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Identix Reports Fiscal 2004 Second Quarter Results

Sunday 1 February 2004 22:39 CET | News

Identix has reported financial results for its fiscal 2004 second quarter and first six months ended December 31, 2003. Fiscal 2004 second quarter revenue was $20 million, with a net loss in accordance with generally accepted accounting principles (GAAP) of $5.6 million, or $(0.06) loss per share.

These results compare to 2003 fiscal second quarter revenue of $22.5 million, with a net loss in accordance with GAAP of $7.6 million, or $(0.09) loss per share. Revenue for the first six months of fiscal 2004 was $41.3 million with a net loss in accordance with GAAP of $10.2 million, or ($0.12) loss per share. This compares to fiscal 2003 first six-month revenue of $47.6 million, with a net loss in accordance with GAAP of $21.8 million, or ($0.26) loss per share. Product revenue for the fiscal 2004 second quarter of $12.5 million was flat when compared to product revenue of $12.5 million in the year-earlier period. Product revenue consists of revenue from the Companys biometric products and solutions, as well as maintenance and services revenues related to its products. Product gross margins expanded year-over-year to 35.7 percent in the fiscal 2004 second quarter, when compared to product gross margins of 29.8 percent in the second quarter of fiscal 2003. Services revenue, which is made up solely of the Companys Identix Public Sector government services business, for the fiscal 2004 second quarter was $7.5 million, down from services revenue of $10 million in the year-earlier period. Fiscal 2004 second quarter services gross margins were 8.1 percent, compared to year-earlier services gross margins of 12.2 percent. As of December 31, 2003, the Companys balance sheet reflected a current ratio of 3.0:1, working capital of $45.5 million, cash and investments of $39.2 million, long-term liabilities of $8.9 million, consisting primarily of facility obligations, and shareholders equity of $202.4 million.


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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce