CIC Reports Fiscal 2014 Results
REDWOOD SHORES, CA, March 31, 2015 – Communication Intelligence Corporation (“CIC”) (OTCQB: CICI), a leading supplier of electronic signature and other software solutions enabling secure and cost-effective management of document-based digital transactions, today reported total revenue of $1,515,000 for the year ended December 31, 2014, an increase of $97,000, or 7%, compared to total revenue of $1,418,000 for the prior year.
“During 2014, we continued our investment in expanding both our technology offering and market reach,” said Philip Sassower, chairman and chief executive officer for CIC. “Our largely flat year-to-year results do not reflect significant improvements in our core SignatureOne® CeremonyTM Server and our iSign® family of products and services, as well as strides made in developing key market relationships, such as our strategic alliance with Cegedim in Europe. We remain confident that our initiatives in these areas will support improving results for CIC in 2015 and beyond.”
For the year ended December 31, 2014, operating expenses were $5,328,000, a decrease of $387,000, or 7%, compared to operating expenses of $5,715,000 in the prior year. This decrease was primarily due to lower stock option expenses and lower salaries resulting from the shift of certain engineering resources to offshore locations.
For the year ended December 31, 2014, the net loss attributable to common stockholders was $7,379,000, a decrease of $720,000, or 9%, compared to a net loss attributable to common stockholders of $8,099,000 in the prior year. This decrease was primarily due to a $484,000 decrease in loss from operations from 2013 to 2014, resulting from the above mentioned increase in revenue and decrease in operating expenses and from a $177,000 decrease in interest expense.
Additional financial information regarding CIC’s operating results for the year ended December 31, 2014, will be available in the Company’s Annual Report on Form 10-K that will be filed with the Securities and Exchange Commission and available at www.sec.gov.
CIC is a leading provider of digital transaction management (DTM) software enabling fully digital (paperless) business processes. CIC’s solutions encompass a wide array of functionality and services, including electronic signatures, biometric authentication and simple-to-complex workflow management. These solutions are available across virtually all enterprise, desktop and mobile environments as a seamlessly integrated platform for both ad-hoc and fully automated transactions. CIC’s platform can be deployed both on-premise and as a cloud-based service, with the ability to easily transition between deployment models. CIC is headquartered in Silicon Valley. For more information, please visit our website at www.cic.com. CIC’s logo is a trademark of CIC.
FORWARD LOOKING STATEMENTS
Certain statements contained in this press release, including without limitation, statements containing the words “believes”, “anticipates”, “hopes”, “intends”, “expects”, and other words of similar import, constitute “forward looking” statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company’s technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect customer purchases of the Company’s solutions; (3) the Company’s inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.
Investor Relations and Media Inquiries: Andrea Goren