Why Intellicheck Mobilisa (IDN) Is Plummeting on Tuesday

NEW YORK (TheStreet) -- Intellicheck Mobilisa (IDN) was tanking in pre-market trading Tuesday after reporting its fourth-quarter results. Though revenue soared and net losses narrowed over the three months to December, the company's full-year sales were less than the same period a year earlier and net losses had widened.

Before the bell, shares had plummeted 20.3% to $1.30.

The mobile security software developer recorded fourth-quarter sales 159% higher year on year to $1.366 million and a net loss of 2 cents a share compared to a loss of 7 cents a share in the year-ago quarter.

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The results came in lower than its September-ended third quarter. Over that period, the Port Townsend, Wash.-based business recorded revenue of $2.58 million, a 21.7% year-over-year increase, and break-even earnings.

Over fiscal 2013, revenue tumbled 17.1% to $7.299 million and net losses of 9 cents a share were a penny wider than the year earlier.

TheStreet Ratings team rates INTELLICHECK MOBILISA INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate INTELLICHECK MOBILISA INC (IDN) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and weak operating cash flow."

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