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Innovative Card Technologies Q2 revenue quadruples quarter-on-quarter |
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Innovative Card Technologies, developers of the InCard DisplayCard security device for e-banking, e-commerce and data access, reports its Q2 revenue have quadrupled on a quarter-to-quarter basis to USD USD 0.8 million, driven by strong sales performance. In H1, InCard reported revenue of USD 1 million.
The company achieved a 9 percent reduction in operating expense over the comparable 2007 period, at USD 2.1 million. After accounting for the revaluation of warrant liability and interest, InCard lost USD 0.8 million in Q2, or USD 0.03 per diluted share, as compared with USD 0.09 per diluted share in the same period of the previous year. The company completed second stage of USD 8.5 million financing with USD 5 million investment from EMC, parent company of partner RSA. |
