Revenue for the first quarter 2009 was $0.9 million, compared to $0.5 million for the first quarter 2008.
Intrusion's operating loss was $0.3 million in the first quarter 2009, compared to $0.9 million for the first quarter 2008.
Gross profit margin was 68% of revenue in the first quarter of 2009; compared to 61% in the first quarter 2008.
Intrusion's first quarter 2009 operating expenses were $0.9 million; compared to $1.2 in the first quarter 2008.
As of March 31, 2009, Intrusion reported cash and cash equivalents of $0.2 million, a working capital deficiency of $1.7 million and debt of $0.6 million.
"Revenue in the first quarter was reduced by slippage of contracts from the U.S. Government; however, since April 1, 2009, as previously reported, we have booked a total of $1,200,000 of new TraceCop orders from a U.S. Defense Prime Contractor. These new TraceCop orders are expected to produce revenue over the second and third quarters of 2009," stated G. Ward Paxton, President and CEO of Intrusion.
Intrusion's management will host its regularly scheduled quarterly conference call to discuss the Company's financial and operational progress at 4:00 P.M., CDT today. Interested investors can access the call at 1-800-399-2043 (if outside the United States, 1-706-634-5518).
For those unable to participate in the live conference call, a replay will be accessible beginning today at 7:00 P.M., CDT until May 21, 2009 by calling 1-800-642-1687 (if outside the United States, 1-706-645-9291). At the replay prompt, enter conference identification number 98236051. Additionally, a live and archived audio webcast of the conference call will be available at www.intrusion.com.
About Intrusion Inc.
Intrusion Inc. is a global provider of entity identification systems, regulated information compliance, data leak prevention, and data privacy protection and network intrusion prevention and detection products. Intrusion's product families include TraceCop(TM) for entity identification, the Compliance Commander(TM) for regulated information compliance, data leak prevention and data privacy protection, and Intrusion SecureNet for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit www.intrusion.com.