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Aware, Inc. Message Board

  • elitecrete1 elitecrete1 Feb 5, 2013 2:51 AM Flag

    2012 operating income actually looks pretty good so far.

    I'd be surprised if we see any revenue (or disclosure) from the HA settlement until Q1/2013. Those results are due mid May.

    My guess for Q4/2012, is that if everything remains the same, we should expect OPERATING Revenue between $5-6M, and Net OPERATING earnings $0.5 - 1.0M.

    If that is the case, that would put 2012 Net OPERATING earnings gain at a much improved:

    2012....... $3.4M to 3.9M

    Compared to:
    2011........$ 2.5M
    2010........$(0.33)M loss
    2009........$(5.48)M loss
    2008........$ 1.26M
    2007........$(1.83)M loss
    2006........$(0.41)M loss
    2005........$(3.62)M loss

    Of course Aware mgt will put the worst possible spin on the 10K press release headline, but there is no denying that 2012 results were a significant improvement over the past 7.

    Sentiment: Strong Buy

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    • Updated annual numbers for OPERATING earnings given Q4/12 of $1.68M

      2012....... $4.293M
      2011........ $3.312M (inexplicably revised from)$ 2.5M??
      2010........$(0.33)M loss
      2009........$(5.48)M loss
      2008........$ 1.26M
      2007........$(1.83)M loss
      2006........$(0.41)M loss
      2005........$(3.62)M loss

      Total OPERATING Revenue remains flat however. This reflects elimination of DSL hardware operations.

      Sentiment: Strong Buy

    • I think some of you guys had unrealistic expectations. All in all today's news is exactly what I expected.

      http://finance.yahoo.com/mbview/threadview/;_ylt=AjlMLfpBGl0928sX5EDYIk4LH4hG;_ylu=X3oDMTFqNXBlMjRpBG1pdANNZXNzYWdlIEJvYXJkcyB3aWRnZXQEcG9zAzEwBHNlYwNNZWRpYU1zZ0JvYXJkcw--;_ylg=X3oDMTFlamZvM2ZlBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3?&bn=7ffd85d9-3a3e-3de5-8490-d304ccd9f864&tid=1360050691261-c57f633b-80d9-4124-93cd-369104b18ac6&mid=

      Sentiment: Strong Buy

      • 1 Reply to elitecrete1
      • BTW...In the 8k dated Feb 14, 2012 (Q4/2011) they reported operating income as:...
        Income (loss) from operations for the year as... $2,486,000

        In today's 8K, They revised that 2011 line item AND AMOUNT to:...
        Operating income before patent related income...$3,312,000

        How can they do that??

        FWIW, 2012 annual Operating income before patent related income....$4,293 ,000

        More than respectable improvement.

        Sentiment: Strong Buy

    • Operating earnings

      2012....... $3.4M to 3.9M estimated
      2011........$ 2.5M
      2010........$(0.33)M loss
      2009........$(5.48)M loss
      2008........$ 1.26M
      2007........$(1.83)M loss
      2006........$(0.41)M loss
      2005........$(3.62)M loss
      ----------
      Imagine the disastrous 2008 operating loss, had Aware not classified the Daphimo sale as 'contract revenue' rather than a 'gain on sale of assets' as they did with all the subsequent patent sales...Read from the 2008 10K:

      "Contract revenue increased 131% from $6.3 million in 2007 to $14.7 million in 2008. As a percentage of total revenue, contract revenue increased from 24% in 2007 to 48% in 2008. The dollar increase was primarily due to an $8.5 million sale of patents relating to communications technology in 2008, whereas there were no patent sales in 2007"

      Still no explanation of why it was classified differently other than the obvious one which was to cover up poor management performance, I think this got the Stafford's attention that they were being played for fools.

      Sentiment: Strong Buy

    • Would like to hear some valid arguments for why Aware can wait until mid May to announce HA income beyond the simple "we will recognize income in the quarter in which it earned" in light of the fact that they announced the Intel patent sale on April 27 and didn't close on it until June 21. Why didn't they wait until mid August to recognize this revenue? They are both patent monetization. What is the benefit to Aware of waiting? Stafford can buy more shares? Weak hands might sell?
      What detriment is it to Aware? Shareholder lawsuits? Information leaks lead to people trading on inside info. It would seem to me Stafford couldn't buy more until he fully disclosed HA and even then he has Daphimo and TQ Delta to contend with.

    • I would imagine the earnings could even be better. None of the Tzanni are on the payroll. Even our pal Alexs has left. Agreed, probably all Stafford skinnying it down for liquidation. Watch the headcount number and bring on the dividends!

    • Agreed EC. Yet the market places a big $0 on Aware's operation. Profits have grown without any revenue growth. In fact its worse than that. Revenues are likely to drop 20-25% for 2012. We'll have to hit the top of your range for Q4 to reach 20MM$ for 2012. The present TTM revenues are worse than they were in 2008 even with Daphimo netted out.

      This operation kept the lights on while IP was brought to monetization. Management has no strategic focus. We have no proven leaders who understand the industry. I am grateful the ops are not consuming cash and I think Stafford drove this, but its pretty clear why the market shrugs. This has to be sold, the sooner the better.

 
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4.12+0.02(+0.49%)Aug 29 4:00 PMEDT

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