Intellicheck Mobilisa has reported total net revenue of $3m for the second quarter of 2010, a decrease of 23% compared to $3.93m for the same period last year.
For the second quarter ended 30 June 2010, the company posted net loss of $601,650 as compared to a net income of $472,993 for the same quarter a year ago. Net loss per diluted share was $0.02 as compared to net income of $0.02 for the same period last year.
The company posted adjusted EBITDA for the second quarter of 2010 was negative $197,003 compared to positive $853,501 in the second quarter of 2009.
The decrease in revenues in the second quarter of 2010 is primarily a result of approximately $1.1m in sales to a telecommunications company in the second quarter of 2009, including an enterprise wide software license and hardware sales.
Intellicheck Mobilisa CEO Nelson Ludlow said that the company posted respectable results generated solely from our base sales, and not skewed by a singular large dollar contract, and it saw growth in its banking products and repeat customer purchases.
"We are very pleased to have added to the business development team and have significantly increased our pipeline of future opportunities," Ludlow said.
