Tuesday, April 24, 2018 4:16:26 PM
Aware, Inc. Reports First Quarter 2018 Financial Results
PR Newswire PR NewswireApril 24, 2018
BEDFORD, Mass., April 24, 2018 /PRNewswire/ -- Aware, Inc. (AWRE), a leading global provider of biometrics software and solutions, today reported financial results for its first quarter ended March 31, 2018.
Revenue for the first quarter of 2018 was $2.9 million, a decrease of 30% compared to $4.2 million in the same quarter last year. Operating loss in the first quarter of 2018 was $0.7 million compared to operating income of $0.2 million in the first quarter of 2017. The decrease in revenue and resulting operating loss were primarily due to: (i) lower biometrics software license sales; (ii) lower service revenue, and (iii) no income from a patent arrangement that were partially offset by no cost of software licenses and lower cost of services.
Net loss in the first quarter of 2018 was $0.5 million, or $0.02 per diluted share, which compares to net income of $0.3 million, or $0.01 per diluted share, in the same period a year ago.
Kevin Russell, Aware's chief executive officer and president, said, "Our results for the first quarter were below our expectations. We have a number of opportunities that we are working on that we were not able to close in the first quarter. Our pipeline for 2018 looks promising, but we are unable to predict when opportunities will result in revenue. We continue to see interest in our product offerings in the government, commercial and mobile markets."
Aware also announced today that its Board of Directors has approved a program authorizing the Company to purchase up to $10 million of its common stock. The shares may be purchased from time to time in the open market or through privately negotiated transactions at management's discretion, depending upon market conditions and other factors. The authorization to repurchase Company stock expires on December 31, 2019.
Recent AWRE News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/06/2024 08:00:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 09:28:37 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/09/2024 08:00:20 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:10:15 PM
- Aware Reports Second Quarter and Six Month 2024 Financial Results • GlobeNewswire Inc. • 08/08/2024 08:00:00 PM
- Aware Sets Second Quarter 2024 Webcast for Thursday, August 8, 2024, at 5:00 p.m. Eastern Time • GlobeNewswire Inc. • 07/25/2024 08:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/11/2024 09:25:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:39:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 08:38:20 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/03/2024 08:22:01 PM
- Aware’s Newly Appointed Chief Product Officer to Lead Biometric Deepfake Discussions at Identity Week Europe 2024 • GlobeNewswire Inc. • 05/30/2024 01:00:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 10:31:09 PM
- Aware Reports First Quarter 2024 Financial Results • GlobeNewswire Inc. • 05/02/2024 08:06:17 PM
- Aware Sets First Quarter 2024 Webcast for Thursday, May 2, 2024 at 5:00 p.m. Eastern Time • GlobeNewswire Inc. • 04/18/2024 08:05:00 PM
- Aware Reports Fourth Quarter Financial Results • GlobeNewswire Inc. • 03/12/2024 08:02:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 10:12:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 10:09:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 10:08:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 10:07:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 10:05:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 10:47:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 10:46:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 10:45:41 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/22/2024 10:02:17 PM
- Aware Sets Fourth Quarter and Full Year 2023 Webcast for Tuesday, March 12, 2024 at 5:00 p.m. Eastern Time • GlobeNewswire Inc. • 02/22/2024 09:05:00 PM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM