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Aware, Inc. Reports Third Quarter 2012 Financial Results
Date:10/25/2012

BEDFORD, Mass., Oct. 24, 2012 /PRNewswire/ -- Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and DSL service assurance products, today reported financial results for its third quarter ended September 30, 2012. The financial results for our DSL service assurance hardware business have been reported as discontinued operations commencing this quarter as we completed the shutdown of that business during the third quarter. Accordingly, results from continuing operations now exclude our DSL service assurance hardware business.

Revenue for the third quarter of 2012 was $5.3 million, a decrease of 3% compared to $5.4 million in the same quarter last year. Operating income before gain on sale of patent assets in the third quarter of 2012 was $1.4 million compared to $1.6 million for the same period a year ago.

Net income for the third quarter of 2012 was $10.3 million, or $0.46 per diluted share. These results compared to net income of $1.3 million, or $0.06 per diluted share, for the same period a year ago.  Net income in the third quarter of 2012 included a net gain of $15.2 million from the sale of patent assets.

For the nine months ended September 30, 2012, revenue decreased 1% to $14.2 million, compared to $14.3 million in the same period a year ago. Operating income before gain on sale of patent assets for the first nine months of 2012 was $2.6 million compared to $2.1 million for the same period a year ago.

Net income for the nine months ended September 30, 2012 was $66.3 million, or $3.03 per diluted share. These results compared to net income of $1.6 million, or $0.08 per diluted share, for the same period a year ago. Year-to-date net income in 2012 included $86.4 million of net gains from the sale of patent assets in the second and third quarters of 2012.

As we previously disclosed, we completed two significant pat
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SOURCE Aware, Inc.
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