Seguridad Mania.com - España y América Latina

BEAVERTON, OR -- (Marketwired) -- 10/22/14 -- 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.

Conference Call
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: 866-562-9934
Conference ID: 27179679

If you have any difficulty connecting with the conference call, please contact Liolios Group at 949-574-3860.

About Digimarc
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.

Forward-looking Statements
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.

                            Digimarc Corporation
                 Consolidated Income Statement Information
                  (in thousands, except per share amounts)
                                (Unaudited)

                                   Three-Month
                                   Information       Nine-Month Information
                             ----------------------  ----------------------
                              September   September   September   September
                                 30,         30,         30,         30,
                                2014        2013        2014        2013
                             ----------  ----------  ----------  ----------
Revenue:
  Service                    $    3,155  $    3,030  $    8,859  $    8,981
  Subscription                    1,452       1,424       4,360       4,241
  License                         2,320       2,971       6,576      14,916
                             ----------  ----------  ----------  ----------
    Total revenue                 6,927       7,425      19,795      28,138

Cost of revenue:
  Service                         1,224       1,232       3,807       4,067
  Subscription                      812         625       2,160       1,848
  License                            84          98         250         294
                             ----------  ----------  ----------  ----------
    Total cost of revenue         2,120       1,955       6,217       6,209

Gross profit:
  Service                         1,931       1,798       5,052       4,914
  Subscription                      640         799       2,200       2,393
  License                         2,236       2,873       6,326      14,622
                             ----------  ----------  ----------  ----------
    Total gross profit            4,807       5,470      13,578      21,929

Gross margin:
  Service                            61%         59%         57%         55%
  Subscription                       44%         56%         50%         56%
  License                            96%         97%         96%         98%
    Percentage of gross
     profit to total revenue         69%         74%         69%         78%

Operating expenses:
  Sales and marketing             1,999       1,482       5,930       4,322
  Research, development and
   engineering                    3,499       3,277      10,449       8,824
  General and administrative      2,183       2,456       6,929       6,990
  Intellectual property             366         278       1,287         816
                             ----------  ----------  ----------  ----------
    Total operating expenses      8,047       7,493      24,595      20,952

Operating income (loss)          (3,240)     (2,023)    (11,017)        977

Other income, net                     3          33          50          81
                             ----------  ----------  ----------  ----------

Income (loss) before income
 taxes                           (3,237)     (1,990)    (10,967)      1,058

(Provision) benefit for
 income taxes                     1,252       1,195       4,316        (280)
                             ----------  ----------  ----------  ----------
Net income (loss)            $   (1,985) $     (795) $   (6,651) $      778
                             ==========  ==========  ==========  ==========

Earnings (loss) per common
 share:
Earnings (loss) per common
 share - basic               $    (0.28) $    (0.12) $    (0.95) $     0.09
Earnings (loss) per common
 share - diluted             $    (0.28) $    (0.12) $    (0.95) $     0.09
  Weighted average common
   shares outstanding -
   basic                          7,176       6,860       7,097       6,850
  Weighted average common
   shares outstanding -
   diluted                        7,176       6,860       7,097       7,080

Cash dividends declared per
 common share:               $        -  $     0.11  $     0.22  $     0.33



                            Digimarc Corporation
                     Consolidated Cash Flow Information
                               (in thousands)
                                (Unaudited)

                                                  Nine-Month Information
                                               ----------------------------
                                               September 30,  September 30,
                                                    2014           2013
                                               -------------  -------------
Cash flows from operating activities:
  Net income (loss)                            $      (6,651) $         778
  Adjustments to reconcile net income (loss)
   to net cash provided by (used in) operating
   activities:
    Depreciation and amortization of property
     and equipment                                       708            513
    Amortization and write-off of intangibles            916            931
    Change in allowance for doubtful accounts            (13)            22
    Gain on reversal of contingent merger
     consideration                                         -           (190)
    Stock-based compensation                           4,085          3,219
    Deferred income taxes                             (2,874)           354
  Changes in operating assets and liabilities:
      Trade accounts receivable, net                   2,000           (923)
      Other current assets                            (1,559)          (577)
      Other assets                                       160            (99)
      Accounts payable and other accrued
       liabilities                                      (171)           286
      Income taxes payable                              (169)            88
      Deferred revenue                                (2,338)           263
                                               -------------  -------------
        Net cash provided by (used in)
         operating activities                         (5,906)         4,665

  Cash flows from investing activities:
    Purchase of property and equipment                (1,010)        (1,532)
    Capitalized patent costs                            (922)          (824)
    Maturity of marketable securities                 47,961         47,344
    Purchase of marketable securities                (38,840)       (48,186)
                                               -------------  -------------
        Net cash provided by (used in)
         investing activities                          7,189         (3,198)

  Cash flows from financing activities:
    Issuance of common stock                           1,319              -
    Purchase of common stock                          (1,931)          (854)
    Cash dividends paid                               (1,654)        (2,400)
    Common stock issuance costs                         (124)             -
                                               -------------  -------------
        Net cash used in financing activities         (2,390)        (3,254)

                                               -------------  -------------
        Net decrease in cash and cash
         equivalents (1)                       $      (1,107) $      (1,787)
                                               =============  =============


    Cash, cash equivalents and marketable
     securities at beginning of period                34,964         39,056
    Cash, cash equivalents and marketable
     securities at end of period                      24,736         38,111
                                               -------------  -------------
  (1) Net decrease in cash, cash equivalents
   and marketable securities                   $     (10,228) $        (945)
                                               =============  =============



                            Digimarc Corporation
                   Consolidated Balance Sheet Information
                               (in thousands)
                                 (Unaudited)

                                                 September 30,  December 31,
                                                      2014          2013
                                                 ------------- -------------
Assets
  Current assets:
    Cash and cash equivalents (2)                $       2,704 $       3,811
    Marketable securities (2)                           19,081        25,851
    Trade accounts receivable, net                       3,851         5,838
    Other current assets                                 3,541         1,658
                                                 ------------- -------------
      Total current assets                              29,177        37,158
  Marketable securities (2)                              2,951         5,302
  Property and equipment, net                            2,904         2,395
  Intangibles, net                                       6,836         6,709
  Goodwill                                               1,114         1,114
  Deferred tax assets, net                               5,447         3,949
  Other assets                                             410           570
                                                 ------------- -------------
      Total assets                               $      48,839 $      57,197
                                                 ============= =============

Liabilities and Shareholders' Equity
  Current liabilities:
    Accounts payable and other accrued
     liabilities                                 $       1,868 $       1,560
    Deferred revenue                                     1,853         4,218
                                                 ------------- -------------
      Total current liabilities                          3,721         5,778
  Deferred rent and other long-term liabilities            241           496
                                                 ------------- -------------
      Total liabilities                                  3,962         6,274

  Commitments and contingencies

  Shareholders' equity:
    Preferred stock                                         50            50
    Common stock                                             8             7
    Additional paid-in capital                          43,756        41,498
    Retained earnings                                    1,063         9,368
                                                 ------------- -------------
      Total shareholders' equity                        44,877        50,923

                                                 ------------- -------------
      Total liabilities and shareholders' equity $      48,839 $      57,197
                                                 ============= =============


(2) Aggregate cash, cash equivalents, short- and long-term marketable
    securities was $24,736 and $34,964 at Sepetmber 30, 2014 and December
    31, 2013, respectively.