• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Log In
  • Member Registeration
  • Account
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

BIO-key Q1 Update Shows US-China Trade War’s Impact

May 17, 2019

BIO-key Q1 Update Shows US-China Trade War's Impact

The escalating trade war between the US and China has made an impact on BIO-key‘s bottom line, the company’s CEO says.

The comments came via the fingerprint sensor specialist’s Q1 update for 2019, in which the company saw a $289,832 year-over-year drop in revenues, which came in at $551,623, compared to $841,455 in revenues a year ago. CEO Mike DePasquale attributed the drop largely to delays in the receipt of monthly payments from a China-based firm that had licensed BIO-key’s technology.

“We had anticipated recording as Q1’19 revenue the receipt of two payments totaling $1.1 million as we had done in Q4’18, however the payments have not yet been received,” DePasquale explained. “Candidly, the deteriorating state of U.S. – China trade relations the past few months has emerged as a significant impediment in cross border commerce and particularly in the case of intangible goods such as software.”

Nevertheless, BIO-key did show a year-over-year improvement in its net result, reporting a loss of $1.8 million, compared to a net loss of $2.3 million in Q1 of 2018. And the company emphasized other positive new developments from the quarter including major police deployments of its biometric authentication technology, a deal with a large aerospace defense contractor, and the launch of ID Director for SAML.

Looking ahead, BIO-key’s Q1 update asserted that its full-year revenue guidance of somewhere between $11 million and $14 million “remains achievable”, with the caveat that “based on additional data and collections experience in coming months, it may have to reduce its 2019 revenue and other guidance later in the year when it reports Q2 or Q3 results.” To some extent, that could be in the hands of the politicians as trade tensions continue, or abate.

–

May 17, 2019 – by Alex Perala

Related News

  • BIO-key CEO Upbeat Despite Ongoing Trade Tensions in Q2 UpdateBIO-key CEO Upbeat Despite Ongoing Trade Tensions in Q2 Update
  • BIO-key Brings in Capital with Secured Convertible NoteBIO-key Brings in Capital with Secured Convertible Note
  • IDEX Concludes AGM, Emphasizes Biometric Cards Progress in Q1 UpdateIDEX Concludes AGM, Emphasizes Biometric Cards Progress in Q1 Update
  • BIO-key Anticipates Big Jump in Revenues for 2019BIO-key Anticipates Big Jump in Revenues for 2019
  • IDEX Picks Up Speed After 2022 ‘Inflection Point’ in Biometric CardsIDEX Picks Up Speed After 2022 ‘Inflection Point’ in Biometric Cards
  • BIO-key Shows Remarkable Growth in Q1 UpdateBIO-key Shows Remarkable Growth in Q1 Update

Filed Under: News Tagged With: BIO-key, Biometric, biometrics, corporate updates, fingerprint biometrics, fingerprint recognition, fingerprint sensors, Q1 results, Q1 updates, trade wars, US-China trade war

Primary Sidebar

Watch This Finance-Focused On-Demand Webinar

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

HID logo

HID powers the trusted identities of the world’s people, places and things. Our trusted identity solutions give people convenient and secure access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people use HID products to navigate their everyday lives, and billions of things are connected through HID technology. https://www.hidglobal.com/

Prove Logo

As the world moves to a mobile-first economy, businesses need to modernize how they acquire, engage with, and enable consumers. Prove’s phone-centric identity tokenization and passive cryptographic authentication solutions reduce friction, enhance security and privacy across all digital channels, and accelerate revenues while reducing operating expenses and fraud losses. Over 1,000 enterprise customers use Prove’s platform to process 20 billion customer requests annually across industries including banking, lending, healthcare, gaming, crypto, e-commerce, marketplaces, and payments. https://www.prove.com/

Recent Posts

  • Facial Recognition Gets Expelled in New York Schools – Identity News Digest
  • Biometric Gun Safes Are Coming to More Schools – Identity News Digest
  • Register for ‘Strong Identity Starts With You’ – Our Next Virtual Identity Summit
  • The Junta Didn’t Pay Its Bills – Identity News Digest
  • Et Voila: New Privacy Laws Take Effect – Identity News Digest

Biometric Associations

IBIA and fido

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics