Key Developments: Identive Group Inc (INVE.W)
0.91USD
15 May 2013
$-0.12 (-11.65%)
$1.03
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Latest Key Developments (Source: Significant Developments)
Identive Group Inc Issues Q2 2013 Guidance; EBITDA Guidance Above Analysts' Estimates; Lowers High End Of Prior FY 2013 Revenue Guidance; Lowers Low End Of Prior FY 2013 EBITDA Guidance
Identive Group Inc announced that for second quarter of 2013, it expects revenues in the range of $22.0 million to $26.0 million and further expects adjusted EBITDA of $(0.5) million to $0.5 million. For fiscal 2013, it expects revenues of $105.0 million to $110.0 million and adjusted EBITDA of $2.0 million to $6.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $24.8 million and EBITDA of $(1.40) for second quarter of 2013; revenue of $107.4 million and EBITDA of $5.4 million for fiscal 2013. Full Article
Identive Group Inc Secures $2 Million Investment And Additional $18 Million Funding Commitment From Lincoln Park Capital
Identive Group Inc announced that it has entered into a $20 million common stock purchase agreement with Lincoln Park Capital Fund, LLC (LPC) a Chicago-based institutional investor. Following its execution of the agreement, LPC will purchase $2 million in common stock from Identive at a purchase price of $1.14 per share, the closing price on April 15, 2013. Over the next three years, Identive has the right to sell up to an additional $18 million of its common stock to LPC under terms set forth in the agreement. Proceeds from LPC's funding will be used to support working capital requirements and for general corporate purposes, including ongoing investment in products and technologies to support the Company's growth strategy. Full Article
Identive Group Inc Issues Q1 2013 Guidance; EBITDA Guidance Below Analysts' Estimates; Issues FY 2013 Guidance In Line With Analysts' Estimates
Identive Group Inc announced that for first quarter of 2013, it expects revenues of $22.0 million to $24.0 million, non-GAAP, adjusted EBITDA of $(1.5) million to (0.75) million. For fiscal 2013, it expects revenues of $105.0 million to $115.0 million and non-GAAP, adjusted EBITDA of $4.0 million to $6.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $23.7 million and EBITDA of $(0.20) for first quarter of 2013; revenue of $107.4 million and EBITDA of $5.4 million for fiscal 2013. Full Article
Hong Kong Police Force to Deploy Identive Group Inc's Technology
Identive Group Inc (Identive) announced that the Hong Kong Police Force will deploy smart card readers based on Identive's technology to comply with new security policies and protect confidential information. Identive's local partner AMCL HK has been awarded a tender to supply 12,500 readers utilizing Identive's smart card reader technology, to be delivered in the first quarter of 2013. Full Article
Identive Group Inc Introduces New Developers' Solution Kit
Identive Group Inc announced that it introduces GameChange, a developers' solutions kit that enables the rapid creation and integration of contactless radio frequency identification (RFID) technology into electronic games without the need for specialist RFID knowledge. RFID allows physical objects to interact with virtual environments. Full Article
Identive Group Inc Receives Order for Smart Card Readers
Identive Group Inc announced that it has received an order for more than 300,000 SCR3310v2 smart card readers to support a national electronic ID card program in the Middle East. The order is expected to be shipped during the first quarter of 2013. The Company’s smart card readers will be used by citizens to enable secure access to eGovernment and eAdministration applications, as well as to digitally sign documents. Financial details were not disclosed. Full Article
NXP Semiconductors Implements Identive Group Inc's Cashless Betalen
Identive Group Inc announced that its Cashless Betalen mobile payment system has been implemented by NXP Semiconductors at its production facility in Nijmegen, The Netherlands. The system allows up to 2,600 NXP employees to make micro-payments in the company's cafeteria with a tap of their mobile phones. Cashless Betalen is a cashless payment application used with the digital wallet offered by Rabobank, one of Holland's banks. The Company provides the user interface and account management software platform for the wallet. In addition, a near field communication (NFC) sticker from the Company, based on MIFARE DESFire EV1 chip technology from NXP, enables employees' phones to access and use the Cashless Betalen system. Financial details were not disclosed. Full Article
Identive Group Inc Reaffirms Q4 2012 Revenue Guidance-Conference Call
Identive Group Inc announced that for the fourth quarter of 2012, it expects revenues between $26 million - $28 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $27 million for the fourth quarter of 2012. Full Article
Identive Group Inc Awarded Patent for Application of its Technology
Identive Group Inc announced that it has been awarded patent 8,269,688 by the United States Patent and Trademark Office for an application of its 'tag on metal' technology, which utilizes specialized magnetic shielding to allow radio frequency identification (RFID) tags to be used on metal devices or equipment, which normally interfere with RFID signal performance. Full Article
U.S. Federal Agency Selects Identive Group Inc as Access Control Standard
Identive Group Inc announced that it has been selected by a U.S. federal agency within the Department of Homeland Security to implement its Hirsch-branded access control and security management systems at the agency's more than 200 locations nationwide. Identive's systems will secure entry and exit points at the agency's facilities and provide secure work environments for agency employees. Full Article
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