PHOENIX, AZ / ACCESSWIRE / April 18, 2019 / Uptick Newswire Stock Day Podcast welcomed BIO-key International, Inc. (OTCQB: BKYI) ("the Company"), a company revolutionizing authentication with biometric solutions that enable convenient and secure access to information and high-stakes transactions. CEO and Chairman, Michael DePasquale, joined Stock Day host Everett Jolly to discuss substantial revenues for 2019.
Jolly began the interview by noting that BIO-key closed the fourth quarter of 2018 with $1.7 million in revenue. Jolly then asked DePasquale to explain the Company's 2019 financial guidance which seeks revenue rising over 150% to $11 million to $14 million compared to $4 million for the full year 2018.
DePasquale explained that BIO-key ended 2018 closing a $10 million contract in December, of which only $1.1 million of revenue from the contract was recorded in 2018. "We're coming into 2019 with a strong backlog of approximately $7-$8 million in contracted revenues," stated DePasquale.
Jolly then asked about BIO-key's expected cash flow and earnings per share in 2019. DePasquale stated the Company expects to have positive cash flow, EPS, and EBITDA for the full year 2019. "We do believe that 2019 is a breakout year for us," stated DePasquale.
"More importantly, because of the backlog we have, our performance will be more consistent," added DePasquale, as BIO-key receives monthly cash payments under its $10M software license contract.
Jolly then asked about BIO-key's current projects and the future monetization of its biometric security algorithms and technologies. DePasquale explained that one of the Company's specialties is finger biometrics, which remains the most dominant, reliable and time-tested form of biometric identification. However, the Company's WEB-key(R) software platform has the capability to support multiple methods of authentication, including numerous forms of biometrics.
Jolly then asked about BIO-key's international sales and the company's global prospects going forward. DePasquale shared that the Company has multiple international customers across a growing array of countries, and one of the strongest demands for their technology has come from the law enforcement industry. "We closed a deal with the Singapore police and more recently with the Dubai police," he added.
To close the interview, DePasquale explained that the demand for advanced security technologies is growing rapidly with the current preference for authentication being in the biometrics space. "We are one of the few companies that can offer a full and complete solution, including the hardware, software, and the services to satisfy that demand and requirement. And we do it across virtually every industry," stated DePasquale. He added that BIO-key represents a significant growth opportunity with tremendous upside as businesses, consumers and governments act to protect critical data, devices, transactions and IP using stronger multifactor methods such as biometrics.
To hear Michael DePasquale's entire interview, follow the link to the podcast here: https://upticknewswire.com/featured-interview-ceo-michael-depasquale-of-bio-key-international-inc-nasdaq-bkyi-3/
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About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing authentication with biometric solutions that enable convenient and secure access to information and high-stakes transactions. We offer alternatives to passwords, PINs, tokens, and cards to make it easy for enterprises and consumers to secure their devices as well as information in the cloud. Our premium finger scanning devices offer market-leading quality, performance, and price. BIO-key also brings the power and ease of use of biometric technology to its TouchLock line of biometric and Bluetooth enabled padlocks - providing even more ways to BIO-key your world!
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our ability to develop new products and evolve existing ones, customer and market acceptance of biometric solutions generally and our specific offerings, our ability to expand sales within existing customer relationships, our ability to raise additional capital, and our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2017, and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made.
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Investor & Media Contacts:
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Catalyst Global
212-924-9800
[email protected]
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SOURCE: Uptick Newswire