SuperCom , a provider of Electronic Intelligence Solutions for National ID, Public Safety and HealthCare, announced its results for the third quarter and first nine months of 2013, prior to its acquisition of the SmartID division. Financial Highlights of the third quarter of 2013 compared with the third quarter of 2012 -Revenue was $2.02 million compared to $1.79 million last year -Gross profit was $1.66 million , compared to $1.3 million last year; -Net income increased to $1.5 million , compared to $510 thousand last year; -EPS was $0.16 compared to $0.06 last year Financial Highlights of the first nine months of 2013 compared with the first nine months of 2012 -Revenue was $5.92 million , compared to $5.72 million last year -Gross profit was $5.02 million , compared to $4.10 million last year; -Net income was $5.6 million compared to $3.3 million last year; -EPS was $0.63 compared to $0.62 last year In a release on January 31 , the Company noted that the financial results are reported on a standalone basis and exclude the results of the SmartID division acquisition, and the public offering, which were both completed during the last week of 2013. The SmartID division's operation will significantly contribute to SuperCom's results starting from the first quarter of 2014. "I am very pleased with the financial result of the third quarter of last year and our achievements were all the more impressive given that management and major company resources were occupied with the secondary offering, and the acquisition of a SmartID division which was twice our size," commented Arie Trabelsi , CEO of SuperCom . "We continued to present excellent performance across all parameters, indicating the strength and depth of our operations. We see these results as an indication that our core business remains on the right track and continues its positive momentum of growth and strong profitability. I note that the results of the third quarter are historical and do not include those of our new SmartID division, which will have a major and positive impact to our results in 2014 in terms of both revenue and profit." Continued Trabelsi, "Towards the end of 2013, we raised $13.8 million dollars in a secondary offering in order to pay for the SmartID acquisition and increase working capital, and I would like to extend a warm welcome to all our new investors. We look forward to working hard to increasing shareholder value and we intend to continue unlocking the significant untapped potential that SuperCom has, together with its new SmartID division." SuperCom intends to release its fourth quarter and full year 2013 results at the beginning of March and will hold an investor conference call at that time in conjunction with the release. More information: www.supercom.com ((Comments on this story may be sent to firstname.lastname@example.org ))
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