“In explaining the strong revenue and income performance for 2016, Aware credited major biometric licensing sales to the US Marine Corps, the Navy, and a government integrator.”
Aware, Inc. has announced its Q4 and year-end results for 2016.
Compared to Q4 of 2015, revenues were down, from $6.9 million to $3.9 million. Operating income also showed a decline, reaching only $0.6 million compared to $2.6 million in 2015’s final quarter.
But Q4 of 2015 was a particularly strong one, with strong revenues from licensing sales and a large government order for Aware’s biometric hardware. Looking at the totals per annum, it’s clear that 2016 was “a year of strong financial performance” for Aware, as CEO Rick Moberg put it in a statement announcing the results. Total revenues came in at $21.6 million, up from 2015’s $19.6 million. And operating income rose from $3.9 million to $5.9 million.
Net income, meanwhile, dipped from $4.6 million in 2015 to $4.1 million last year, but 2015 did see a $1.9 million income tax credit the company received due to the reversal of a tax reserve that was no longer needed after an IRS audit.
In explaining the strong revenue and income performance for 2016, Aware credited major biometric licensing sales to the US Marine Corps, the Navy, and a government integrator. Looking ahead, Moberg said the company will focus “on growing the government, commercial, and mobile parts of our business.”
(Originally posted on FindBiometrics)