|e.Digital Announces First Quarter Results |
SAN DIEGO, CA, Aug 09, 2012 (MARKETWIRE via COMTEX) -- e.Digital Corporation
(otcqb:EDIG) (EDIG), a leading innovator of dedicated portable entertainment
systems and patented flash memory-related technology, today reported financial
results for its first quarter of fiscal 2013 ended June 30, 2012.
The Company reported a net loss of $332,983 or $(0.00) per share, for the first
quarter of fiscal 2013 compared to a net income of $731,237 or $0.00 per share
for the prior year's first quarter. For the first quarter of fiscal 2013 revenues
totaled $132,546 compared to $2,181,815 for the first quarter of the prior year.
The prior year's first quarter had $2,025,000 of patent license revenue with no
comparable revenue in the most recent quarter. Gross profit for the first quarter
was $36,079 or 28% of revenues, compared to $1,169,369 or 54% of revenues, for
the prior year's first quarter. Operating expenses declined to $369,062 from
$438,132 for the prior year's comparable quarter primarily due to lack of annual
meeting costs of $41,591 spent in prior year and reduced consulting costs.
The reexamination of two of the Company's patents significantly impacted the
Company's revenue stream. "Now that the '774 patent is out of reexamination and
our response to the '737 final rejection has been filed with the USPTO, we soon
expect to have this process behind us and continue Flash-R litigation efforts,"
commented Fred Falk, president and CEO of e.Digital.
"To aid in our Nunchi marketing efforts, we have updated our website to better
portray the Company's history and record of innovation, and to communicate to
prospective licensees and our shareholders a high level understanding of our
Falk concluded, "We continue to research and evaluate new opportunities to
strengthen our diverse intellectual property portfolio."
About e.Digital Corporation: For more than 20 years, e.Digital's ideas and
inventions have impacted the evolution of consumer products. Today, e.Digital
innovations, including its Flash-R(TM) portfolio of flash memory-related patents,
are essential to many portable consumer electronic products. The Company
pioneered dedicated portable in-flight entertainment systems and more than 30
airlines have made e.Digital powered products their in-flight entertainment
choice. For more information about e.Digital, please visit: