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Aware, Inc. Reports Third Quarter 2009 Financial Results
Date:11/4/2009

BEDFORD, Mass., Oct. 20 /PRNewswire-FirstCall/ -- Aware, Inc. (Nasdaq: AWRE), a leading supplier of broadband technology and biometrics software, today reported financial results for its third quarter ended September 30, 2009.

Michael Tzannes, Aware's Chairman and Chief Executive Officer, said, "Earlier today, we announced an agreement to sell our DSL and home networking product lines to Lantiq, a new fabless semiconductor company being spun out of Infineon. This transaction represents the positive outcome that we have been seeking for our licensing business. We welcome you to join us today at 5:00 p.m. Eastern Time for a discussion of third quarter results and the transaction with Lantiq."

Revenues for the third quarter of 2009 were $6.2 million, a decrease of 3% compared to $6.4 million in the same quarter last year. For the nine months ended September 30, 2009, revenues decreased 10% to $16.6 million, compared to $18.4 million in the same period a year ago.

The Company reports its net income and basic and diluted net income per share in accordance with U.S. generally accepted accounting principles (GAAP), and additionally, on a non-GAAP basis. Non-GAAP net income, where applicable, excludes the effect of stock-based compensation expense. The Company uses the non-GAAP information internally to evaluate its operating performance and believes these non-GAAP measures are useful to investors as they provide additional insight into the underlying operating results. However, non-GAAP measures are not stated in accordance with, should not be considered in isolation from, and are not a substitute for, GAAP measures. A reconciliation of GAAP to non-GAAP results has been provided in the attached financial tables.

The GAAP net loss for the third quarter of 2009 was $1.1 million, or $0.06 per diluted share,
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SOURCE Aware, Inc.
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