REDWOOD SHORES, Calif., Aug. 14 /PRNewswire-FirstCall/ -- Communication Intelligence Corporation (OTC Bulletin Board: CICI) ("CIC" or the "Company"), a leading supplier of electronic signature solutions for business process automation in the Financial Industry and the recognized leader in biometric signature verification, announced today its financial results for the three and six-month periods ended June 30, 2007.
Total revenue of $555,000 for the three month period ended June 30, 2007 increased 24% compared to $448,000 in the corresponding three month period of the prior year and increased 66% over the first quarter of 2007. Revenue for the second quarter of 2007 was primarily attributable to Advanced Computer Technology, County of Summit Ohio, IntegraSys/Fiserv, Misys Healthcare Systems, Norfolk Circuit Court, PalmSource Inc., Prudential Financial Inc., Snap-On Credit LLC, the Tennessee Valley Authority, Wells Fargo Bank NA and one of the world's largest financial institutions.
The Company's net loss applicable to common stockholders for the three
month period ended June 30, 2007 was $843,000 compared to a net loss of
$925,000 for the corresponding prior year period. The operating loss for
the three months ended June 30, 2007, before interest expense and
amortization of the loan discount, warrants and prepaid financing cost, was
$558,000 compared to an operating loss of $812,000 in the prior year
period. Non-operating expenses for the three months ended June 30, 2007
were $285,000 compared to $113,000 for the corresponding prior year period.
Non-cash loan amortization expense, included in non-operating expense for
the three months ended June 30, 2007, was $215,000 compared to $104,000 in
the corresponding prior year period. This increase is attributable to
additional amortization of warrant costs associated with financings
completed late in 2006 and during the six months ended June 30, 2007.
Amortization of loan discount and prepaid financing c
|SOURCE Communication Intelligence Corporation|
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