Identix Names New Chairman, Reports 2Q Earnings

MINNETONKA, Minn.

As Identix Inc. announced its second quarter earnings, it also announced a change in its boardroom. Robert McCashin says he is retiring as chairman of Identix’s board of directors and has been replaced by board member Milton E. Cooper.

Cooper, who joined Identix in 2001, is the immediate past chairperson for the secretary of the army’s National Science Center Advisory Board and from 1992 to 2001 was president, federal sector for government system integrator Computer Sciences Corp. (CSC). He has also held positions at IBM Corp. and Raytheon Co.

“In the current era where security has become a critical focus for governments and industry worldwide, it is more important than ever to ensure that Identix continues to nurture and grow its relationships within the federal government marketplace,” says Cooper, who officially takes the position Feb. 1. “It is equally important to ensure that our innovation and technological leadership in finger and facial biometrics continues to set the pace for adoption and for the industry.”

Identix President and CEO Joseph Atick sees Cooper’s links to the government as benefiting his company. “His reputation and frequent presence in Washington D.C. will serve Identix well as we continue to navigate the federal government sales cycle and continue to work on establishing our biometrics technology as a key element for every major system integrator and defense prime.”

McCashin’s departure also reduces Identix’s board from eight members to seven, and the company says it has no plans to add a replacement for McCashin.

Identix reports a loss for its 2004 second quarter of $5.6 million, which was an improvement from a $7.6 million loss for the same quarter in 2003. For the first half of its 2004 fiscal year, Identix has had a net loss of $21.8 million. The company’s revenues were down 11 percent in the past quarter as compared to 2003.

“We remain focused internally on maintaining a lean, yet effective and agile cost structure that enables us to continue to win industry defining awards, while ensuring that we do not inhibit our ability to continue to stay well ahead of the market’s demand for new and improved finger and facial recognition technology,” Atick says.

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