Actividentity Corp 10-Q Quarterly Report August 2009

— ActivIdentity Corporation (NASDAQ: ACTI), a global leader in credential management and strong authentication, reported revenue for the quarter ended June 30, 2009 of $15.4 million, compared to $14.3 million for the quarter ended June 30, 2008 and $16.1 million for the quarter ended March 31, 2009.

ActivIdentity’s net income for the quarter ended June 30, 2009, was $2.1 million or $0.05 per basic and diluted share, compared to a net loss of ($7.0) million, or ($0.15) per basic and diluted share for the three months ended June 30, 2008. Net income for the quarter ended June 30, 2009 included realized and unrealized gains on foreign exchange totaling $2.1 million, primarily due to the weakening of the U.S. dollar.

ActivIdentity’s operating loss was ($1.1) million for the quarter ended June 30, 2009 compared to an operating loss of ($4.7) million for the quarter ended June 30, 2008 and ($1.7) million for the quarter ended March 31, 2009. Adjusted EBITDA was $0.9 million for the quarter ended June 30, 2009, representing an improvement of $3.6 million compared to the prior-year quarter, and an increase of $0.2 million sequentially. 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.

“Despite little improvement in the tough economic climate, ActivIdentity still posted solid operational and financial performance results during the fiscal third quarter,” said Grant Evans, chief executive officer and chairman of ActivIdentity. “Throughout this challenging time, the resiliency of our credential management and strong authentication solutions continue to exemplify the resiliency and stability of our renewed market focus and management team. As we look forward to the remainder of our fiscal year ending September 30, 2009 and beyond, we remain focused on streamlining our operations and continue to manage our expenses in order to be positioned for future growth.”

The following information was filed by Actividentity Corp on Friday, August 7, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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CIK: 1183941
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-09-048660
Submitted to the SEC: Mon Aug 10 2009 4:31:27 PM EST
Accepted by the SEC: Mon Aug 10 2009
Period: Tuesday, June 30, 2009
Industry: Prepackaged Software