Tuesday SCM Microsystems Inc. (SCMM), a provider of computer peripherals, reported a narrower loss in its second-quarter, with an increase in revenues. In addition, the company issued full-year revenue guidance.
SCM posted second-quarter net loss of $1.50 million or $0.10 per share, compared to net loss of $2.24 million or $0.14 per share in the prior year quarter.
Loss from continuing operations narrowed to $1.97 million or $0.13 per share from $3.67 million or $0.23 per share in the previous year quarter.
Quarterly revenues increased 40% to $6.52 million from $4.64 million in the same quarter last year.
By product segment, recent-quarter revenues included $4.9 million from sales of smart card readers and other products for secure network and physical access, compared to $3.9 million in the same quarter last year. Original equipment manufacturer digital media reader technology's sales were $1.6 million, compared to $0.8 million in the prior year quarter.
Net loss for the six-month period was $3.18 million or $0.20 per share, compared to a loss of $2.10 million or $0.14 per share in the year earlier period. Loss from continuing operations was $3.54 million or $0.22 per share, compared to loss of $3.53 million or $0.23 per share in the comparable period of last year.
Revenues dropped to $12.98 million from $13.10 million in the year ago period.
Looking ahead, the company lowered full-year 2008 revenue forecast range to $32 million - $35 million from previous range of $38 million - $40 million. In addition, SCM expects to achieve second-half revenue growth between 10% and 27% compared to the second half of 2007.
SCMM closed Monday's regular trading session at $2.72 per share.
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