REDWOOD SHORES, Calif., Oct. 23 /PRNewswire-FirstCall/ -- (OTC Bulletin Board: CICI) Communication Intelligence Corporation ("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 nine-month periods ended September 30, 2008.
Total revenues for the three months ended September 30, 2008 were $721,000 compared to revenues of $456,000 in the corresponding prior year period, an increase of $265,000, or 58%. Orders received during the three months ended September 30, 2008, however, were $1,350,000, $629,000 higher than revenue recognizable for that period. The Company expects at least $525,000 of such orders to be recognized as revenue in the fourth quarter of 2008. Revenues were primarily attributable to Altria, Fiserv/Integrasys, Palm Inc., Phoenix Life Insurance, Prudential Insurance, Sony Ericsson, Snap-on Credit, Misys Healthcare, Travelers Insurance and Wells Fargo Bank.
The operating loss for the three months ended September 30, 2008,
before interest expense and amortization of the loan discount, and deferred
financing cost, was $487,000 compared to an operating loss of $605,000 in
the prior year period. The improvement in the operating loss is due
primarily to an increase in revenue and reduced operating expenses,
excluding cost of sales. The Company's net loss applicable to common
stockholders for the three month period ended September 30, 2008 was
$776,000, compared to a net loss of $1,105,000 for the corresponding prior
year period, a decrease of 30%. Non-operating expenses for the three months
ended September 30, 2008, including interest expense, deferred financing
costs and non-cash amortization of loan discounts, decreased by $232,000 to
$268,000 compared to $500,000 for the corresponding prior year period, a
decrease of 46%. The basic and d
|SOURCE Communication Intelligence Corporation|
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