Intellicheck Mobilisa (NYSE Amex: IDN) has released its financial results for the fourth quarter and year ended December 31, 2011.
Revenues for the quarter ended December 31, 2011 decreased 6% to $2,868,031 compared to $3,046,567 in the same period of the previous year. Adjusted EBITDA was $283,835 for the fourth quarter of 2011 compared to $(253,795) for the fourth quarter of 2010. Net loss for the three months ended December 31, 2011 was $13,907 or $(0.00) per diluted share compared to a net loss of $641,844 or $(0.02) per diluted share for the three months ended December 31, 2010. The Company’s backlog, which represents non-cancelable sales orders for products not yet shipped and services to be performed, was approximately $2.8 million at December 31, 2011, compared to $2.8 million at December 31, 2010.
For the year ended December 31, 2011, revenues increased 2% to $12,484,331 compared to revenues of $12,291,551 reported in the same period of the prior year. Adjusted EBITDA for 2011 increased to $875,164 compared to $(938,934) in 2010. Net loss was $290,859 or $(0.01) per diluted share for the year ended December 31, 2011, compared to a net loss of $2,573,223 or $(0.10) for the year ended December 31, 2010.
Steve Williams, CEO of Intellicheck Mobilisa, commented, “Our efforts to reduce costs are reflected in our numbers and we intend to place additional resources on growing our revenues during 2012.”Q4 2011 and Recent Highlights:
- Commercial Identity Group enters into contract with major international banking firm to incorporate ID Check into the teller transaction system
- ACCOR’s Motel 6 and Studio 6 hotels integrate ScanINN™ check-in and ID verification software with their property management system
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