World News: 21:05 GMT Monday 11th February 2019. [Intrusion Inc. via Globe Newswire via SPi World News]
RICHARDSON, Texas, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Intrusion Inc. (OTCQB: INTZ) (“Intrusion”) today announced financial results for the quarter and year ended December 31, 2018.
Intrusion’s net income for the fourth quarter 2018 was $0.9 million, compared to net income of $0.2 million for the fourth quarter 2017. Net income for the year 2018 was $2.3 million, compared to a net loss of $30 thousand for 2017.
Revenue for the fourth quarter 2018 was $3.0 million, compared to $2.1 million in the fourth quarter 2017. Revenue for the year 2018 was $10.3 million, compared to $6.9 million in 2017.
Gross profit margin was 63% of revenue in the fourth quarter of 2018, compared to 58% of revenue in the fourth quarter 2017. For the year, the gross profit margin increased to 63%, compared to 59% in 2017.
Intrusion’s fourth quarter 2018 operating expenses were $1.0 million, compared to $1.0 million in the fourth quarter 2017. For the year 2018, operating expenses were $4.0 million, compared to $4.8 million in 2017.
As of December 31, 2018, Intrusion reported cash and cash equivalents of $1.7 million, working capital of $0.5 million, and debt of $1.9 million. Comparably, as of December 31, 2017, Intrusion reported cash and cash equivalents of $0.2 million, a working capital deficiency of $0.8 million and debt of $2.9 million.
“Orders booked in the fourth quarter 2018 totaled $5.2 million consisting primarily from renewals of existing projects. For the year 2018 orders totaled $14.4 million, compared to $9.8 million in 2017,” stated G. Ward Paxton, Chairman, President and CEO of Intrusion.
Intrusion’s management will host its regularly scheduled quarterly conference call to discuss the Company’s financial and operational progress at 4:00 P.M., CST today. Interested investors can access the call at 1-877-258-4925. For those unable to participate in the live conference call, a replay will be accessible beginning today at 7:00 P.M., CST until February 18, 2019 by calling 1-855-859-2056 or 1-404-537-3406. At the replay prompt, enter conference identification number 1298823. Additionally, a live and archived audio webcast of the conference call will be available at .
Intrusion Inc. is a global provider of entity identification, high speed data mining, cybercrime and advanced persistent threat detection products. Intrusion’s product families include TraceCop™ for identity discovery and disclosure, and Savant™ for network data mining and advanced persistent threat detection. Intrusion’s products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit .
Globe Newswire: 21:05 GMT Monday 11th February 2019
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