The second quarter of 2011 was encouraging for I.D. Systems. We made progress toward our goals of growing revenue, controlling costs and achieving net profitability by the end of the year. Compared to the second quarter a year ago, revenues were up 39% to $8.3 million, SG&A and R&D expenses decreased 14% and 22% respectively, while gross margins remained strong and stable at 54%, and our GAAP net loss was cut in half.On a non-GAAP basis, excluding stock-based compensation and depreciation and amortization of intangible assets, our net loss for the second quarter of 2011 was reduced by almost two-thirds compared to the second quarter of 2010.
I.D. Systems CEO Discusses Q2 2011 Results - Earnings Call Transcript
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