BIO-key Reports Third Quarter 20... (Net loss was ($0.4 million) for the nine...)

BIO-key Reports Third Quarter 2007 Results

Date:11/14/2007

Net loss was ($0.4 million) for the nine months ended September 30, 2007 compared to a net loss of ($11.1 million) for the corresponding period in 2006. The net loss amount in the 2006 period included $7.8 million from the extinguishment of convertible debt compared to a similar item of $0.4 million for the nine months ended September 30, 2007. During the first nine months of 2007, BIO-key gained $4.1 million in profit from the sale of its Fire/EMS services division to ZOLL Data Systems in May 2007. Net loss per share for the nine months ended September 30, 2007 was ($0.03) compared to a net loss per share of ($0.24) for the first nine months of 2006.

Liquidity and Capital Resources

Consolidated cash and cash equivalents at September 30, 2007 was $0.9 million. In addition, the Company held approximately $0.2 million in restricted cash at the conclusion of the third quarter of 2007.

Conference Call Details

BIO-key has scheduled a call for Wednesday, November 14th at 8:30 a.m. Eastern Time to discuss third quarter 2007 financial results. Dialing 303-262-2142 and asking for the BIO-key call at least 10 minutes prior to the start time can access the conference call live. The conference call will also be broadcast live over the Internet by logging onto http://www.bio-key.com. A telephonic replay of the conference call will be available through November 21, 2007 and may be accessed by dialing 303-590-3000 and using the pass code 11102027#. Additionally, an archive of the webcast will be available shortly after completion of the call on the Company's website (http://www.bio-key.com) for a period of three months.

About BIO-key

BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions and information services to law enforcement departments, public safety agencies, government and
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BIO-key Reports Third Quarter 20...(Net loss was ($0.4 million) for the nine...)