Identity Group has reported revenue of $21.2m for the second quarter of 2010, an increase of 93% as compared to $11.0m for the same period last year.
The company posted a gross profit of $9.8m in Q2 2010 as compared to $5.8m of the same period the prior year.
For the quarter ended June 30, 2010, the company reported an operating loss of $1.7m as compared to 41.9m in Q2 2009. Net loss per share remained flat at $0.02 in the quarter.
Ayman S. Ashour, CEO and chairman of Identive Group, said: "Identive made good progress towards establishing a profitable business model in Q2, as strong sales growth was supported by significant reductions in our overhead cost structure, allowing us to reach profitability on the adjusted EBITDA line."
"A strong order book position at the end of Q2 is a reflection of the increased demand for our products, systems and solutions to address emerging identity management applications such as Citizen ID cards, ePayment schemes and the convergence of logical and physical access control in employee ID and security applications."
