ActivIdentity lowers Q4 guidance on large order slippage

Source: ActivIdentity

ActivIdentity Corporation (NASDAQ:ACTI), a global leader in digital identity assurance, today announced that, based on currently available information, it is revising its previous guidance for the fourth quarter of fiscal 2007, which ended on September 30, 2007.

The company now anticipates revenue for the fourth quarter to be in the range of $13.5 to $14.0 million. Loss per share is expected to be from $0.03 to $0.06 per basic and diluted share, and cash is estimated to decrease to between $121 million and $123 million. The company previously announced that it had projected fourth quarter revenue to be in the range of $17 to $18.5 million. EPS was estimated to be a loss of between $0.01 and $0.04 per basic and diluted share. Cash was previously projected to decrease to between $126 million and $128 million.

"The reduced guidance reflects ActivIdentity's dependence on large orders and the slippage of several large orders from fiscal Q4 into Q1. We are disappointed with our revised guidance for the fourth quarter; however, we do believe this to be primarily an issue of timing. We expect to receive the majority of these slipped orders during the current quarter of our fiscal year 2008," stated Jason Hart, chief executive officer.

ActivIdentity will discuss the fourth quarter and fiscal 2007 results in more detail during the company's fiscal year-end earnings call.

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