Biometric software specialist Aware, Inc. has posted a fiscal update on the Q1 of this year.
It was a positive quarter for the company. Revenues rose by 17 percent compared to Q1 of 2015, reaching $4.8 million, compared to $4.1 million. Net income was also up, rising from $0.3 million in Q1 of 2015 to $0.6 million for Q1 of this year.
In a statement announcing the results, Aware credited its rise in revenues primarily to a medical imaging software deal that brought in licensing revenues. Still, Aware CEO Rick Moberg asserted that the positive results “did not meet our expectations,” adding that company executives had difficulty predicting when Aware’s business opportunities would bring in revenues. That said Moberg added that the company’s “pipeline remains strong”, and that executives “continue to be optimistic about the future of our business.”
Aware’s Board of Directors has also just announced that it approved a proposal to allow the company to buy up to $10 million in its own common stock. This approval extends to the end of 2017, but could be suspended or altered at Aware’s discretion.
April 27, 2016 – by Alex Perala