Aware, Inc. (AWRE) has reported a 28.40 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $1.57 million, or $0.07 a share in the quarter, compared with $2.20 million, or $0.10 a share for the same period last year.
Revenue during the quarter surged 45.98 percent to $5.90 million from $4.04 million in the previous year period. Gross margin for the quarter expanded 782 basis points over the previous year period to 97.53 percent. Total expenses were 60.79 percent of quarterly revenues, down from 89.38 percent for the same period last year. This has led to an improvement of 2859 basis points in operating margin to 39.21 percent.
Operating income for the quarter was $2.31 million, compared with $0.43 million in the previous year period.
Rick Moberg, Aware’s co-chief executive officer and chief financial officer, said "The financial performance of our business was excellent this quarter after a strong second quarter. Once again, revenue and operating earnings were heavily influenced by a large license sale to a systems integrator for a U.S. government end user. Our reliance on large license sales to government customers over the last few quarters is representative of the nature of our business at the moment. While our government business continues to provide attractive earnings and cash flow, we are making strides towards expanding our business into commercial and mobile markets."
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