Israeli biometrics and ID firm Supercom has revealed that revenues hit $7.75m for the last quarter compared to $7.06 million.While GAAP operating income was $1.3 million compared to $2.2 million, Non-GAAP operating income was $2.3 million compared to $2.7 million.Non-GAAP EPS increased by 15% to $0.38 compared to $0.33Meanwhile, revenue in the first six months increased by 24% to $15.4 million compared to $12.4 million.”We executed according to plan in the second quarter, achieving revenue growth and strong margins while dramatically broadening our new business pipeline and solution offerings in our fast growing target markets,” commented Arie Trabelsi, SuperCom's President and CEO. “In parallel to the complex implementation of large government e-ID contracts, we executed on a number of strategic and operational initiatives including securing more than $7 million in follow on orders from existing e-ID customers, winning a highly strategic electronic offender monitoring tender with a new European government customer and strengthening our balance sheet by raising approximately $27 million net proceeds from a successful public offering. We also recognized nearly $2 million of high-margin revenues that we expected to recognize in late June, during the first weeks of July, shortly after the quarter closed.””We made significant progress to strengthen and expand our e-ID and M2M businesses, while further developing our secure mobile payment offering and strengthening our market position,” Mr. Trabelsi added. “The number, quality, stage and size of opportunities in our pipeline are increasingly encouraging. Based on the number of open proposals we have around the globe in various stages and in light of our strengthened balance sheet following the successful offering, we believe we are well positioned to win additional new contracts this year.”According to financial media, the firm's second quarter figure of $0.16 earnings per share (EPS) missing a consensus estimate of $0.28 by $0.12.
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