Wave Systems (ticker WAVX) reported results for the 2nd quarter, 2005, yesterday after the market close. The press release is here. Snippets:
Wave's Q2 2005 net revenue rose to $258,000, compared to Q2 2004 net revenue of $6,000, principally due to an increase in software license revenue. Wave reported a net loss of $4.2 million, or $0.05 per basic share, for the second quarter of 2005, compared to a net loss to common stockholders of $4.3 million, or $0.06 per basic share, in Q2 2004. The year-ago second quarter included the benefit of a gain on the sale of marketable securities amounting to $1.2 million as well as a $300,000 charge relating to the write-off of impaired assets. The weighted average number of basic shares outstanding in the second quarters of 2005 and 2004 was 81,126,000 and 67,363,000, respectively.
For the six months ended June 30, 2005, Wave Systems reported net revenue of $335,000, versus revenue of $57,000 for the six month period ended June 30, 2004. Wave reported a net loss to common stockholders of $8.7 million, or $0.11 per basic share, for the first six months of 2005, compared to a net loss to common stockholders of $7.7 million, or $0.11 per basic share, in the first six months of 2004. The year-ago six month period included a $2.4 million gain on the sale of marketable securities. The weighted average number of basic shares outstanding in the first six months of 2005 and 2004 was 79,180,000 and 67,350,000, respectively.
