Record Quarterly Revenue Drives Profitability and Positive Net Cash Flow
MELBOURNE, Fla.--(BUSINESS WIRE)--AuthenTec (NASDAQ:AUTH), a leading provider of mobile and network security, today reported financial results for the third quarter ended September 30, 2011.
Highlights:
- Third quarter revenue increased 19 percent sequentially to $19.3 million
- Smart Sensor revenue grew 6 percent sequentially and 98 percent year over year
- Embedded Security revenue grew 49 percent sequentially and 75 percent year over year
- GAAP net income of $0.2 million and non-GAAP net income of $1.7 million, or 4 cents non-GAAP EPS
- Achieved positive net cash flow during the quarter
AuthenTec achieved record revenue of $19.3 million for the third quarter of 2011, which was above the Company’s guidance of $18.2 million to $19.2 million. Third quarter revenue was comprised of $12.0 million from Smart Sensor Solutions and $7.3 million from Embedded Security Solutions. This compares to revenue of $16.2 million in the second quarter of 2011, which consisted of $11.3 million from the Smart Sensor segment and $4.9 million from Embedded Security, and total revenue of $10.2 million in the third quarter of 2010, which consisted of $6.1 million from Smart Sensor and $4.1 million from Embedded Security.
