Aware, Inc. has posted its results for the second quarter of 2017.
Compared to Q2 of 2016, revenues were down by 60 percent, coming in at $2.7 million, against $6.9 million last year. Net income came in at $0.2 million, compared to $1.4 million in Q2 of 2016.
Looking more broadly to the first half of the year, revenues came in at $7.1 million, compared to $11.7 million in the first six months of 2016. And net income for the first six months of 2017 was $0.6 million, compared to $2.1 million for the same period last year.
In a statement announcing the results, Aware suggested that the changes reflect the particularly strong business results of Q2 of 2016, when the company say a large software sale to a US military client and revenue from a licensing deal in the medical sector. The company also noted that it has not seen any hardware sales in 2017.
Commenting on the results, Aware CEO Kevin Russell emphasized that the company’s “quarterly revenue and earnings fluctuate based on project wins and the timing of the delivery of licenses and services for those projects,” adding, “The ability to forecast the timing of revenue remains a challenge.” But Russell also said the company’s management “continue to be encouraged” by market interest in Aware’s biometric solutions.
July 26, 2017 – by Alex Perala