Digimarc reports 1st-qtr loss after spinning off digital watermarking business

Digimarc reports 1Q loss after spin off

BEAVERTON, Ore. — Digimarc Corp. said Monday that it booked a loss in the first quarter as its expenses increased following the company’s sale of its digital watermarking business to L-1 Identity Solutions Inc. last August.

For the quarter that ended March 31, Digimarc losses totaled 809,000, or 11 cents per share. A year ago, the company booked a profit of $924,000, or 13 cents per share.

Quarterly revenue fell 13 percent to $4.4 million, from $5.1 million in the first quarter of 2008. Meanwhile, the company’s operating expenses jumped 29 percent to $3.9 million.

Digimarc shares gained 65 cents, or 6.6 percent, to $10.56 in afternoon trading. The stock has traded between $7.93 and $11.50 during the past 52 weeks.