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Authentidate Holding Corp. Reports Fiscal 2012 Fourth Quarter And Year End Results

- Tables Follow -

Authentidate Holding Corp. and Subsidiaries
Condensed Consolidated Balance Sheet Data
     
  June 30,
(in thousands, except per share data) 2012 2011
     
Assets    
Current assets    
Cash and cash equivalents $2,036 $1,444
Restricted cash 256 256
Marketable securities 210 980
Accounts receivable, net  645 423
Inventory 4,016 4,569
Prepaid expenses and other current assets  1,286 557
Total current assets  8,449 8,229
Property and equipment, net  917 680
Other assets    
Software development costs, net  171 695
Licenses, net 2,196 65
Other assets 1,128 1,166
Total assets  $12,861 $10,835
     
Liabilities, Redeemable Preferred Stock and Shareholders' Equity  
Current liabilities    
Accounts payable, accrued expenses and other liabilities $3,547 $3,198
Deferred revenue 100 92
Total current liabilities  3,647 3,290
Senior secured notes, net of unamortized discount 2,866  -- 
Long-term deferred revenue 281 140
Total liabilities 6,794 3,430
Commitments and contingencies     
Redeemable preferred stock  3,254 2,931
Shareholders' equity     
Common stock, $.001 par value; 100,000 shares authorized, 26,999 and 23,161 shares issued and outstanding on June 30, 2012 and 2011, respectively 27 23
     
Additional paid-in capital  179,890 172,809
Accumulated deficit  (177,104) (168,358)
Total shareholders' equity  2,813 4,474
Total liabilities, redeemable preferred stock and shareholders' equity  $12,861 $10,835
 
Authentidate Holding Corp. and Subsidiaries
Condensed Consolidated Statement of Operations and Comprehensive Operations Data
(Quarterly Information is Unaudited)
 
  Three Months Ended June 30, Year Ended June 30,
(in thousands, except per share data) 2012 2011 2012 2011
         
Revenues        
Hosted software services  $ 669  $ 708  $ 2,590  $ 2,795
Telehealth products and services   343  71  598  141
Total revenues  1,012  779  3,188  2,936
Operating expenses        
Cost of revenues  901  487  2,589    1,996
Selling, general and administrative  1,754  1,678  6,359  6,065
Product development  284  212  928  829
Depreciation and amortization  279  342  1,019  1,197
Total operating expenses  3,218  2,719  10,895  10,087
Operating loss  (2,206)  (1,940)  (7,707)  (7,151)
Other (expense) income, net  (549)  --  (645)  365
Loss from continuing operations  (2,755)  (1,940)  (8,352)  (6,786)
Income (loss) from discontinued operations, including loss on disposal in 2011 of $5,405, net  --  (122)  --  (5,769)
Net loss  $ (2,755)  $ (2,062)  $ (8,352)  $ (12,555)
Basic and diluted loss per common share        
Continuing operations  $ (0.13)  $ (0.10)  $ (0.35)  $ (0.32)
Discontinued operations  --  (0.01)  --  (0.27)
Basic and diluted loss per common share  $  (0.13)  $ (0.11)  $ (0.35)  $ (0.59)
Comprehensive operations        
Net loss  $ (2,755)  $ (2,062)  $ (8,352)  $ (12,555)
Foreign currency translation adjustments  --  --  --  8
Reclassification of foreign currency translation loss to discontinued operations  --  --  --  127
Comprehensive loss  $ (2,755)  $  (2,062)  $ (8,352)  $ (12,420)
CONTACT: For: Authentidate Holding Corp.
         Investor Contacts:
         Robert Schatz
         Wolfe Axelrod Weinberger Assoc. LLC
         (212) 370-4500; (212) 370-4505 fax

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