Beaverton, Ore. — October 22, 2014 — Digimarc Corporation (NASDAQ: DMRC) reported financial results for the third quarter ended September 30, 2014.
Third Quarter 2014 Results
Revenue for the third quarter of 2014 totaled $6.9 million compared to $7.4 million in the same quarter a year-ago. The decrease was due to lower license revenue primarily due to the scheduled completion of the quarterly license fee payments from The Nielsen Company in the first quarter of 2014.
Operating loss for the third quarter of 2014 totaled $3.2 million compared to operating loss of $2.0 million in the same quarter a year-ago. The operating loss was primarily due to lower license revenue and continued investment in the company’s product development and sales growth initiatives, mainly focused on Digimarc Discover and Barcode.
Net loss for the third quarter of 2014 totaled $2.0 million or $(0.28) per diluted share compared to a net loss of $0.8 million or $(0.12) per diluted share in the third quarter of 2013.
At September 30, 2014, cash, cash equivalents and marketable securities totaled $24.7 million compared to $27.9 million at June 30, 2014.
Digimarc will hold a conference call later today (Wednesday, October 22, 2014) to discuss these results, as well as provide an update on market conditions and execution of strategy. Chairman and CEO Bruce Davis and CFO Charles Beck will host the call starting at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). A question and answer session will follow management’s presentation.
The conference call will be broadcast simultaneously and available for replay via the investor section of the company's website at www.digimarc.com/investors/investor-events-and-webcasts.
For those who wish to listen to the call via telephone, please dial the telephone number below at least five minutes prior to the scheduled start time:
- Number: +1 866 562 9934
- Conference ID: 27179679
If you have any difficulty connecting with the conference call, please contact Liolios Group at 949-574-3860.
Digimarc Corporation (NASDAQ: DMRC), based in Beaverton, Oregon, is a leading innovator and provider of enabling technologies that create digital identities for all forms of media and many everyday objects. The embedded digital IDs are imperceptible to humans, but not to computers, networks and devices like mobile phones, which can now use cameras and microphones as sensory inputs to "see, hear and understand" the world around them within the context of their environment. Digimarc has built an extensive intellectual property portfolio with patents in digital watermarking, content identification and management, media and object discovery to enable ubiquitous computing and related technologies. Digimarc develops solutions, licenses its intellectual property, and provides development services to business partners across a range of industries. For more information and the latest news, please visit www.digimarc.com and follow us on Twitter @DigimarcCorp.
With the exception of historical information contained in this release, the matters described in this release contain various "forward-looking statements." These forward-looking statements include statements and any related inferences regarding impact of continued investments in product development and sales growth initiatives, and other statements identified by terminology such as "will," "should," "expects," "estimates," "predicts" and "continue" or other derivations of these or other comparable terms. These forward-looking statements are statements of management's opinion and are subject to various assumptions, risks, uncertainties and changes in circumstances. Actual results may vary materially from those expressed or implied from the statements in this release as a result of changes in economic, business and/or regulatory factors. More detailed information about risk factors that may affect actual results will be set forth in the company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2014 and in subsequent periodic reports filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date of this release. Except as required by law, Digimarc undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
Chief Financial Officer
+1 503 469 4721
Scott Liolios or Matt Glover
Liolios Group, Inc.
Investor Relations for Digimarc
+1 949 574 3860