Intellicheck Mobilisa Announces 2012 First Quarter Financial Results

Intellicheck Mobilisa (NYSE Amex: IDN) has released its financial results for the first quarter ended March 31, 2012.

Net income for the three months ended March 31, 2012 was $15,000 or $0.00 per diluted share compared to a net loss of $(708,000) or $(0.03) per diluted share for the three months ended March 31, 2011. Revenues for the quarter ended March 31, 2012, decreased 5% to $2.711 million compared to $2.856 million in the same period of the previous year. Adjusted EBITDA was $314,000 for the first quarter of 2012 compared to $(356,000) for the first quarter of 2011. The Company’s backlog, which represents non-cancelable sales orders for products not yet shipped and services to be performed, was approximately $1.6 million at March 31, 2012, compared to $1.5 million at March 31, 2011.

Steve Williams, CEO of Intellicheck Mobilisa, commented, “We have experienced our best 12-month period since the founding of the Company and anticipate growing our revenue throughout the rest of 2012 and beyond. I look forward to speaking with investors during our conference call later today.”

Q1 2012 and Recent Highlights:
  • Fourth consecutive quarter of positive EBITDA and the first profitable 12-month period in Company history
  • Commercial Identity Group enters into contract with major international banking firm to incorporate ID Check into the teller transaction system
  • New patent issued for document comparison
  • ATO (authority to operate) issued by the U.S. Marine Corps
  • Aegeus Buoy System participates in real-world exercise

Conference Call Information

IDN will host a conference call for members of the investment community today at 1:00 p.m. Eastern / 10:00 a.m. Pacific Time. Interested parties should dial (877) 407-8037 approximately 10 minutes before the scheduled beginning. For callers outside the U.S., please dial (201) 689-8037. The slides may be viewed at: http://www.investorcalendar.com/IC/CEPage.asp?ID=168225 and will also be available on our website www.icmobil.com under Investor Relations. For those unable to participate in the live conference, a recording will be available for 48 hours after the call. The recording can be accessed by dialing (877) 660-6853 and (201) 612-7415 for international callers. The account access code is 327 and the replay ID is 392450. After the 48-hour window, please visit the Investor Relations portion of our website at www.icmobil.com for rebroadcast.

About Intellicheck Mobilisa

Intellicheck Mobilisa (ICMOBIL) is a leading technology company that is engaged in developing and marketing wireless technology and identity systems for various applications, including mobile and handheld access control and security systems for the government, military and commercial markets. ICMOBIL’s products include the Fugitive Finder system, an advanced ID card access control product currently protecting approximately 100 military and federal locations; ID Check, a patented technology that instantly reads, analyzes, and verifies encoded data in magnetic stripes and barcodes on government-issued IDs from U.S. and Canadian jurisdictions, designed to improve the Customer Experience for the financial, hospitality and retail sectors; and Aegeus, a wireless security buoy system for the government, military and oil industry.

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