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Last10K.com | 10-Q Quarterly Report Tue Feb 09 2010
Exhibit 99.1
ACTIVIDENTITY REPORTS FIRST QUARTER FISCAL 2010
FINANCIAL RESULTS
FREMONT, Calif., February 4, 2010 — ActivIdentity Corporation (NASDAQ: ACTI), a global leader in credential management and strong authentication, reported revenue for the quarter ended December 31, 2009, of $14.7 million, compared to $16.3 million for the quarter ended December 31, 2008, and $14.5 million for the quarter ended September 30, 2009.
ActivIdentity’s net loss for the quarter ended December 31, 2009, was ($0.3) million, or ($0.01) per basic and diluted share, compared to a net loss of ($4.5) million, or ($0.10) per basic and diluted share for the three months ended December 31, 2008. Net income for the quarter ended December 31, 2009, included realized gains from the sale of auction rate securities totaling $2.4 million.
ActivIdentity’s operating loss was ($2.9) million for the quarter ended December 31, 2009 compared to an operating loss of ($3.1) million for the quarter ended December 31, 2008, and ($1.3) million for the quarter ended September 30, 2009. Adjusted EBITDA was ($1.2) million for the quarter ended December 31, 2009, a decrease of $1.5 million compared to the quarter ending December 31, 2008, and a decrease of $1.7 million compared to the quarter ending September 31, 2009. General and administrative expenses, in the quarter ending December 31, 2009, included significant legal expenses related to a intellectual property litigation and to the acquisition of CoreStreet, Ltd., which closed on December 14, 2009. Adjusted EBITDA is a Non-GAAP measure and is defined as Operating Income adjusted for non-recurring and non-cash items such as stock-based compensation expense, depreciation, amortization of intangibles, severance and asset impairments.
“The economic climate remains challenging. We continue to see existing and prospective customers delay capital expenditures to future quarters,” said Grant Evans, chief executive officer and chairman of ActivIdentity. “We have and will continue to maintain fiscal discipline. Our focus has been on improving our operations and sales execution and we are confident that we will see gradual improvement in the coming quarters.”
Financial Highlights
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Three Months Ended |
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GAAP RESULTS |
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Dec. 31 |
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Sep. 30 |
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Dec. 31 |
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(In millions except per share data) |
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2009 |
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2009 |
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2008 |
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Revenue |
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$ |
14.7 |
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$ |
14.5 |
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$ |
16.3 |
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Net Income (Loss) |
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$ |
(0.3 |
) |
$ |
(0.3 |
) |
$ |
(4.5 |
) |
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(Loss) Earnings Per Share — Basic |
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$ |
(0.01 |
) |
$ |
(0.01 |
) |
$ |
(0.10 |
) |
|
(Loss) Earnings Per Share — Diluted |
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$ |
(0.01 |
) |
$ |
(0.01 |
) |
$ |
(0.10 |
) |
|
|
|
|
|
|
|
|
|
|||
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NON-GAAP RESULTS |
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Adjusted EBITDA |
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$ |
(1.2 |
) |
$ |
0.5 |
|
$ |
0.3 |
|
The following information was filed by Actividentity Corp on Friday, February 5, 2010 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.
View differences made from one quarter to another to evaluate Actividentity Corp's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Actividentity Corp.
Assess how Actividentity Corp's management team is paid from their Annual Proxy
Actividentity Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2010 10-K Annual Report includes:
- Voting Procedures
- Board Members
- Executive Team
- Salaries, Bonuses, Perks
- Peers / Competitors
SEC Filing Tools
CIK: 1183941
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-10-005751
Submitted to the SEC: Tue Feb 09 2010 5:17:08 PM EST
Accepted by the SEC: Tue Feb 09 2010
Period: Thursday, December 31, 2009
Industry: Prepackaged Software
External Resources:
SEC.gov
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