AuthenTec Inc. (AUTH, Financial) filed Quarterly Report for the period ended 2010-10-01.
Authentec Inc. has a market cap of $67.65 million; its shares were traded at around $2.26 with and P/S ratio of 1.99. AUTH is in the portfolios of John Rogers of ARIEL CAPITAL MANAGEMENT LLC, Jim Simons of Renaissance Technologies LLC.
On February 26, 2010, we acquired SafeNet s Embedded Security Solutions division. Results of operations of this division were included in our consolidated results from the date of acquisition in the Embedded Security Solutions segment. This segment itself represents revenue and earnings of the acquired company. On September 7, 2010, we acquired UPEK. Revenue of $1.7 million and net loss of $1.1 million related to UPEK were included in our consolidated results for the three and nine months ended October 1, 2010 in the Smart Sensor Solutions segment from the date of acquisition.
Revenue. Our consolidated revenue was $10.2 million for the three months ended October 1, 2010 as compared to $10.3 million for the three months ended October 2, 2009, a decrease of $0.1 million. The decrease in revenue was mostly attributable to the decline in shipments in the PC market. The decrease was offset primarily with the revenues from the Embedded Security Solutions segment as a result of the acquisition of SafeNet s Embedded Security Solutions, or “ESS”, division, as well as incremental revenues in our Smart Sensor Solutions segment due to the UPEK acquisition completed during the quarter. Our Embedded Security Solutions revenue consists primarily of technology licenses, royalty revenue, support and maintenance as well as shipments of integrated circuit chips. While Embedded Security Solutions added $4.2 million in revenue for the three months ended October 1, 2010, our revenue in Smart Sensor Solutions segment declined by the same amount of $4.2 million, or 41% as compared to the same period last year. The decrease in Smart Sensor revenue was primarily due to previously announced PC OEM transitions of notebook models on the Intel Capella platform, partially offset by increased sales of wireless products during the quarter to support the ramp-up of new Authen
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Authentec Inc. has a market cap of $67.65 million; its shares were traded at around $2.26 with and P/S ratio of 1.99. AUTH is in the portfolios of John Rogers of ARIEL CAPITAL MANAGEMENT LLC, Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
Since inception, we have invested heavily in research and development. From our incorporation through 2000, we were primarily engaged in the design and development of our first products, which we began shipping commercially in 2000. Our revenue has grown from $13.8 million in 2004 to $63.9 million in 2008, primarily by demand in the PC and wireless device markets, while declining in 2009 to $34.1 million as customer demand was severely impacted by weak macroeconomic conditions.On February 26, 2010, we acquired SafeNet s Embedded Security Solutions division. Results of operations of this division were included in our consolidated results from the date of acquisition in the Embedded Security Solutions segment. This segment itself represents revenue and earnings of the acquired company. On September 7, 2010, we acquired UPEK. Revenue of $1.7 million and net loss of $1.1 million related to UPEK were included in our consolidated results for the three and nine months ended October 1, 2010 in the Smart Sensor Solutions segment from the date of acquisition.
Revenue. Our consolidated revenue was $10.2 million for the three months ended October 1, 2010 as compared to $10.3 million for the three months ended October 2, 2009, a decrease of $0.1 million. The decrease in revenue was mostly attributable to the decline in shipments in the PC market. The decrease was offset primarily with the revenues from the Embedded Security Solutions segment as a result of the acquisition of SafeNet s Embedded Security Solutions, or “ESS”, division, as well as incremental revenues in our Smart Sensor Solutions segment due to the UPEK acquisition completed during the quarter. Our Embedded Security Solutions revenue consists primarily of technology licenses, royalty revenue, support and maintenance as well as shipments of integrated circuit chips. While Embedded Security Solutions added $4.2 million in revenue for the three months ended October 1, 2010, our revenue in Smart Sensor Solutions segment declined by the same amount of $4.2 million, or 41% as compared to the same period last year. The decrease in Smart Sensor revenue was primarily due to previously announced PC OEM transitions of notebook models on the Intel Capella platform, partially offset by increased sales of wireless products during the quarter to support the ramp-up of new Authen
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