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BIO-key® Reports Strong 2010 Second Quarter and Six Month Financial Results
Date:7/28/2010

n class="xn-chron">June 30, 2010 and June 30, 2009, respectively. Accounting for income from derivative and warrant fair value adjustments and income from discontinued operations, BIO-key's net income for the six month period ended June 30, 2010 was $1,235,324 compared to net income of $361,819 for the same period in  2009. The 2009 first half income included approximately $2.0 million related to discontinued operations.

Liquidity and Capital Resources

Consolidated cash, cash equivalents and accounts receivables totaled over $2.4 million on June 30, 2010, compared to approximately $1.7 million as of December 31, 2009. 

Highlights for the second quarter included the following:

  • Contract award in excess of $560,000 from one of the nation's foremost organizations specializing in transfusion medicine and related services, for the deployment of our WEB-key software for donor identification.
  • Contract from an existing partner to deploy our technology for a new foreign customer.
  • Purchase orders totaling over $175,000 for a new deployment of our biometric software at Genesis HealthCare Systems in Ohio.
  • The first deployment with our newest partner, Epic. Their solution now includes our biometric software. Epic is a supplier of integrated software for mid-size to large medical groups and integrated healthcare organizations.
  • Our partner Sentillion (a Microsoft® Company) has completed the first
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SOURCE BIO-key International, Inc.
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