Image Sensing Systems, Inc. Announces 2021 First Quarter Results
Image Sensing Systems, Inc (ISNS)
US:NASDAQ Investor Relations:
imagesensing.com/company/investors.html
Company Research
Source: GlobeNewswire
SAINT PAUL, Minn., May 03, 2021 (GLOBE NEWSWIRE) -- Image Sensing Systems, Inc. (Nasdaq: ISNS) today announced results for its quarter ended March 31, 2021. First Quarter 2021 Financial Summary First quarter royalties were $1.8 million, a decrease of 14 percent from the same period in the prior year.First quarter product sales were $1.2 million, an increase of 11 percent from the same period in the prior year.Operating expenses totaled $1.9 million in the first quarter of 2021, a decrease of 34 percent from the prior year period.Capitalized software costs in the first quarter of 2021 were $123,000 compared to $22,000 in the prior year period.The Company recognized other income of $931,000 for the forgiveness of the Paycheck Protection Program loan and accrued interest during the first quarter.Net income for the first quarter of 2021 totaled $1.1 million compared to a net loss of $111,000 for the same period in the prior year.Cash balance decreased to $8.2 million at March 31, 2021
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