BIO-key Previews 2017 Results Including Revenue Increasing 110 Percent to $6.3 Million

BIO-Key International (NASDAQ:BKYI) has announced unaudited preliminary results for its Q4 ended December 31, 2017 and a recap of its 2017 operating achievements.

As quoted in the press release:

BIO-key expects to report audited results for its FY 2017 in late March, details on the exact date and time of the earnings call will be announced in coming weeks.

BIO-key provided the following unaudited preview of its Q4 and full year 2017 results.

Q4’17		Q4’16	Chg.		2017	2016	Chg.
Revenue	$3.0M		$1.7M	+76%		$6.3M	$3.0M	+110%
Gross Profit	$2.2M		$1.4M	+57%		$3.0M	$2.2M	+36%
Net Income (Loss)	$0.5M		($0.5M)	+200%		($4.2M)	($4.2M)	–

BIO-key’s CEO Michael DePasquale commented, “In the past year, we worked to lay the foundation for long-term revenue growth. We focused on increasing our base of customers, growing our distribution channels, and launching a new line of products to deliver BIO-key’s secure biometric technology to both enterprise and consumer customers. Our efforts resulted in solid results including net income in our fourth quarter and 110% revenue growth in 2017. We are pleased with BIO-key’s performance as it reflects the ramping demand and growing adoption of our secure biometric solutions.  I am confident that we are on the right track as we pursue our goal of becoming a profitable company.”

Click here to read the full press release.