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Intrusion Inc. Records Revenue Of $1.7 Million In The First Quarter Of 2015RICHARDSON, Texas, May 11, 2015 /PRNewswire/ -- Intrusion Inc. (OTCQB: INTZ), ("Intrusion") today announced financial results for the quarter ended March 31, 2015. Intrusion's net loss was $310 thousand in the first quarter 2015, compared to net loss of $270 thousand for the first quarter 2014. Revenue for the first quarter 2015 was $1.71 million, compared to $1.59 million for the first quarter 2014. Gross profit margin was 63% of revenue in the first quarter 2015; compared to 64% in the first quarter 2014. Intrusion's first quarter 2015 operating expenses were $1.37 million; compared to $1.23 million in the first quarter 2014. As of March 31, 2015, Intrusion reported cash and cash equivalents of $0.6 million, a working capital deficiency of $1.4 million and debt of $1.9 million. "We booked $1.7 million of orders in the first quarter 2015 compared to $0.7 million of orders in the first quarter 2014. The 2015 orders include initial orders for Savant from two new customers. Our top priority in 2015 continues to be the acquisition of new customers and additional resell partners. In order to achieve these goals we have increased our sales and marketing personnel and expenses," stated G. Ward Paxton, President and CEO of Intrusion. Intrusion's management will host its regularly scheduled quarterly conference call to discuss the Company's financial and operational progress at 4:00 P.M., CDT today. Interested investors can access the call at 1-877-258-4925 (if outside the United States, 1-973-500-2152). For those unable to participate in the live conference call, a replay will be accessible beginning today at 7:00 P.M., CDT until May 18, 2015 by calling 1-855-859-2056 (if outside the United States, 1-404-537-3406). At the replay prompt, enter conference identification number 45227466. Additionally, a live and archived audio webcast of the conference call will be available at www.intrusion.com. About Intrusion Inc. Intrusion Inc. is a global provider of entity identification systems, advanced persistent threat identification, high speed data mining, regulated information compliance, data leak prevention and data privacy protection, and network intrusion prevention and detection products. Intrusion's product families include TraceCop™ for entity identification, Savant™ for advanced persistent threats and network data mining, Compliance Commander™ for regulated information compliance, data leak prevention and data privacy protection, and Intrusion SecureNet for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit www.intrusion.com. This release may contain certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. Such statements include, without limitations, statements regarding future revenue growth and profitability, the difficulties in forecasting future sales caused by current economic and market conditions, the effects of sales and implementation cycles for our products on our quarterly results and difficulties in accurately estimating market growth, the effect of military actions on government and corporate spending on information security products, spending patterns of, and appropriations to, U.S. government departments, as well as other statements. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements. The factors that could cause actual results to differ materially from expectations are detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/intrusion-inc-records-revenue-of-17-million-in-the-first-quarter-of-2015-300080580.html SOURCE Intrusion Inc. |