Aware, Inc. (AWRE) has reported 74.81 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $0.46 million, or $0.02 a share in the quarter, compared with $1.83 million, or $0.08 a share for the same period last year. Revenue during the quarter plunged 43.44 percent to $3.93 million from $6.95 million in the previous year period. Gross margin for the quarter expanded 768 basis points over the previous year period to 93.66 percent. Total expenses were 83.69 percent of quarterly revenues, up from 62.21 percent for the same period last year. That has resulted in a contraction of 2148 basis points in operating margin to 16.31 percent.
Operating income for the quarter was $0.64 million, compared with $2.62 million in the previous year period.
Rick Moberg, Awares co-chief executive officer and chief financial officer, said "2016 was a year of strong financial performance for the Company. The business generated about $4.5 million of cash of which we used $3.7 million to repurchase stock. Looking forward, we are focused on growing the government, commercial, and mobile parts of our business."
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