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FOR IMMEDIATE RELEASE
Aware, Inc. Reports First Quarter 2020
BEDFORD, MASS. – April 28, 2020 – Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and services, today reported financial results for its first quarter ended March 31, 2020.
Revenue for the first quarter of 2020 was $3.5 million compared to $3.7 million in the same quarter last year. Operating loss in the first quarter of 2020 was $1.3 million compared to operating loss of $44,000 in the first quarter of 2019.
The decrease in revenue in the current three-month period as compared to the corresponding period last year was primarily due to lower biometrics services revenue. This was partially offset by higher biometrics software license revenue. Lower biometrics services revenue was primarily due to: i) to lower services revenue from the license agreement we entered into with a systems integrator in the second quarter of 2018; and ii) fewer service projects in the current year quarter as compared to the corresponding period of 2019. Higher biometrics software revenue was primarily due to higher software license sales to a direct government customer, and to a lesser extent higher revenue from our commercial customers. The higher operating loss in the current three month period as compared to the corresponding period last year was primarily due to lower revenue and higher operating expenses.
Net loss in the first quarter of 2020 was $1.1 million, or $0.05 per diluted share, which compares to a net income of $228,000, or $0.01 per diluted share, in the same period a year ago.
Aware, Inc. • 40 Middlesex Turnpike • Bedford, MA USA 01730-1432
Tel: (781) 276-4000 • Fax: (781) 276-4001 • E-mail: IR@aware.com
The following information was filed by Aware Inc (AWRE) on Tuesday, April 28, 2020 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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