Revenue for the quarter ended December 31, 2007 was US$15.4 million, compared to US$13.8 million for the quarter ended September 30, 2007, representing quarter-over-quarter revenue growth of 12%.

Net loss for the quarter ended December 31, 2007 was US$3.9 million, or US$0.09 per basic and diluted share, compared to a net loss of US$1.7 million, or US$0.04 per basic and diluted share for the three months ended September 30, 2007. The net loss included US$0.9 million and US$0.2 million of severance expenses related to our global cost reduction program for the December quarter and the September quarter, respectively. Excluding these charges, our non-GAAP net loss for the first quarter of fiscal 2008 was US$3.0 million or US$0.07 per basic and diluted share, compared to a non-GAAP net loss of US$1.6 million or US$0.03 per share for the fourth quarter of fiscal 2007.

Fiscal First Quarter Financial Highlights:

• Operating expenses during the quarter were US$14.7 million including approximately US$0.9 million for headcount related expenses as a result of our global cost reduction efforts.
• Gross profit, including amortization of technology and stock based compensation in the first quarter of fiscal 2008 was US$9.7 million compared to US$9.4 million in the fourth quarter of fiscal 2007. Gross margins were 63% in the first quarter of fiscal 2008 versus 68% in the fourth quarter of fiscal 2007.
• Cash, cash equivalents, and short-term investments were US$121.3 million at December 31, 2007 compared to US$121.7 million in the quarter ending September 30, 2007.

"We continue to work diligently to improve our top-line as we see the current demand environment for smart cards growing in the enterprise sector," said Thomas Jahn, ActivIdentity's CEO.

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