Aware, Inc. (AWRE) has reported a 36.22 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $0.40 million, or $0.02 a share in the quarter, compared with $0.64 million, or $0.03 a share for the same period last year.
Revenue during the quarter dropped 10.07 percent to $4.35 million from $4.83 million in the previous year period. Gross margin for the quarter expanded 302 basis points over the previous year period to 89.35 percent. Total expenses were 91.12 percent of quarterly revenues, up from 81.80 percent for the same period last year. That has resulted in a contraction of 932 basis points in operating margin to 8.88 percent.
Operating income for the quarter was $0.39 million, compared with $0.88 million in the previous year period.
Kevin Russell, Aware's chief executive officer and president, said "Our revenue and operating income for the first quarter were consistent with our expectations. Our pipeline for 2017 looks promising, but we are unable to predict when opportunities will result in revenue. We continue to make investments in product and market initiatives in order to grow our business in the government, commercial and mobile markets."
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