This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Identive Group Announces Fourth Quarter And Fiscal 2012 Results

Stocks in this article: INVINVE

Based on its current expectations, management expects revenues of $22.0 million to $24.0 million in the first quarter of 2013, which is seasonally the weakest of the year, and further expects non-GAAP, adjusted EBITDA of $(1.5) million to (0.75) million. For full year 2013, management expects revenues of $105.0 million to $115.0 million and non-GAAP, adjusted EBITDA of $4.0 million to $6.0 million.

Full Year 2012 Results

Commenting on 2012 full year results, Identive's CFO, David Wear said, "2012 was a challenging year as economic austerity measures impacted Citizen ID programs in Europe and contributed to a 25% drop in sales in the region. Customer project deferrals also impacted sales of our transponder products for the first three quarters. We took action in June to accelerate expense reduction and lowered our breakeven point by taking out more than $6 million in costs. At the same time, we increased our R&D investment and made significant progress in the development of core identification technologies as well as new and enhanced offerings to drive future sales. We entered 2013 with a leaner operating model and a stronger portfolio of products and solutions for Secure ID."

Revenue for the full year 2012 was $94.6 million, down 8% from $102.7 million in 2011. Revenue from Identive's Identity Management services and solutions segment was $54.1 million in 2012, down 4% from $56.5 million in 2011 primarily as a result of the completion of a large European Citizen ID program in the previous year, for which there were no new orders in 2012. Revenue from the Company's ID Product segment was $40.4 million, down 13% from $46.2 million in 2011 as a result of weaker demand for the Company's smart card readers for Citizen ID programs in Europe and deferrals of transponder product orders. These factors were partially offset by stronger sales of smart card readers to the U.S. government market to enable cyber security programs in 2012.

3 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs