Good morning, Austin. Hope your work week has gone well so far.
Here’s a look at some of the technology stories making waves and generating buzz around the Interwebs this morning:
Some twists in the ‘Star Citizen’ story
You might recall the amazing tale of the Austin-created game ‘Star Citizen,’ which set all kinds of crowdfunding records by raising $148 million. much of it through the Kickstarter crowdfunding site. But as more and more time passes without the game being delivered to market -- the crowdfunding campaign began in 2012 -- some of the game’s fans/investors are starting to get restless. The Los Angeles Times has an interesting story about the twists and turns that developer Chris Roberts and his company, Cloud Imperium Games, have seen the development process take. Some investors are demanding their money back, and one filed a complaint with the Los Angeles County district attorney’s office. Roberts tells the Times that while the process has not gone perfectly, it’s because he’s had to adjust the scope of the game as he’s gone along. “But imagine — the game I can build with $140 million is going to be very different to the one I could build with $10 million. If I can build a bigger and more robust experience, I will,” Roberts told the Times.
Austin companies’ earnings reports
A couple of Austin-based companies in the tech sector issued quarterly earnings reports this morning. Here’s a quick summary of how they did:
Austin-based Asure Software on Thursday reported first-quarter earnings that exceeded Wall Street's expectations, and the company also raised its guidance for the full year.
Asure Software, whose products are used to help companies manage mobile workforces spread around the world, reported a net loss of $1.1 million for the quarter, or 2 cents per share. However, adjusting for one-time expenses, the company reported adjusted earnings per share of 9 cents, which topped the 8 cents per share projected by analysts surveyed by Thomson Reuters. The company also reported revenue of $10.7 million for the quarter, which exceeded the $10 million expected by analysts.
Asure Software also raised its guidance for the full year, saying it now expects revenue of $45.5 to $47.5 million and adjusted earnings of 62 cents to 77 cents per share.
Austin-based medical diagnostics company Vermillion Inc. reported a loss of $2.7 million, or 5 cents per share, in its first quarter. The company reported revenue of $726,000 for the quarter.
Vermillion develops tests to help physicians diagnose and treat gynecological diseases. The company was founded in 1993 in California and moved its headquarters to Austin in 2011. It also operates subsidiaries ASPIRA Labs and ASPIRA IVD.
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