CORAL SPRINGS, Florida, October 13, 2016 /PRNewswire/ --
The rapid growth of m-commerce, mobile & digital payments, cloud computing and other network applications have accelerated the demand for biometric advancements for data protection, privacy and secure payment options including increased need for newest developments in smart card applications. Tech companies with developments of importance in the markets this week are NXT-ID, Inc. (NASDAQ: NXTD), LifeLock, Inc. (NYSE: LOCK), Symantec Corporation (NASDAQ: SYMC), Square, Inc. (NYSE: SQ), and Barracuda Networks, Inc. (NYSE: CUDA)
NXT-ID, Inc. (NASDAQ: NXTD) a company focused on the growing mobile commerce market announces selected preliminary results for the quarter ended September 30, 2016. Revenues were approximately $3,000,000 for the three months ended September 30, 2016 compared to $418,128 for the same period in 2015. Revenues from the recent LogicMark acquisition were included from July 25, 2016, and accounted for approximately 90% of the increase from the comparative period in 2015. The operating loss for the three months ended September 30, 2016 narrowed to approximately $500,000 compared to an operating loss of $3,003,496 for the same period in 2015. The net loss for the three months ended September 30, 2016 was approximately $1,500,000 after approximately $1,000,000 in interest expense compared to a net loss of $3,543,313 for the three months ended September 30, 2015.
Read the full NXTD Press Release at: http://www.financialnewsmedia.com/profiles/nxtd.html
"Our recent acquisition, LogicMark, has performed well since July 25, 2016 and was a major contributor to the improved results," said Gino Pereira, Chief Executive Officer of NXT-ID, Inc. "We also continue to make good progress on our collaboration with WorldVentures to develop their innovative smart card. We are planning to commence deliveries on the outstanding $15 million purchase order in the last quarter of 2016. We expect the last quarter of 2016 to show continued improved results as we will have a full quarter contribution from LogicMark as well as smart card deliveries to WorldVentures."
In other tech and software application news and developments in the markets:
LifeLock, Inc. (NYSE: LOCK), a leading provider of proactive identity theft protection services, announced that it will report financial results for the third quarter ended September 30, 2016 after market close on Tuesday, November 1, 2016. The company also announced that it will hold a conference call on the same day at 5:00 PM Eastern Time to discuss its quarterly financial results. The conference call may include forward-looking statements. The conference call can be accessed by dialing (877) 407-3982 from the United States or (201) 493-6780 internationally with reference to the company name and conference title, and a live webcast of the conference call can be accessed from the investor relations page of LifeLock's company website at investor.lifelock.com
Symantec Corporation (NASDAQ: SYMC), a global leader in cyber security, and VMware (VMW) a global leader in cloud infrastructure and business mobility, announced the development of a strategic partnership to bring together endpoint management and threat security where Symantec joins the VMware Mobile Security Alliance.
Square, Inc. (NYSE: SQ), the company unwilling to accept the status quo for local businesses, announced that it reduced the speed of their chip card reader by 25% from 5.7 seconds to 4.2 seconds (measured from when a card has been dipped to when payment is complete). Square also unveiled its goal to further reduce that speed to around 3 seconds as it continues shaving off transaction time through software updates that get automatically pushed to business owners' devices.
Barracuda Networks, Inc. (NYSE: CUDA) announced expanded data protection functionality in its Barracuda Cloud-to-Cloud Backup offering, with the addition of Microsoft SharePoint Online backup. The new feature provides businesses using SharePoint Online granular backup and recovery options with the ability to restore individual files that have been deleted, corrupted, or encrypted by ransomware - without having to complete a full recovery of the SharePoint environment. With the new SharePoint Online functionality, Barracuda offers affordable solutions to help customers running Office 365 detect, prevent, and recover from malicious attacks, and enables resellers and managed service providers (MSPs) to offer customers more robust email security and data protection offerings.
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