Authentidate Holding Corp. announced financial results for the fourth quarter and full-year periods ended June 30, 2015. Revenues for the quarter ended June 30, 2015 were $521,000 compared to $1.1 million for the prior year period.
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The decrease in revenues for the quarter is due primarily to lower telehealth equipment sales and service revenues and lower transaction volumes from our hosted software services.
Operating loss for the quarter ended June 30, 2015 was $2.1 million compared to $2.1 million for the prior year period. Net loss for the quarter was $3.1 million, or $0.08 per share, compared to $2.1 million, or $0.06 per share, for the prior year period.
These results reflect higher legal and inventory adjustment expenses which offset lower selling expenses and other savings and do not give full effect to the impact of our recent work force reductions and other cost-savings measures implemented beginning in March 2015. These results also reflect higher non-cash expenses for debt extinguishment and debt discount amortization expenses.
Revenues for the twelve months ended June 30, 2015 were $3.7 million compared to $5.6 million for the prior year period. The decrease in revenues for the period is due primarily to lower telehealth equipment sales and lower transaction volumes from our hosted software services.
Operating loss for the twelve months ended June 30, 2015 was $8.7 million compared to $7.1 million for the prior year period. Net loss for the twelve month period was $9.7 million, or $0.25 per share, compared to $7.1 million, or $0.26 per share, for the prior year period.
These results reflect the same trends as the quarter and higher personnel, severance and consulting expenses for the period prior to our cost-savings measures. The prior year period also includes a state payroll tax credit of approximately $175,000 which reduced SG&A expenses for the prior year period.
As of June 30, 2015 cash and cash equivalents were approximately $247,000. Following the end of the quarter, we have extended the term of certain short-term notes and added new short-term debt financing resulting in gross proceeds of approximately $1.2 million. ■