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A burgeoning market has started up for security on mobile devices. |
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Released on Wednesday, June 6th, 2012, 2:45 AM ET
Pittsburgh, PA (SpeculatingStocks) - Authentec (NASDAQ:AUTH) is a leading provider of mobile and network security with product offerings that include smart sensors including biometric sensors, identity management and embedded security.
AUTH has started to catch fire with big moves the past two-days as the stock has moved from $4.23 to a close at $4.85 during Tuesday's, 6/5, trading session. Most significantly, volume has poured into the stock this week with over 2.5 million shares traded on Monday and Tuesday. This stock is receiving immense attention.
AUTH has grown revenue the past three years from $34.0 million in 2009 to $44.6 million in 2010 to $69.7 million in 2011, but the company has yet to find profitability. This is another situation where being in the right industry is very important to the company's value.
The company had $19.5 million in cash and cash equivalents as of the last quarter and no long-term debt. There is speculation that the next iPhone (5) could have a biometric sensor. The use of biometrics by Apple would send the biometric industry wild and also it'd be very good for AUTH shares.
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