Network-1 Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 04:42 pm
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Network-1 Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net income was USD 2.23 million compared to USD 6.59 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to USD 0.28 a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to USD 0.27 a year ago.
For the nine months, net loss was USD 0.618 million compared to net income of USD 15.26 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.63 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to diluted earnings per share from continuing operations of USD 0.62 a year ago.
Network-1 Technologies, Inc. is engaged in the development, licensing and protection of its intellectual property and proprietary technologies. The Company works with inventors and patent owners to assist in the development and monetization of their patented technologies. It owns 100 United States patents covering various telecommunications and data networking technologies, as well as technologies relating to document stream operating systems, the identification of media content and high frequency trading. It also owns 15 foreign patents relating to patents within its Cox Patent Portfolio, M2M/IoT Patent Portfolio, HFT Patent Portfolio, Mirror World Patent Portfolio and its Remote Power Patent. Its Cox Patent Portfolio consists of 39 United States patents relating to enabling technology for identifying media content on the Internet, such as audio and video, and taking further actions to be performed based on such identification.