U.S.-based Identive reported significant restructuring and job cuts in the fourth quarter, along with increased sales for NFC and other RFID tags–but still no profit.
Continuing its efforts to reduce operating expenses and narrow its focus, during the quarter Identive finished the sale or shutdown of six major assets of the Identive Group’s original 37 “legal entities.” The company has not yet named the divested operations, but they probably included its Tagtrail platform for NFC tag campaign management, as well as its identity and access control business Multicard, both of which it announced in November 2013 that it intended to sell.
“The businesses we divested consisted of regionally focused systems integration and customization services that did not fit strategically, nor exhibit the capability to deliver high growth potential,” the company’s new CFO, Brian Nelson, said during a conference call late last week.
