Aware Inc. Reports $6.8 Million In Revenue For Q2 2014

Biomretric Software and Services Provider Aware, IncThe second fiscal quarter of 2014 just recently ended on June 30, 2014 and the first of the results are just starting to be released. Yesterday, Aware Inc., a biometric software and services provider, reported its Q2 revenue for the year.

Compared to the same period last year, Aware is reporting a 53 percent increase in revenue: $6.8 million over Q2 2013’s $4.4 million. Looking at the six-month period as a whole (ending June 30, 2014) revenue increased 42 percent over the same period in 2013, $13.4 million compared to $9.4 million.

Operating income before patent related income for the first six month period remained the same between this year and last year, reported as $2.7 million.

“The second quarter was an eventful quarter for us in three respects,” explains Rick Moberg, Aware’s co-chief executive officer and chief financial officer. “First, we were able to deliver solid operating earnings despite increased spending on new product development initiatives. Second, our engineering teams continued to make progress in the accuracy and scalability of our biometric matching technology which currently is offered through our NEXA product line.  And thirdly, we announced that we were going to pay a $1.75 special cash dividend in July 2014. We hope to carry the momentum we saw in the first six months of 2014 into the second half of the year.”

Aware has reported its net income for the first six months of 2014 as $1.7 million. This, in comparison to the same period for 2013 is a decrease, the company reporting $2.2 million last year which included $780,000 of income from a patent arrangement.

Q2 2014 is the second quarter that Aware  is operating primarily as a biometrics software and services company, the company having completed the shutdown of its DSL business by the end of 2013.

Earlier this year, Aware, Inc.released the Nexa family of biometric software development kits. findBIOMETRICS was granted an exclusive interview with David Benini Aware’s vice president of marketing about how this move affected the company’s position in the industry.

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July 23, 2014 – by Peter B. Counter