Biokey International Inc (BKYI)

[Gamco]

BIO-Key Expecting High End Of Initial Revenue Estimate This Quarter
September 22, 2014 – by Peter B. Counter

Today, BIO-key International affirmed that it is on track to achieve Q3 2014 revenues in the high end of its previously stated estimate of $800,000 to $1.2 million. The initial projection was stated during the company’s second quarter financial report, during which it declared strong visibility for this current financial period. Today’s announcement states that BIO-key expects third quarter revenue to have a gross margin in the range of 80 percent of the estimated range.

BIO-key has affirmed that it is on track to achieve Q3 2014 revenues in the high end of its previously stated estimate of $800,000 to $1.2 million.

Just last week, BIO-key announced that it has entered into a strategic software and hardware partnership with NEXT Biometrics. NEXT will be licensing the BIO-key fingerprint recognition algorithm for use on its low cost sensors. In conjunction with the licensing agreement, BIO-key placed an order for 75,000 NEXT sensors, according to a news brief from Reuters.

BIO-key is a company specializing in biometric fingerprint technology, cloud-based mobile credentialing and identity verification solutions. Last week, the company had a major presence at both Biometrics UnPlugged and the Global Identity Summit in Tampa, Florida. During both events, the company’s vice president of corporate development, Jay Meier, sat on panels concerning mobile commerce and privacy: two of the most heated topics in identity management right now.

Leading up to Biometrics UnPlugged, our sister site Mobile ID World posted a two part interview with Meier on the state of mobile biometrics and commerce. The discussion sheds light on the difference between mobile payments and mobile banking, the different security needs of each and how a trusted source for identity registration can go a long way in enabling the latter of the two applications.
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September 22, 2014 – by Peter B. Counter

http://findbiometrics.com/bio-key-expecting-high-end-of-initial-revenue-estimate-this-quarter/