Image Sensing Systems, Inc. Announces 2020 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. 10, 2020 (GLOBE NEWSWIRE) -- Image Sensing Systems, Inc. (Nasdaq: ISNS) today announced results for its third quarter and nine months ended September 30, 2020. Third Quarter 2020 Financial Summary Third quarter royalties were $2.2 million, a decrease of 7 percent from the same period in the prior year.Third quarter product sales were $1.5 million, an increase of 18 percent from the same period in the prior year.Operating expenses totaled $2.2 million in the third quarter of 2020, a decrease of 1 percent from the prior year period.There were no capitalized software costs in the third quarter of 2020 compared to $281,000 in the prior year period.Net income for the third quarter of 2020 totaled $659,000 compared to net income of $6.1 million 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 $7.5 million at September 30, 2020, up from $6.8
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