Corporate Profile for Mitek Systems Inc., dated Sept. 1, 1995.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and information services See Information Systems. . These include Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance News/Retrieval, Bloomberg Financial Markets, Reuter Company Newsyear, Reuter Business Briefing, DataTimes, Nexis, Dialog, NewsNet, America Online See AOL. , CompuServe, Delphi, Individual's HeadsUp and First!, Desktop Data's NewsEdge, UMI UMI University Microfilms International UMI United States Minor Outlying Islands (ISO Country code) UMI University of Miami UMI Universal Management Infrastructure (IBM) Data Courier, NewsBank, Information Access Company and many others. -0- Published date: Sept. 1, 1995 Company name: Mitek Systems Inc. Address: 10700 Carroll Canyon Rd. Telephone No.: 619/635-5900 Chief Executive Officer: John Kessler Investor Relations Contact: Jim Reeve Business number: 619/635-5900 Public Relations Contact: Jim Reeve Business number: 619/635-5900 Trading symbol: NASDAQ:MITK Industry: Software Development Company description: Mitek was formed in 1982, as a small consulting company in the TEMPEST area. At the end of the Cold War in 1990, the demand for TEMPEST equipment sharply declined. Mitek immediately began the search for new areas of technology that offered renewed growth. Focusing on imaging, the company acquired ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. technology from HNC (HNC Software Inc., San Diego, CA) A software company that specialized in products that detect credit card fraud, manage merchant risk, automate lending decisions and home valuations and manage retail inventories. Founded in 1986 by Robert Hecht-Nielsen and Todd W. Software Inc. in November 1992. MITEK developed its neural network technology and new products. The initial product, QuickStrokes API, is a family of "recognition engines," software/hardware packages that reads hand- and machine-printed characters, to be utilized by original equipment manufacturers (OEMs) and systems integrators. Two new products, the Network Intelligent Fax router (NiF) and the Premier Forms Processor (PFP PFP - Plastic Flat Package ) have unique capabilities and can be utilized direct and "as is" by end users. Annual sales for fiscal year 1994 were approximately $10 million while the company realized a net income loss of $1,058,000 due to the decline of the TEMPEST industry. Stock highs and lows for fiscal year 1994 were $1.688 and $.938, respectively CONTACT: Mitek Systems Inc. |
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