Infinite Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
October 16, 2023 at 05:01 pm EDT
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Infinite Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1.78 million compared to USD 1.7 million a year ago. Net income was USD 0.668984 million compared to net loss of USD 0.8332 million a year ago. Basic earnings per share from continuing operations was USD 1.35 compared to basic loss per share from continuing operations of USD 1.88 a year ago. Diluted earnings per share from continuing operations was USD 1.07 compared to diluted loss per share from continuing operations of USD 1.88 a year ago.
For the six months, sales was USD 3.55 million compared to USD 3.36 million a year ago. Net loss was USD 0.284987 million compared to USD 1.7 million a year ago. Basic loss per share from continuing operations was USD 0.59 compared to USD 3.87 a year ago. Diluted loss per share from continuing operations was USD 0.59 compared to USD 3.87 a year ago.
Infinite Group, Inc. is a developer of cybersecurity software and related cybersecurity consulting, advisory, and managed information security services. The Company's cybersecurity services include Chief Information Security Team as a Service (CISOTaaS), PenLogic penetration testing services, security assessments, incident response and others, and are provided through its channel partners and direct-to-end customers. Its Nodeware is a patented software-as-a-service (SaaS) solution that automates network asset identification, and cybersecurity vulnerability management and monitoring. Its Webroot is a cloud-based endpoint security platform solution, it markets to and provides support for approximately 225 small channel partners across North America. It sells its software and services through indirect channels such as managed service providers (MSPs), managed security services providers (MSSPs), agents and distributors, and government contractors.