Aware, Inc. (NASDAQ: AWRE) reported revenue for the third quarter of 2014 was USD6.0 million, an increase of 40 percent compared to USD4.3 million in the same quarter last year.
Operating income in the third quarter of 2014 was USD4.1 million compared to USD1.0 million in the third quarter of 2013. The company said the higher operating income in the current three month period was primarily due to a USD1.0 million increase in operating income from biometrics business operations and a USD2.1 million gain on the sale of patent assets pertaining to DSL diagnostic technology. The USD1.0 million increase in operating income from biometrics was driven by higher software license and service revenue, which was partially offset by higher engineering and sales expenses.
Net income in the third quarter of 2014 was USD2.6 million, or USD0.11 per diluted share, which compares to a net loss of USD1.2 million, or USD0.05 per diluted share, in the same period a year ago. Net income in the year ago quarter included a USD1.9 million loss from discontinued operations.
Aware is a leading provider of biometrics software products and development services to governments, system integrators, and solution providers globally. The company is based in Bedford, Massachusetts.