“BIO-key is in its strongest financial position in years” – BIO-key International Announces Results From Q3 2013

November 15, 2013 – by Peter B. Counter

Yesterday fingerprint biometric technology company BIO-key International reported its financial results for Q3 2013 (the three month period ending September 30). Total revenues for the period was $431,576, a five percent increase when compared to the same period last year.

Now in what CEO Mike DePasquale describes as the company’s “strongest financial position in years,” thanks to a number of private placements within the last nine months, with a post-Q3 capital investment of $3.7 million announced earlier this week. The company has pointed to the emerging mobile biometrics landscape as a driving force behind its most recent successes, and has been undertaking initiatives that focus on mobile applications including BYOD and mCommerce transactions.

Speaking to the company’s goals as 2014 fast approaches, DePasquale remarked, “As we build our plan for 2014 and beyond, we feel confident that we now have the financial resources to execute that plan. BIO-key has historically focused on strategic sales development. Today, with the industry on the rise, we are focusing on tactical sales execution for 2014. We are hiring pedigreed sales executives and look forward to ramping up sales.”

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