Intellicheck Mobilisa (NYSE Amex: IDN), a leader in ID Verification and Wireless Technology, has released its financial results for the second quarter ended June 30, 2012.
Revenues for the quarter ended June 30, 2012, increased 9% to $3.441 million compared to $3.165 million in the same period of the previous year. Net income for the three months ended June 30, 2012 was $61,000 or $0.00 per diluted share compared to a net income of $125,000 or $0.00 per diluted share for the three months ended June 30, 2011. Adjusted EBITDA was $355,000 for the second quarter of 2012 compared to $337,000 for the second quarter of 2011. A reconciliation of GAAP net income to adjusted EBITDA is provided below. The Company’s backlog, which represents non-cancelable sales orders for products not yet shipped and services to be performed, was approximately $900,000 at June 30, 2012, compared to $800,000 at June 30, 2011.
Steve Williams, CEO of Intellicheck Mobilisa, commented, “Our priority is on growing revenue. We will continue to make this our focus throughout the rest of 2012 and beyond. I look forward to speaking with investors during our conference call later today.”
Q2 2012 and Recent Highlights:
- Fifth consecutive quarter of positive EBITDA
- Executed $1 million contract with a major seaport
- Entered into software licensing agreement for Intellicheck Mobilisa’s ID Check software with a prominent hardware manufacturer
- ATO (authority to operate) issued by the U.S. Marine Corps
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