Releases preliminary results for the quarter ended September 30, 2016
MELBOURNE, Florida - October 10, 2016 (Investorideas.com Newswire) NXT-ID, Inc. (NASDAQ:NXTD) (NXTDW) ("NXT-ID" or the "Company"), a company focused on the growing mobile commerce market announces selected preliminary results for the quarter ended September 30, 2016.
Revenues were approximately $3,000,000 for the three months ended September 30, 2016 compared to $418,128 for the same period in 2015. Revenues from the recent LogicMark acquisition were included from July 25, 2016, and accounted for approximately 90% of the increase from the comparative period in 2015. The operating loss for the three months ended September 30, 2016 narrowed to approximately $500,000 compared to an operating loss of $3,003,496 for the same period in 2015. The net loss for the three months ended September 30, 2016 was approximately $1,500,000 after approximately $1,000,000 in interest expense compared to a net loss of $3,543,313 for the three months ended September 30, 2015.
- Published: 11 October 2016
- Written by Investor Ideas