Viisage Reports Record Revenue


Identity verification provider Viisage reports record revenue in its third quarter with a 40-percent increase from the third quarter of 2002. Viisage brought in $11.3 million in revenue for the quarter that ended on Sept. 28.

In the meantime, the company says it has narrowed its net loss. The net loss for the third quarter was $1.2 million or five cents per share, compared to a net loss of $2.8 million or 14 cents per share for the 2002 third quarter.

“Viisage continues to make meaningful progress on many fronts – generating robust top-line growth through additional business with current customers and winning new customers, building our backlog and reducing our operating loss, and therefore cash burn, while investing appropriately in our business and technology for the future,” said Bernard Bailey, president and CEO, in a statement.

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