Intrinsyc Technologies Corporation reported audited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported operating income of $252,203 against $814,767 a year ago. Adjusted EBITDA was $246,173 against $965,194 a year ago. The company reported revenue of $4.3 million up 7% over the same period in the prior year of $4.0 million. The increase in revenue over the same period in the prior year was due primarily to increased revenue from the sale of hardware products. This decrease over the comparable quarterly periods was due to lower service revenue related to the development of customer products based on the company's Embedded Computing products in addition to the decline of its legacy Enterprise Interoperability Solutions or EIS software business.

For the year, the company reported operating income of $1,321,830 against $1,193,951 a year ago. Adjusted EBITDA was $1,761,172 against $1,702,903 a year ago. Revenue was $17.5 million, up 39% over the same period in the prior year of $12.5 million. The increase in revenue was due to increased revenue from the sale of product development engineering services, as well as hardware products.

The company expects to continue its momentum with more design and production wins for its Open-Q computing modules and revenue growth in 2017.