Aware, Inc. Reports 2005 Second Quarter Financial Results

BEDFORD, Mass., Aug. 4 /PRNewswire-FirstCall/ -- Aware, Inc. (NASDAQ: AWRE), a worldwide leader and innovator of broadband intellectual property, today reported financial results for its second quarter ended June 30, 2005.

Revenues for the second quarter of 2005 were $2.7 million compared to $3.7 million for the same period last year. Net loss for the second quarter of 2005 was $1.5 million, or $0.07 per share, compared to a net loss of $0.8 million, or $0.04 per share, for the year-ago period.

For the six months ended June 30, 2005, revenues were $6.9 million compared to $7.3 million in the same period last year. Net loss for the six months ended June 30, 2005 was $1.8 million or $0.08 per share, compared to a net loss of $2.0 million, or $0.09 per share, for the year-ago period.

Michael Tzannes, Aware's chief executive officer commented, "We are increasingly confident that our StratiPHY(TM) product family combined with our business model are a recipe for success. We invite you to listen to our conference call today, where we will layout a detailed roadmap for our licensing business and the reason for our optimism." Specifically, Aware will present:

    * Changes underway in the ADSL industry and why they are positive for
      Aware
    * The economic challenges facing the DSL semiconductor industry
    * The Aware solution and why and how Aware can succeed
    * Reasons we are on the right track

"We will also discuss progress in our test and diagnostics and biometrics and medical imaging product and market development efforts."

Tzannes added, "From the conclusion of today's conference call until Monday, August 8 at 5:00 p.m., we invite interested parties to submit investor questions via email to Email Contact. We will post questions and answers later in the week on our website."

Note: Aware's conference call will be broadcast live over the Internet today, August 4, 2005 at 5:00 p.m. Eastern Time. To listen to the call, please go to http://www.aware.com, and click on "Investor Relations." The conference call may also be heard by calling (719) 457-2629 and referencing the confirmation number 4164001. A replay of the call will be archived on our website after the call.

About Aware

Aware, Inc. designs, develops, licenses and markets DSL technologies that enable broadband communications over existing telephone networks. Its solutions, including splitterless G.lite, full-rate ADSL, ADSL2, ADSL2+, VDSL2, Bonded ADSL2+, Dr. DSL(R), StratiPHY(TM), StratiPHY-Bonded(TM), StratiPHY2+(TM), StratiPHY3(TM) and G.SHDSL, address central office as well as customer premise requirements. Aware is also a leading provider of standards- based biometric transaction and image compression software toolkits. More information can be found at http://www.aware.com.

Safe Harbor Warning

Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as estimates or projections of future revenue and earnings and the growth of the DSL market. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements. These factors include, but are not limited to: we have a unique business model, our quarterly results are difficult to predict, we depend on a limited number of licensees, we derive a significant amount of revenue from a small number of customers, we depend on equipment companies to incorporate our technology into their products, we face intense competition from other DSL vendors, DSL technology competes with other technologies for broadband access, and our business is subject to rapid technological change. We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our quarterly report on Form 10-Q for the quarter ended March 31, 2005 and other reports and filings made with the Securities and Exchange Commission.

Dr. DSL, StratiPHY, StratiPHY2+, StratiPHY3, and StratiPHY-Bonded are trademarks or registered trademarks of Aware, Inc.


                                 AWARE, INC.
                    CONSOLIDATED STATEMENTS OF OPERATIONS
                    (In thousands, except per share data)

                             Three Months Ended          Six Months Ended
                                  June 30,                   June 30,
                              2005         2004          2005        2004

    Revenue:
     Product sales            $785       $1,028       $1,746       $2,251
     Contract revenue          978        1,791        3,141        3,069
     Royalties                 920          906        2,020        2,007
      Total revenue          2,683        3,725        6,907        7,327

    Costs and expenses:
     Cost of product sales      62          195          122          532
     Cost of contract
      revenue                  718          653        1,558        1,320
     Research and
      development            2,360        2,503        4,913        5,174
     Selling and marketing     710          667        1,343        1,271
     General and
      administrative           627          630        1,296        1,223
      Total costs and
       expenses              4,477        4,648        9,232        9,520

    Loss from operations   (1,794)             (923)            (2,325)            (2,193)
        Interest  income                        272                    115                    489                    238

        Loss  before  provision
          for  income  taxes          ($1,522)                (808)            (1,836)            (1,955)
        Provision  for
          income  taxes                                -                        -                        -                        -

        Net  loss                            ($1,522)              ($808)          ($1,836)          ($1,955)


        Net  loss  per  share
          -  basic  and  diluted      ($0.07)            ($0.04)            ($0.08)            ($0.09)

        Weighted  average
          shares  -  basic
          and  diluted                        23,019              22,766              22,982              22,759


                                                                  AWARE,  INC.
                                        CONDENSED  CONSOLIDATED  BALANCE  SHEETS
                                                                (In  thousands)

                                                                                                        June  30,        December  31,
                                                                                                            2005                      2004

        ASSETS
          Cash  and  investments                                                        $38,748                $38,266
          Accounts  receivable,  net                                                    1,926                    3,070
          Property  and  equipment,  net                                              8,133                    8,287
          Other  assets,  net                                                                      638                        560

          Total  assets                                                                        $49,445                $50,183


        LIABILITIES  AND  STOCKHOLDERS'  EQUITY

          Total  current  liabilities                                                $1,976                  $1,427

          Total  stockholders'  equity                                              47,469                  48,756

          Total  liabilities  and  stockholders'  equity            $49,445                $50,183
 


1 | 2  Next Page »



Review Article Be the first to review this article

 Advanced Asembly

Featured Video
Editorial
Roberto FrazzoliEDACafe Editorial
by Roberto Frazzoli
IBM’s 2nm chip; EDA updates; AI updates; acquisitions
More Editorial  
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Next Week’s Main Event: The ESD Alliance CEO Outlook
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Automating the UVM Register Abstraction Layer (RAL)
Jobs
Electronics Engineer for Lockheed Martin at Sunnyvale, California
ASIC Engineer for Juniper Networks at Sunnyvale, California
Business Operations Planner for Global Foundaries at Santa Clara, California
Principle Engineer (Analog-Mixed-Signal Implementation) for Global Foundaries at Santa Clara, California
Sr Engineer - RF/mmWave IC Design for Global Foundaries at Santa Clara, California
Senior HID Sensor Algorithm Architect for Apple Inc at Cupertino, California
Upcoming Events
DVCon China 2021 at Shanghai China - May 26, 2021
CadenceLIVE Americas 2021 at United States - Jun 8 - 9, 2021
DesignCon 2021 at San Jose McEnery Convention Center San Jose, CA San Jose CA - Aug 16 - 18, 2021
SEMICON Southeast Asia 2021 Hybrid Event at Setia SPICE Convention Centre Penang Malaysia - Aug 23 - 27, 2021
Verific: SystemVerilog & VHDL Parsers



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise