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Technology Stocks : Aware, Inc. - Hot or cold IPO? -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (6772)	7/21/1999 4:27:00 PM
From: Paul Lee	Respond to of 9236

BEDFORD, Mass.--(BUSINESS WIRE)--July 21, 1999--Aware, Inc. (NASDAQ:AWRE), a worldwide leader in DSL (digital subscriber line) technology for high-speed Internet access over existing telephone networks, today reported financial results for its second quarter ended June 30, 1999. Second quarter 1999 revenue increased 94 percent to $4.7 million, compared to $2.4 million for the quarter ended June 30, 1998. Net income for the quarter was $919,000, or 4 cents per diluted share, which compares to a net loss of $1.3 million, or minus 6 cents per diluted share for the same quarter last year. For the six months ended June 30, 1999, revenue increased 103 percent to $9.0 million, compared to $4.4 million in the same period last year. Net income for the first six months of 1999 was $1.6 million, or 7 cents per share, which compares to a net loss of $2.7 million, or minus 14 cents per share, for the first six months of 1998. Commenting on the company's second quarter results, President and Chief Executive Officer Michael A. Tzannes stated: "Record revenue and profitability this quarter are due to the combination of a rapidly growing DSL market, Aware's technology leadership position within the industry, and our intellectual property licensing business model. We are encouraged with how the industry and Aware are progressing." Focusing on the DSL market, he noted: "Telephone companies and service providers from around the world are rolling out high-speed DSL services driven by tremendous consumer demand, global standards, and equipment interoperability. Current industry estimates are that DSL will be available to tens of millions of subscribers by the end of this year. The industry reached a significant milestone this June when the International Telecommunication Union approved both the G.992.2 G.Lite standard and the G.991.1 full-rate ADSL standard. This was a terrific accomplishment for the industry and Internet users have already begun to see the positive effects of these standards." Turning to Aware's accomplishments this quarter, he said: "Our success within the industry is clearly attributable to our technology leadership. Because of this leadership, we continue to be first in market share, interoperability and semiconductor customer relationships. We also continued to expand our customer base this quarter by entering into a license agreement with NEC Corporation to offer Aware's G.992.2 technology and software on their recently launched full-rate ADSL chipset as well as within their world-class system-on-a-chip solutions."