Identix Inc. reports a net loss in its first quarter that it says was in line with expectations, while taking in less revenue than the same period a year ago. However, the company’s net loss was less than a third of what it was a year ago.

The biometrics company had a net loss of $4.7 million in its 2004 first quarter ending Sept. 30, or 5 cents per share. In August, Identix said it expected a new loss of between 6 and 8 cents per share. The company had a net loss of 14.2 million in the first quarter of 2002.

First quarter revenue stood at $21.3 million, compared to $25.1 million in the first quarter of 2003.

“This was a solid quarter for Identix in terms of meeting or beating the revenue and per share expectations we provided in August 2003,” Identix President and CEO Joseph J. Atick said in a statement. “Additionally, we are pleased with how we controlled our expenses, actually reducing operating expense during the quarter.”

In addition,  shareholders at Identix’s annual shareholders meeting on Oct. 30 approved all proposals submitted to them, including election to the company’s Board of Directors of all eight nominees for the 2003-04 term and the appointment of PricewaterhouseCoopers LLP as the independent accountants of the company for the fiscal year ending June 30, 2004. The elected directors are as follows; Robert McCashin, chairman; Dr. Joseph J. Atick, president and CEO; Milton E. Cooper; Malcolm J. Gudis; John E. Haugo; George Latimer; John E. Lawler; and Patrick H. Morton.

Among other companies reporting earnings:

Gemplus Int’l S.A.: The French smart card provider reports a lower net loss in its third quarter that the same period a year ago. The company posted a net loss of 13.1 million euros ($15.2 million in U.S. dollars) versus a loss of 38.6 million euros in last year’s third quarter.

The company’s financial and security unit turned in a 59-percent increase in gross profits this fiscal third quarter compared to the last, earning 14.7 million euros.

Bioscrypt Inc.: The fingerprint reader provider narrowed its losses in its third quarter. The Mississauga, Ontario, Canada-based company reports its net loss was US $0.88 million or 2 cents per share, versus a net loss of US $2 million in 2002.

Bioscrypt reports revenue of US $2.3 million, which represents 36.2-percent growth over the third quarter in the previous year.

If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!

Related Content