identiv inc (INVE) Key Developments
Identiv, Inc. Announces Executive Changes
Jul 7 14
Effective June 30, 2014, Lawrence Midland, the President and a current director of Identiv, Inc., resigned as a director of the company. The Board accepted Mr. Midland's resignation and expressed its appreciation for his service over the past 5 years. Mr. Midland's resignation is not the result of any dispute or disagreement with the Company, and Mr. Midland will continue to serve as the company's President. Effective July 3, 2014, Phil Libin, resigned as a director of the company. The Board accepted Mr. Libin's resignation and expressed its appreciation for his service over the past years. Mr. Libin's resignation is not the result of any dispute or disagreement with the company.
Identiv Regains Compliance With NASDAQ Minimum Bid Price Requirement
Jun 11 14
Identiv announced that the company has received notification from NASDAQ that it has regained compliance with the minimum bid price rule for a continued listing on the NASDAQ Capital Market. The bid price of its common stock has closed at $1.00 per share or greater for at least 10 consecutive business days. In the notification, NASDAQ advised the company that this matter is now closed.
Identiv Launches Channel Alliance Network Program
Jun 10 14
Identiv announced the launch of the Identiv Channel Alliance Network Program. The new partner program extends Identiv's security capabilities and solutions to global resellers and their end customers, generating new sales opportunities and driving profitable business growth. The ICAN Program enables partners to establish trust in the connected world of all things including buildings, information, devices and even everyday items such as medicines and toys with Identiv's solutions. The program also makes it easy for partners to go to market, streamline sales cycles with real-time support and expertise, and maximize profitability.
Hans Liebler Completes Service as Director of Identiv, Inc
May 23 14
Identiv Inc. (formerly known as Identive Group Inc.) held its 2014 Annual Meeting of stockholders on May 22, 2014. Effective as of the date of the Annual Meeting, Dr. Hans Liebler, a director of the company since June 2008, completed his service as a director of the company.
Identive Group Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2014; Reaffirms Earnings Guidance for the Fiscal Year 2014
May 14 14
Identive Group Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net revenue of $17,160,000 against $15,955,000 a year ago, reflecting growth of 8% with significant contribution from sales of credentials products increasing 36% to meet demand for electronic game toys and other Internet of Things applications. Loss from operations was $3,402,000 against $3,524,000 a year ago. Loss from continuing operations before income taxes and non controlling interest was $5,579,000 against $4,180,000 a year ago. Net loss attributable to stockholders' equity was $5,128,000 against $4,781,000 a year ago. Loss from continuing operations per diluted share was $0.07 against $0.07 a year ago. Net loss per basic and diluted share was $0.06 against $0.08 a year ago. Adjusted LBITDA was $2,014,000 against $2,119,000 a year ago.
The company reaffirms earnings guidance for fiscal year 2014 of revenue between $80 million and $90 million and adjusted EBITDA positive on an annual basis.