Image Sensing Systems Announces 2019 Third Quarter and Year-to-Date Financial Results
Image Sensing Systems, Inc (ISNS)
US:NASDAQ Investor Relations:
imagesensing.com/company/investors.html
Company Research
Source: GlobeNewswire
SAINT PAUL, Minn., Nov. 13, 2019 (GLOBE NEWSWIRE) -- Image Sensing Systems, Inc. (NASDAQ: ISNS) today announced results for its third quarter and nine months ended September 30, 2019. Third Quarter 2019 Financial Summary Third quarter royalties were $2.4 million, an increase of 4 percent from the same period in the prior year.Third quarter product sales were $1.3 million, a decrease of 26 percent from the same period in the prior year.Operating expenses totaled $2.3 million in the third quarter of 2019, a decrease of 8 percent from the prior year period.Capitalized software costs in the third quarter were $281,000 compared to $32,000 in the prior year period.Net income for the third quarter of 2019 totaled $6.1 million compared to net income of $851,000 for the same period in the prior year.A non-recurring, non-cash $5.2 million tax benefit was recorded during the third quarter of 2019.Cash balance increased to $4.7 million, up from $4.2 million at the end of the second quarter of
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