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Aware, Inc. Reports Second Quarter 2014 Financial Results
Date:7/22/2014

BEDFORD, Mass., July 22, 2014 /PRNewswire/ -- Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and services, today reported financial results for its second quarter ended June 30, 2014.

Revenue for the second quarter of 2014 was $6.8 million, an increase of 53% compared to $4.4 million in the same quarter last year. Operating income before patent related income in the second quarter of 2014 was $1.4 million compared to $0.5 million in the second quarter of 2013. The increase in revenue and operating income was driven by higher sales of software licenses, software maintenance, services, and hardware.

Income from continuing operations in the second quarter of 2014 was $0.9 million compared to $0.5 million in the second quarter of 2013.  Net income in the second quarter of 2014 was $0.9 million, or $0.04 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.  Net income in the year ago quarter included a $158,000 loss from discontinued operations.

For the six months ended June 30, 2014, revenue increased 42% to $13.4 million, compared to $9.4 million in the same period a year ago.  Operating income before patent related income for the first six months of 2014 and 2013 was unchanged at $2.7 million.

Net income for the six months ended June 30, 2014 was $1.7 million, or $0.08 per diluted share. These results compared to net income of $2.2 million, or $0.10 per diluted share, for the same period a year ago. Net income in the year ago six month period included $780,000 of income from a patent arrangement less a $273,000 loss from discontinued operations.

Rick Moberg, Aware's co-chief executive officer and chief financial officer, said, "The second quarter was an eventful quarter for us in three respects.  First, we were able to deliver solid oper
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SOURCE Aware, Inc.
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