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Identive Group Announces First Quarter 2013 Results

Stocks in this article: INVINVE

Cash and cash equivalents were $5.5 million at March 31, 2013 compared with $7.4 million at December 31, 2012. Net decrease in cash was $1.9 million reflecting a small amount of cash provided by operations, $1.1 million used for capital expenditures and $1.0 million used for payment of financial liabilities. In anticipation of a stronger Q2, inventory built of $1.8 million was a significant part of the cash used in operations.

David Wear, chief financial officer of Identive stated, "Our recent addition of an equity line brings growth capital into the Company and allows us to control the timing and amount of new stock we issue while meeting our goal of minimizing dilution for our shareholders. The equity line enables us to optimize our production capacity and provides additional working capital to address growing demand for our ID Products. Furthermore this new capital will allow us to maintain necessary levels of time-sensitive investment in our products and solutions in emergent areas such as NFC and Identity as a Service, where market demand is building."

Outlook for Q2 2013

Based on its current expectations and the continued uncertainty associated with the U.S. Government business, management expects revenues of $22.0 million to $26.0 million for the second quarter of 2013, and further expects adjusted EBITDA of $(0.5) million to $0.5 million. For full year 2013, management expects revenues of $105.0 million to $110.0 million and adjusted EBITDA of $2.0 million to $6.0 million.

Conference Call and Webcast Information

Identive Group will host a conference call and webcast today at 9:00 AM Eastern Time, which can be accessed by dialing 888.771.4371 (toll free within the U.S.) or +1 847.585.4405 (for international callers) and using pass code 34764421. A webcast of the call that includes presentation slides can be accessed by visiting the investor relations section of the Company's website at www.identive-group.com , and by clicking on "Presentations, Reports & Webcasts," where it also will be archived for those unable to listen to the live webcast. An audio replay of the call also will be available for one week and can be accessed by dialing 888.843.7419 (toll free within the U.S.) or +1 630.652.3042 (for international callers) and using pass code 34764421.

About Identive Group

Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV) is focused on building the world's signature company in Secure ID. The company's products, software, systems and services address the markets for identity management, physical and logical access control, cashless payment, NFC solutions and a host of RFID-enabled applications for customers in the government, enterprise, consumer, education and healthcare sectors. Identive's mission is to build a lasting business of scale and technology based on a combination of strong technology-driven organic growth and disciplined acquisitive expansion. The company delivers up-to-date information on its activity as well as industry trends through its industry-leading social media initiatives and educational resource, AskIdentive.com. For additional information, please visit www.identive-group.com or follow on Twitter at @IdentiveGroup.

Non-GAAP Financial Measures (Unaudited)

Identive has provided in this release financial information that has not been prepared in accordance with GAAP, including non-GAAP gross profit margin, adjusted EBITDA and non-GAAP net income (loss) and net income (loss) per share. Identive uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating Identive's ongoing operational performance. Identive believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. As noted, the non-GAAP financial results discussed above exclude items detailed in the reconciliation table and accompanying footnotes contained within this release. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures as detailed in this release.

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