BEDFORD, Mass., April 27, 2012 /PRNewswire/ -- Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and DSL service assurance products, today reported financial results for its first quarter ended March 31, 2012.
Revenues for the first quarter of 2012 were $5.7 million, a decrease of 10% compared to $6.4 million in the same quarter last year. Net income for the first quarter of 2012 was $1.1 million, or $0.05 per diluted share. These results compared to net income of $590,000, or $0.03 per diluted share, for the same period a year ago.
Additional information regarding first quarter financial results is presented below:
Product revenue declined from $5.1 million in the first quarter of 2011 to $4.6 million this quarter. The decrease was due to a $0.9 million decrease in DSL service assurance hardware revenue and a $0.5 million decrease in DSL service assurance software revenue. Revenue decreases from these products were partially offset by a $0.9 million increase in biometrics and imaging software revenue.
The decrease in hardware revenue was mainly attributable to our decision in January 2012 to shutdown our DSL service assurance hardware product line. The decrease in DSL service assurance software revenue was primarily due to a decline in revenue from the sale of our LDP software. The increase in biometrics and imaging software revenue was primarily due to a strong quarter by our biometrics and imaging group that was driven by several larger-sized license transactions.
Services revenue declined from $829,000 in the first quarter of 2011 to $693,000 million this quarter. The decrease was primarily due to lower revenue from the sale of biometrics engineering services.
Royalties increased from $451,000 in the first quarter of 2011 to $491,000 this quarter. The increase was due to higher royalties rep
|SOURCE Aware, Inc.|
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