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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (Parenthetical) (Overstatement Restated, USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2010
Sep. 30, 2010
Net revenue$ 2,800[1]$ 2,800[1]
Cost of revenue1,600[1]1,600[1]
Gross profit1,200[1]1,200[1]
Loss from operations1,200[1]1,200[1]
Net loss attributable to Identive Group, Inc.$ 1,200[1]$ 1,200[1]
Net loss$ 0.03[1]$ 0.03[1]
[1]As stated in Note 20 to the Consolidated Financial Statements in its 2010 Annual Report on Form 10-K, the Company had determined that an error occurred in the recognition of revenue related to the sale of readers for the German national ID program as reported in the third quarter of 2010. Upon review of Accounting Standards Codification 605, Revenue Recognition, the Company had concluded that not all criteria for recognizing the sale were in fact met until the fourth quarter of 2010. As a result, revenue and cost of revenue of approximately $2.8 million and $1.6 million, respectively reported in the Company's Form 10-Q for the three and nine months ended September 30, 2010 were overstated, resulting in an impact of $1.2 million on gross profit, operating loss and net loss in such periods. The loss per share was understated by $(0.03). The amounts presented for the three and nine months ended September 30, 2010 in the table above have been restated to correct the impact of such error.