous risk assessments
