REDWOOD SHORES, Calif., March 10 /PRNewswire-FirstCall/ -- (OTC Bulletin Board: CICI) -- Communication Intelligence Corporation ("CIC" or the "Company"), a leading supplier of electronic signature solutions for the financial industry and the recognized leader in biometric signature verification, announced today its financial results for the fourth quarter and the year ended December 31, 2007.
Revenue for the three months ended December 31, 2007 increased 63% to $800,000, compared to $492,000 for the corresponding prior year period. The Company reported a net loss of $644,000, or $0.01 per share on 129 million weighted average shares outstanding for the fourth quarter ending December 31, 2007, compared to a net loss of $881,000, or $0.01, on 107 million weighted average shares outstanding for the corresponding prior year period. The decrease in net loss is primarily due to an increase in revenue during the fourth quarter of 2007 compared to the corresponding period in 2006.
Revenue for the year ended December 31, 2007 was $2,145,000 compared to $2,342,000 for the year ended December 31, 2006. The decrease in revenues is primarily due to a decrease in maintenance revenues compared to the prior year period. Revenue for 2007 was primarily attributable to Access Systems of Americas, Inc. (formerly PalmSource, Inc.), Advanced Computer Technology, AEGON/World Financial Group, AIG/AGLA, Bank of America, Charles Schwab & Co., eCom Asia Pacific, Fidelity National Info Services/LSI, Fiserv/IntergraSys, IA Systems, Misys Healthcare Systems, Oracle Corporation, Prudential Financial Inc., Snap-on Credit LLC, Sony Ericsson Corp., Tennessee Valley Authority, and Wells Fargo Bank NA.
The net loss for the twelve months ended December 31, 2007 was
$3,399,000, or $0.03 per share, on 114 million weighted shares outstanding
compared to a net loss of $3,286,000 or $0.03 per share on 107 million
weighted average shares outstanding for the corresponding prior yea
|SOURCE Communication Intelligence Corporation|
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