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Identiv Reports Preliminary Performance for Q3 2014

Affirms annual guidance, introduces stock repurchase program

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Identiv, Inc. expects revenue for the third quarter (Q3) of 2014 to be in the range of $21 to $23 million and expects adjusted EBITDA (non-GAAP) for the quarter to be positive. The company reaffirms revenue guidance for fiscal year 2014 to be between $80 and $90 million.

“We have seen a solid improvement in the identity market and our business. Therefore, we remain confident in our annual revenue guidance. With the recent strengthening of our balance sheet, our customers have the confidence in our ability to meet their challenges as they address the global identity crisis,” said Jason Hart, Identiv CEO.

The company also announced that the board of directors has approved a program to repurchase up to $5 million of the company’s common stock over the next 12 months.

“This stock repurchase program reflects our confidence in the business value we’re building and our determination to establish a strong market position, financial performance, and shareholder value,” said Steve Humphreys, chairman of the Board.

The program allows stock repurchases from time to time at management’s discretion in the open market or in private transactions at prevailing market prices. Repurchases will be made under the program using the company’s own cash resources. The stock repurchase program will expire on Oct. 8, 2015, but may be limited or terminated at any time by the board of directors without prior notice.

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