ActivCard Anticipates 8th Consecutive Quarter of Record Revenue
FREMONT, Calif., Oct. 4 /PRNewswire/ -- ActivCard (Nasdaq: ACTI; Nasdaq Europe), a leading provider of smart card and digital identity provisioning products and technology, today provided a preliminary outlook for its third quarter ended September 30, 2001.
Despite negative global macro-economic conditions, the Company anticipates record revenue for its third quarter 2001 in the range of $8.6 million to $9.0 million, including $3.2 million from a non-monetary transaction. Revenue for the comparable period in 2000 was $5.1 million. The Company expects gross margins to be significantly higher than last quarter. Operating expenses, including recent acquisitions, are expected to be in the range of $12.3 million to $12.7 million and operating loss for the quarter is expected to be less than the $6.1 million loss reported for the second quarter of 2001.
``While difficult economic conditions, particularly in Europe, appear to have led to the deferral of orders from the third quarter to the fourth quarter and into 2002, the Company anticipates record third quarter consolidated revenues as well as record revenues in both the U.S. and Asia,'' said Blair Geddes, Chief Financial Officer of ActivCard.
Declining interest rates and a weaker U.S. Dollar contributed to lower interest income and a foreign exchange loss for the quarter. The variances in these non-operating items, compared to the second quarter of 2001, accounted for approximately $0.06 of the anticipated loss per share. The Company anticipates a loss per diluted share in the range of $0.10 to $0.12. The financial results are preliminary and are subject to further review by the Company and its auditors.
In connection with the non-monetary transaction, ActivCard signed two strategic, co-licensing, co-marketing and co-selling agreements with a major global service provider. These agreements combined with ActivCard's recent acquisition of Authentic8, have created a powerful product and services foundation for extremely large scale federated smart card and digital identity services. Government ID programs, healthcare privacy requirements, on-line financial services and corporate identity systems will benefit from a secure, cost effective, easy to deploy, use and manage digital identity solution. Details of this new relationship will be announced in the coming weeks.
ActivCard will release third quarter financial results on October 30, 2001, and expects to provide further guidance on the Company's future performance at that time.
About ActivCard
ActivCard, a leader in digital identity and electronic certification technology, delivers core components required to enable next generation e-Business communications and transactions. ActivCard solutions, in conjunction with the applications support for public key-based data confidentiality, and integrity, allow individuals and businesses to perform secure online transactions over the Internet with the ease-of-use of an ATM transaction. Today, more than 2 million people use ActivCard products for secure Internet banking, Web access and remote access to corporate networks. ActivCard has headquarters in Fremont, California, and Suresnes, France with worldwide operations in Australia, Germany, Japan, Sweden, Singapore, the United Kingdom and The Netherlands.
The statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties, including risks associated with fluctuations in operating results, international operations, acquisitions and managing the company's future growth, and other risks identified in the Company's periodic filings with the United States Securities and Exchange Commission, including but not limited to those appearing under the caption ``Risk Factors'' in the Company's annual report on Form 20-F. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ActivCard disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: ActivCard, Inc. |
