AudioEye (AEYE) Posts Q3 Net Income of $990,000, Swings to Profit; Guides Q4 Revenue of $11.4M-$11.6M

AudioEye, Inc. (AEYE) on Monday reported third-quarter net income of $990,000, reversing a loss in the same period a year earlier. The Tucson, Arizona-based company said net income was 8 cents per share, while adjusted earnings, excluding non-recurring costs and stock option expense, were 30 cents per share. Revenue came in at $11 million. For the current quarter ending in December, AudioEye expects per-share earnings of 32 to 33 cents and revenue of $11.4 million to $11.6 million. Full-year earnings are projected at $1.04 per share, with revenue of $43.6 million to $43.8 million. AudioEye shares have fallen 26% since the start of the year. In the final minutes of trading on Monday, shares hit $7.36, down 48% over the last 12 months.