Intellicheck Mobilisa released its financial results for the first quarter ended March 31, 2013. Revenues for the quarter ended March 31, 2013 was US$1.63 million compared to $2.71 million in the first quarter 2012 and up over 209 percent from $528,000 in the fourth quarter 2012.
Intellicheck Mobilisa released its financial results for the first quarter ended March 31, 2013. Revenues for the quarter ended March 31, 2013 was down 40 percent to US$1.63 million compared to $2.71 million in the first quarter 2012 and up over 209 percent from $528,000 in the fourth quarter 2012.
Adjusted EBITDA resulted in the loss of $646,000 for the first quarter of 2013 compared to $314,000 for the first quarter of 2012 and loss of $1,68 million in the fourth quarter 2012. Net loss for the three months ended March 31, 2013 was $921,000 or $0.03 per diluted share compared to net income of $15,000 or $0.00 per diluted share for the three months ended March 31, 2012 and a net loss of $1,955,000 or $0.07 per diluted share in the fourth quarter 2012.
The Company's backlog, which presents non-cancelable sales orders for products not yet shipped and services to be performed, was approximately $732,000 at March 31, 2013, compared to $1.6 million at March 31, 2012.
“As expected, and discussed in our fourth quarter financial release, first quarter's financial performance improved sequentially over the fourth quarter 2012, but was not as robust as last year's first quarter,” stated Nelson Ludlow, President and CEO of Intellicheck. “We continue to focus our efforts on improving revenue, developing new products and technologies, streamlining our operations, and focusing more on recurring revenue streams.”
Q1 2013 and Recent Highlights:
- Intellicheck's driver license scanning software identifies Boston bombing suspect's purchase of mortar kits at New Hampshire fireworks store;
- Intellicheck featured in four media outlets for role in helping to identify Boston bombing suspect.
- Awarded Contract by major U.S. retail chain to deploy ID verification software.
- Submitted two new TWIC card readers for third-party testing for inclusion the Transportation Security Administration (TSA) Quality Technology List (QTL).
- Demonstrated to media outlets upcoming iPhone application that checks ID cards for alcohol purchase at bars and restaurants.