AuthenTec, Inc. - Conference Presentation Calls

AuthenTec Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 2, 2009. For the quarter, the company reported revenue of $10.3 million compared to the guidance of $9.2 million to $9.8 million previously provided by the company. Revenue increased approximately 22% from the $8.4 million reported in the second quarter of 2009 and was lower compared to the $18.4 million in the third quarter of 2008. The sequential increase in third quarter revenue was due to improved buying patterns by PC customers and growth in wireless product sales. Operating loss was $4.2 million compared to $8,000 for the same period of last year. GAAP net loss was $4.2 million, or $0.14 per diluted share, which included a charge of $1.7 million, or $0.06 per diluted share, associated with the Atrua transaction finalized during the quarter. This compares to a GAAP net loss of $5.8 million, or $0.20 per diluted share, in the second quarter of 2009 and GAAP net income of $550,000, or $0.02 per diluted share, in the third quarter of 2008. On a non-GAAP basis, net loss was $1.5 million, or $0.05 per diluted share, which excluded the acquisition-related charge and other expenses related to stock-based compensation, a reduction in workforce, amortization of certain intangible assets and an impairment of assets. This compares to a non-GAAP net loss of $2.2 million, or $0.08 per diluted share, in the second quarter of 2009 and non-GAAP net income of $1.4 million, or $0.05 per diluted share, in the third quarter of 2008. For the nine months, the company reported net loss $14.4 million or $0.50 per diluted share on revenue of $25.8 million compared to net income $1.4 million or $0.05 per diluted share on revenue of $52.3 million for the same period of last year. Operating loss was $14.7 million compared to $0.5 million for the same period of last year. On a non-GAAP basis, net loss was $7.3 million or $0.25 per diluted share compared to net income $3.2 million or $0.11 per diluted share for the same period of last year. The company expect revenue to range between $7.5 million and $8.0 million for the fourth quarter of 2009, primarily due to anticipated reductions in channel inventories ahead of the previously disclosed transition to certain Intel Calpella-based notebooks that do not integrate an AuthenTec fingerprint sensor. The revenue decrease will be partially offset by lower operating expenses, which are expected to be approximately $5.8 million in the fourth quarter, resulting in a non-GAAP net loss per diluted share of between $0.07 and $0.09.

AuthenTec Inc. reported capital expenditures for the third quarter of 2009. Capital expenditures for the third quarter were $213,000.