Actividentity Corp (1183941) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, September 30, 2009

Exhibit 99.1

ACTIVIDENTITY REPORTS FOURTH QUARTER FISCAL 2009

FINANCIAL RESULTS

Revenue for the Full Fiscal Year 2009 Increased by 6% to $62.3 Million over Prior Fiscal Year.

FREMONT, Calif., November 19, 2009

ActivIdentity’s net loss for the quarter ended September 30, 2009, was ($0.3) million or ($0.01) per basic and diluted share, compared to a net loss of ($23.1) million, or ($0.50) per basic and diluted share for the three months ended September 30, 2008.  Net loss for the quarter ended September 30, 2009 included realized and unrealized gains on foreign exchange totaling $0.2 million, primarily due to the weakening of the U.S. dollar.  ActivIdentity’s net loss for fiscal 2009 was ($5.5) million, or ($0.12) per basic and diluted share, as compared to a net loss for fiscal 2008 of ($76.5) million, or ($1.67) per basic and diluted share.  The fiscal 2008 net loss included an other than temporary impairment on auction rate securities of $21.2 million and a goodwill impairment of $35.9 million.

ActivIdentity’s operating loss was ($1.3) million in the quarter ended September 30, 2009 compared to an operating loss of ($4.5) million in the quarter ended September 30, 2008 and ($1.1) million in the quarter ended June 30, 2009.  Operating loss in fiscal 2009 was ($7.2) million, as compared to an operating loss of ($56.5) million in fiscal 2008, which included a $35.9 million goodwill impairment.

Adjusted EBITDA was $0.5 million for the quarter ended September 30, 2009 and $2.3 million for the full fiscal year 2009, representing an improvement of $13.2 million over the prior fiscal year.  Adjusted EBITDA is a Non-GAAP measure and is defined as Operating Income adjusted for non-recurring and non-cash items such as stock-based compensation expense, depreciation, amortization of intangibles, severance and asset impairments.  Adjusted EBITDA in the quarter ended September 30, 2008 was ($2.0) million and $0.9 million in the quarter ended June 30, 2009.

“We are pleased with our financial results for fiscal 2009,” said Grant Evans, chief executive officer and chairman of ActivIdentity.  “We were able to increase our top line by six percent year over year and generate positive Adjusted EBITDA in this challenging economic environment.  We’ve improved our execution and maintained fiscal discipline over the last several quarters and we will maintain this posture going forward.”