- Email: [email protected]
Viisage sees revenues grow
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BUSINESS WATCH
Company News • Iridian has formed a multi-year, multimillion-dollar alliance agreement with Matsushita Communication Industrial Co Ltd. The agreement establishes a strategic alliance for the manufacture, distribution, marketing and further development of Authenticam and other iris recognition products. In addition to manufacturing the Authenticam hardware, Matsushita Communication has been granted licensing rights to Iridian’s PrivateID software, along with Iridian’s supporting server technologies. • Graphco Technologies (GTEC) and AcSys Biometrics Corp have agreed to co-develop and co-market a facial recognition solution designed for the surveillance marketplace. The solution will incorporate AcSys’ HNeT neural networking technology and G-TEC’s FaceTrac system. Under the agreement, G-TEC will design and implement proprietary solutions using technology from both companies. • ImageWare Systems Inc has entered into a Value Added Reseller (VAR) agreement with Sagem SA to distribute ImageWare’s C.R.I.M.E.S software systems. The agreement, valid for two years, provides Sagem with non-exclusive rights to distribute C.R.I.M.E.S worldwide, except in the USA and Canada. • Imagis Technologies has signed a Master Distributor Agreement with the biometric subsidiary of Hong-Kong-based Cheung Kong Infrastructure Holdings (CKI) group of companies. Under the agreement, the CKI subsidiary, BioSecure, will promote, distribute and support Imagis’ law enforcement and biometric facial recognition products across Asia Pacific, both directly and through a number of sub-distributors. Keyware and HospITech Solutions have formed a strategic alliance to address the security standards mandated by the HIPAA Act of 1986.
6
Investment
Veridicom and Pass21 deal closed After several months of uncertainty about the future of Veridicom, a deal to relaunch the company has now been signed with Pass21 Co. All of the IP and assets of the old organisation, including the Veridicom name, have been transferred to the new corporation, which has resumed the marketing and manufacture of the company’s fingerprint sensor chips. Since the agreement was signed, several people have been added to Veridicom’s sales and support staff. “Our next target is to add a number of technical people to the organisation and raise the number of staff in our team to about 30 people by December 2001,” Naeem Zafar, President and CEO, Veridicom told Btt. In addition to addressing its personnel needs, the company is expected to continue its focus as a ‘solution provider’ rather than a ‘silicon provider’. “We are simplifying our strategy to focus on making the best fingerprint sensors and matching algorithms coupled with web-based application software for user authentication,” said Zafar. “We are now focused on regaining the leadership position that we used to enjoy, and be poised for major development within the fingerprint market. In the first half of 2002, we aim to be in a position to pursue the numerous contracts that can be expected in China, Brazil and with the DOD in the US.” Contact: Naeem Zafar at Veridicom, Tel: +1 408 492 8951 Fax: +1 408 492 8959 email: [email protected]
Financial results
Mixed results for Bioscrypt Canadian biometric technology supplier, Bioscrypt, has posted its financial results for the second quarter of 2001. Revenues were US$1.66 million – up significantly from the same period in 2000, when revenues were US$0.02 million, but down from the first quarter of 2001 when revenues were US$1.86 million. The company also reported a net loss of US$6.71 million versus a net loss of US$1.26 million from continuing operations. The net loss includes US$3.54 million associated with the acquisition of Biometric Identification Inc, which the company is writing off over a three-year period. “The impact of the economic downturn is the primary contributing factor that has resulted in customers delaying spending on physical access devices and licensing new technologies while they
assess the effects of the downturn on their business,” said Pierre Donaldson, President and CEO of Bioscrypt. “We are taking immediate action to reduce our future operating expenses by 15% and additional reductions will occur as required.” Assuming that world market conditions do not significantly improve in the short term, the company anticipates revenues of US$8.0 million for the full fiscal year and Earnings Before Interest, Taxes and Depreciation (EBITDA) positive operations in 2003.
