Aware Inc (AWRE) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:

Kevin Russell

Aware, Inc.
781-276-4000

Aware, Inc. Reports Third Quarter 2018

Financial Results

BEDFORD, MASS. – October 23, 2018 –

Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and services, today reported financial results for its third quarter ended September 30, 2018.

Revenue for the third quarter of 2018 was $5.4 million, a decrease of 5% compared to $5.7 million in the same quarter last year. Operating income in the third quarter of 2018 was $1.1 million compared to $1.5 million in the third quarter of 2017.

The decrease in revenue and operating income was primarily due to: i) a large imaging software license sale to a medical imaging customer in the third quarter of 2017 whereas there was no such sale in the current three month period; and ii) no royalty revenue in the third quarter of 2018. The decrease in revenue was partially offset by: i) a large biometrics software license sale to a large commercial customer in the third quarter of 2018; and ii) higher maintenance and services revenue in the third quarter of 2018. To a lesser extent, lower patent related income from an unaffiliated third party and higher total costs and expenses in the third quarter of 2018 also contributed to lower operating income.

Net income in the third quarter of 2018 was $1.3 million, or $0.06 per diluted share, which compares to net income of $1.1 million, or $0.05 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, October 23, 2018 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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