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Technology Stocks : AWARE -- Ignore unavailable to you. Want to Upgrade?

To: Scrapps who wrote (370)	7/25/2000 4:08:59 PM
From: max power	Respond to of 2404

Aware, Inc. Reports Record Revenue and Profitability for Second Quarter 2000; Net Income Jumps 182% in Seventh Consecutive Profitable Quarter BEDFORD, Mass.--(BUSINESS WIRE)--July 25, 2000--Aware, Inc. (NASDAQ: AWRE), a worldwide leader in DSL (digital subscriber line) technology for high-speed Internet access over existing telephone networks, today reported record financial results for its second quarter ended June 30, 2000. Second quarter 2000 revenue increased 53 percent to $7.2 million, compared to $4.7 million for the quarter ended June 30, 1999. Net income for the quarter increased 182 percent to $2.6 million, or 11 cents per diluted share, compared to net income of $919,000, or 4 cents per diluted share for the same quarter last year. For the six months ended June 30, 2000, revenue increased 51 percent to $13.6 million, compared to $9.0 million in the same period last year. Net income for the first six months of 2000 increased 194 percent to $4.7 million, or 20 cents per diluted share, compared to net income of $1.6 million, or 7 cents per diluted share, for the first six months of 1999. Commenting on Aware's financial performance, Michael Tzannes, president and chief executive officer, said: "This was another excellent quarter for Aware. We have been profitable for seven consecutive quarters and our results this quarter reflect the continued success of our customers' DSL chipsets as well as increased demand for our DSL technology by semiconductor companies." Further commenting on financial results, Tzannes added: "For the second quarter in a row, royalty revenue represented 40% or more of our total revenue. Contract revenue, which is generated from chipset developments with our semiconductor customers, was a record this quarter. Five customers each accounted for approximately 10% or more of contract revenues." Continuing, he said: "We are at various stages of development on more than ten chipsets with seven customers. These DSL chipsets are targeted at numerous equipment architectures for the growing central office (CO) and customer premises equipment (CPE) markets, and each one represents an opportunity for future royalty revenues." Tzannes also commented: "Analog Devices, which has now shipped three chipset generations based upon our technology in high volumes, made several significant announcements this quarter. ADI expects to sell more than 6 million ADI/Aware ADSL chipsets in their fiscal year. ADI also announced that it will be making Aware's voice-enabled DSL (VeDSL) technology available as part of ADI's family of ADSL chipset solutions. VeDSL uses DSL to cost-effectively provide multiple lines of residential voice service." Commenting on new technology developments, Tzannes said: "At Aware, we are committed to developing innovative solutions that improve the value of DSL for the semiconductor, equipment and service provider industries. This quarter we demonstrated our new VeDSL and Dr. DSL(TM) technologies at SUPERCOMM'00 in Atlanta." Tzannes added: "Aware was included in Standard & Poor's Small Cap 600 Index in June. Our inclusion in this index means that we are being recognized for the growth of our business and market capitalization. We are pleased to be included in S&P's index as we believe that it will have a positive impact for our stockholders." Tzannes concluded: "Based upon our performance this quarter and our visibility into future quarters, we are revising upward our earnings growth expectation for this year. Our previously stated goal was to double earnings - we are now expecting greater than 100% bottom line growth for the 2000 calendar year." Note: Aware's conference call will be broadcast live over the Internet on Tuesday, July 25, 2000 at 5:00 p.m. Eastern Time. To listen to the call, please go to www.aware.com, and click on "Investor Relations."