Financial Results
Viisage sees revenues grow Face recognition supplier Viisage has reported its seventh consecutive quarterly profit. For the six months ended July 1, 2001, net income applicable to common shareholders increased by 112% to US$432,000 or US$0.03 per share, compared with a net income applicable to common shareholders of US$204,000 or US$0.02 per share for the first half of 2000. Revenues for the first two quarters of 2001 were US$13.2 million, representing growth of 15% over the same period of 2000. In a statement, Tom Colatosti, Viisage President and CEO said: “Our financial results continue to demonstrate consistent, predictable earnings improvement quarter-over-quarter. The growth in our face recognition business is particularly impressive and gratifying, reflecting significant customer acceptance for face recognition applications...We will continue to focus on marketing on those markets that have wide consumer acceptance because they improve security and convenience and protect personal privacy.” Contact: Tom Colatosti at Viisage, +1 978 952 2211
Corporate News
Fortune 100 deal for IDTEK One of the world’s best-known equipment suppliers and systems integrators in the communications industry is believed to have entered into a teaming agreement with US fingerprint company ID Technologies Corporation (IDTEK). Although the identity of the fortune 100 company is being kept secret, Phil Johnston, CEO of IDTEK, told Btt: “Under the terms of the agreement, we will provide the exclusive biometric solution for future multimillion dollar projects won by this major systems integrator.” Contact: Phil Johnston at IDTEK [email protected]
Biometric Technology Today • October 2001
10/1/01
4:54 PM
Page 6
(Black plate)
BUSINESS WATCH
Company News • Iridian has formed a multi-year, multimillion-dollar alliance agreement with Matsushita Communication Industrial Co Ltd. The agreement establishes a strategic alliance for the manufacture, distribution, marketing and further development of Authenticam and other iris recognition products. In addition to manufacturing the Authenticam hardware, Matsushita Communication has been granted licensing rights to Iridian’s PrivateID software, along with Iridian’s supporting server technologies. • Graphco Technologies (GTEC) and AcSys Biometrics Corp have agreed to co-develop and co-market a facial recognition solution designed for the surveillance marketplace. The solution will incorporate AcSys’ HNeT neural networking technology and G-TEC’s FaceTrac system. Under the agreement, G-TEC will design and implement proprietary solutions using technology from both companies. • ImageWare Systems Inc has entered into a Value Added Reseller (VAR) agreement with Sagem SA to distribute ImageWare’s C.R.I.M.E.S software systems. The agreement, valid for two years, provides Sagem with non-exclusive rights to distribute C.R.I.M.E.S worldwide, except in the USA and Canada. • Imagis Technologies has signed a Master Distributor Agreement with the biometric subsidiary of Hong-Kong-based Cheung Kong Infrastructure Holdings (CKI) group of companies. Under the agreement, the CKI subsidiary, BioSecure, will promote, distribute and support Imagis’ law enforcement and biometric facial recognition products across Asia Pacific, both directly and through a number of sub-distributors. Keyware and HospITech Solutions have formed a strategic alliance to address the security standards mandated by the HIPAA Act of 1986.
6
Investment
Veridicom and Pass21 deal closed After several months of uncertainty about the future of Veridicom, a deal to relaunch the company has now been signed with Pass21 Co. All of the IP and assets of the old organisation, including the Veridicom name, have been transferred to the new corporation, which has resumed the marketing and manufacture of the company’s fingerprint sensor chips. Since the agreement was signed, several people have been added to Veridicom’s sales and support staff. “Our next target is to add a number of technical people to the organisation and raise the number of staff in our team to about 30 people by December 2001,” Naeem Zafar, President and CEO, Veridicom told Btt. In addition to addressing its personnel needs, the company is expected to continue its focus as a ‘solution provider’ rather than a ‘silicon provider’. “We are simplifying our strategy to focus on making the best fingerprint sensors and matching algorithms coupled with web-based application software for user authentication,” said Zafar. “We are now focused on regaining the leadership position that we used to enjoy, and be poised for major development within the fingerprint market. In the first half of 2002, we aim to be in a position to pursue the numerous contracts that can be expected in China, Brazil and with the DOD in the US.” Contact: Naeem Zafar at Veridicom, Tel: +1 408 492 8951 Fax: +1 408 492 8959 email: [email protected]
Financial results
Mixed results for Bioscrypt Canadian biometric technology supplier, Bioscrypt, has posted its financial results for the second quarter of 2001. Revenues were US$1.66 million – up significantly from the same period in 2000, when revenues were US$0.02 million, but down from the first quarter of 2001 when revenues were US$1.86 million. The company also reported a net loss of US$6.71 million versus a net loss of US$1.26 million from continuing operations. The net loss includes US$3.54 million associated with the acquisition of Biometric Identification Inc, which the company is writing off over a three-year period. “The impact of the economic downturn is the primary contributing factor that has resulted in customers delaying spending on physical access devices and licensing new technologies while they
assess the effects of the downturn on their business,” said Pierre Donaldson, President and CEO of Bioscrypt. “We are taking immediate action to reduce our future operating expenses by 15% and additional reductions will occur as required.” Assuming that world market conditions do not significantly improve in the short term, the company anticipates revenues of US$8.0 million for the full fiscal year and Earnings Before Interest, Taxes and Depreciation (EBITDA) positive operations in 2003.
Financial Results
Viisage sees revenues grow Face recognition supplier Viisage has reported its seventh consecutive quarterly profit. For the six months ended July 1, 2001, net income applicable to common shareholders increased by 112% to US$432,000 or US$0.03 per share, compared with a net income applicable to common shareholders of US$204,000 or US$0.02 per share for the first half of 2000. Revenues for the first two quarters of 2001 were US$13.2 million, representing growth of 15% over the same period of 2000. In a statement, Tom Colatosti, Viisage President and CEO said: “Our financial results continue to demonstrate consistent, predictable earnings improvement quarter-over-quarter. The growth in our face recognition business is particularly impressive and gratifying, reflecting significant customer acceptance for face recognition applications...We will continue to focus on marketing on those markets that have wide consumer acceptance because they improve security and convenience and protect personal privacy.” Contact: Tom Colatosti at Viisage, +1 978 952 2211
Corporate News
Fortune 100 deal for IDTEK One of the world’s best-known equipment suppliers and systems integrators in the communications industry is believed to have entered into a teaming agreement with US fingerprint company ID Technologies Corporation (IDTEK). Although the identity of the fortune 100 company is being kept secret, Phil Johnston, CEO of IDTEK, told Btt: “Under the terms of the agreement, we will provide the exclusive biometric solution for future multimillion dollar projects won by this major systems integrator.” Contact: Phil Johnston at IDTEK [email protected]
Biometric Technology Today • October 2001