Digimarc Corporation reported unaudited consolidated earnings results for first quarter ended March 31, 2013. For the quarter, the company reported total revenue of $10,243,000 compared to $17,046,000 a year ago. Operating income was $1,644,000 compared to $9,154,000 a year ago. Income before provision for income taxes was $1,673,000 compared to $8,105,000 a year ago. Net income was $971,000 or $0.13 basic and diluted per share compared to $4,999,000 or $0.70 diluted per share a year ago. The decrease in net income was due to lower operating income, partially offset by lower income taxes and no activity in the joint ventures which generated losses in the first quarter of 2012. Net cash provided by operating activities was $3,344,000 compared to $10,632,000 a year ago. Purchase of property and equipment was $86,000 compared to $148,000 a year ago. Excluding the $8.0 million payment for past due royalties, revenues increased 13% or $1.2 million over the year-ago quarter. The majority of the increase was due to the inclusion of the company's acquisition of attributor corporation which was completed in December 2012.

Digimarc Corporation declared a quarterly dividend of $0.11 per share on the outstanding common shares. The dividend is payable on May 20, 2013 to shareholders of record at the close of business on May 13, 2013. The aggregate amount of the quarterly dividend payment is expected to be $0.8 million.

Digimarc Corporation, Q1 2013 Earnings Call, May 02, 2013