BIO-key International, Inc. (BKYI.OB) Reports Second Quarter Profit on Strong Sequential Revenue Growth
BIO-key International, Inc. (BKYI.OB), a developer of advanced identification solutions, including finger-based biometric technology, announced today a surge in revenue growth and an operating profit for the second quarter. Revenues rose to $3.6 million, a sequential increase of 41% from the first quarter and nearly triple last year’s $1.3 million. Net income was $168,000 vs. a loss in the first quarter of $915,000. The company cited increased demand and sales in the Biometrics division for gross margins that topped 88%. "We are very pleased to report our first quarter of corporate profitability as well as record quarterly revenues generated by…