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Thursday, September 14, 2006

Authentidate finishes year with $17.8M loss

Authentidate Holding Corp. reported a net loss of $5.9 million, or minus 17 cents a share, for the fourth quarter ended June 30, compared with a net loss of $8.4 million, or minus 24 cents a share, during the same period last year.

Authentidate reported $3.7 million in revenue for the fourth quarter, down from $4.8 million for the year-ago period.

The company, which makes authentication software, reported a net loss of $17.8 million, minus 52 cents a diluted share, for the fiscal year, down from a net loss of $19.2 million, minus 57 cents a share, for fiscal year 2005. Authentidate (Nasdaq: ADAT), which was founded in Troy, N.Y., is based in Berkeley Heights, N.J., but has an operation in Schenectady.

Revenue for 2006 was $16.57 million, down from $17.55 million for fiscal year 2005.

Suren Pai, Authentidate CEO, called 2006 "an important and challenging year for Authentidate" and said the company made "significant strides in executing our strategy."

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