Digimarc Reports Second Quarter 2010 Financial
July 30, 2010 09:03 AM Eastern Daylight Time
BEAVERTON, Ore.--(EON: Enhanced Online News)--Digimarc Corporation (NASDAQ:DMRC) reported
financial results for the second quarter and six months ended June 30, 2010.
Revenues for the second quarter increased 21% to $5.2 million from $4.3 million in the same quarter a year ago.
The increase was primarily attributable to higher royalties from licensees and, to a lesser extent, increased services
from certain major customers.
Operating loss for the second quarter improved by more than 50% to $0.4 million compared to an operating loss of
$0.8 million in the second quarter of 2009. The net loss for the quarter was $0.9 million, or $(0.13) per diluted
share, including development costs associated with the company’s investments in joint ventures with The Nielsen
Company compared to a net loss of $0.7 million, or $(0.09) per diluted share in the second quarter of 2009.
Revenues in the first half of 2010 increased 76% to $15.4 million from $8.8 million in the same period of 2009,
reflecting revenues from the $4.5 million license agreement from Arbitron in the first quarter of 2010, as well as
higher service and license revenues from other customers.
Operating income for the first half of 2010 was $3.8 million, compared to an operating loss of $1.8 million in the first
half of 2009. Net income in the first half of 2010 was $2.9 million, or $0.39 per diluted share, compared to a net
loss of $1.5 million, or $(0.21) per diluted share in the same period of 2009. The Nielsen Company joint ventures’
development costs amounted to $1.0 million in the first half of 2010.
At June 30, 2010, cash and cash equivalents and short-term marketable securities totaled $46.6 million, compared
to $47.1 million at March 31, 2010.
Management will host a conference call to discuss these financial results and execution of the company’s strategy in
more detail. Please see below for more information.