“…2018 has so far seen the announcement of numerous new orders for [BIO-key’s] biometric authentication solutions across a range of sectors, suggesting that the company’s momentum has continued apace.”
BIO-key has set a date for its Q4 and 2017 year-end fiscal update: The results will be delivered on March 29th before the market opens.
The company has already disclosed preliminary results pointing to some considerable successes. While its net loss for the year remained that same as that of 2016 at $4.2 million, its revenues jumped 110 percent year-over-year, with gross profit up 36 percent, at $3 million. And in the fourth quarter specifically, BIO-key saw a net income of roughly half a million dollars.
But in the official fiscal update, BIO-key’s executives are likely to emphasize what’s to come in 2018, with CEO Mike DePasquale having asserted in the preliminary update that in 2017 BIO-key “worked to lay the foundation for long-term revenue growth.” And 2018 has so far seen the announcement of numerous new orders for its biometric authentication solutions across a range of sectors, suggesting that the company’s momentum has continued apace.
BIO-key will host a conference call to discuss the results after their publication ahead of market open on March 29th. Scheduled for 10:00am ET, the call will be helmed by BIO-key CEO Mike DePasquale, COO Barbara Rivera, and CFO Cecilia Welch, and will be aired online with a live webcast.
March 15, 2018 – by Alex Perala