Aware, Inc. Reports Second Quarter 2009 Financi...( BEDFORD Mass. July 30 FirstCall...)

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

Revenues for the second quarter of 2009 were $5.8 million, a decrease of 7% compared to $6.2 million in the same quarter last year. For the six months ended June 30, 2009, revenues decreased 14% to $10.3 million, compared to $12.0 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 second quarter of 2009 was $1.6 million, or $0.08 per diluted share, which included $0.4 million of stock-based compensation charges in accordance with the provisions of FAS 123(R). This compared to a GAAP net loss of $1.3 million, or $0.05 per diluted share, for the same period a year ago. GAAP net loss for the six months ended June 30, 2009 was $3.7 million, or $0.17 per share, compared to a net loss of $2.5 million, or $0.11 per share, for the same period a year ago.

The non-GAAP net loss for the second quarter
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