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 SUNNYVALE, Calif., Aug. 31 /PRNewswire/ -- Identix Inc. (AMEX: IDX; NASDAQ: IDXNP, IDXNW), a leader in live-scan electronic fingerprint technologies and systems and biometrics, today announced results for the fourth quarter of fiscal 1993 and for its fiscal year, ended June 30. Fourth quarter revenues were $4,090,000, with a net loss of $1,122,000, or $0.07 loss per share, compared to revenues of $1,235,000 and a net loss of $482,000 or $0.04 loss per share for the same period in 1992. The company acquired ANADAC Inc. (ANADAC) on Oct. 23, 1992 through a merger transaction in which ANADAC became a wholly owned subsidiary of the company. The 231 percent revenue increase includes the consolidation of the operations of ANADAC since the acquisition.
 Revenues for the fiscal year were $11,926,000, with a net loss of $3,094,000, or $0.20 loss per share, compared to fiscal 1992 revenues of $3,713,000 and a net loss of $3,025,000 or $0.24 loss per share. The revenue increase again includes the consolidation of the operations of ANADAC since its acquisition.
 Identix President and CEO Randall Fowler stated, "Based on current and anticipated contracts, our investment in maintaining our clear-cut technical leadership and as the only company to meet the newest criteria set by the FBI and the National Institute for Standards Testing (NIST) for live-scan equipment, we are in a prime position to capture a significant share of the expanding market for state-of-the-art live-scan fingerprinting and automated booking equipment among law enforcement agencies nationwide."
 Federal entities administering such areas as welfare, immigration and prisons have also turned to major computer systems integrators for verification programs and hardware, Fowler added, with Identix' personal verification terminals (PVTs) "pivotal elements of those systems."
 He said that the market for PVTs "extends beyond law enforcement, with the private sector placing greater emphasis on security systems to protect access to offices and other facilities, data banks, ATMs -- any source where verification is of primary importance. We're working aggressively here in the United States and overseas with our strategic partners to capture our share of those expanding markets with our advanced biometric systems.
 "The past year was one in which Identix became a market-driven supplier of products for today's market requirements," Fowler said, "whereas in the past we were a technology-driven developer of products for markets that had yet to coalesce."
 He added, however, that the company planned to remain ahead of its competition in technology by continuing its commitment to research and development during fiscal 1994, while stepping up even further its marketing and sales program.
 "Staying in front on the ever-tougher standards set by the FBI, NIST and other law enforcement groups is a priority item," Fowler commented. "Our equipment is completely compatible with the current National Crime Information Computer (NCIC) system and with the specifications for the FBI's new $250 million NCIC system scheduled for installation next year.
 "We were the first to meet all these standards and at present no other live-scan systems can meet all of them," he said.
 Fowler said that the acquisition of ANADAC "has already more than proven its worth in terms of giving us a stronger East Coast presence, together with systems consulting and integration, communication and networking skills that would have taken many years and millions of dollars to replicate. The combination of Identix and ANADAC has created our industry's only systems approach to fingerprint identification."
 Fowler also noted that Identix, already the official vendor for the State of California where a number of orders were obtained during the past year and others are now in process, was awarded a similar designation last April for the State of Washington.
 "The California and Washington contracts were the first two such statewide contracts in the nation," Fowler said. "And we believe our advanced technology will keep us competitive."
 CFO James Scullion reported that the company's balance sheet continued to show improvement during the fiscal year, with a current ratio of 2:1, cash and equivalents of $2.3 million and long-term debt to equity ratio of 0.09:1.
 Identix Inc. designs, manufactures and markets biometric personal identity verification systems for security applications and products for law enforcement that optically scan, analyze algorithmically and transmit fingerprint images. ANADAC, its wholly owned subsidiary, provides information technology, engineering, system integration and consulting services. The company's common stock is traded on the American Stock Exchange and Pacific Stock Exchange under the ticker symbol IDX. The company's preferred stock and warrants are traded on NASDAQ under the symbols IDXNP and IDXNW, respectively.
 Consolidated Statements of Operations
 Three Months Ended 12 Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Net revenue $4,090,000 $1,235,000 $11,926,000 $3,713,000
 Cost of net
 revenues 3,525,000 762,000 9,875,000 2,509,000
 Research &
 development 416,000 263,000 1,123,000 1,468,000
 Selling, general
 & administrative 1,321,000 638,000 3,878,000 2,682,000
 Loss from
 operations (1,172,000) (428,000) (2,950,000) (2,946,000)
 Other income
 (expense) 50,000 (54,000) (144,000) (79,000)
 Net loss ($1,122,000) ($482,000) ($3,094,000) ($3,025,000)
 Net loss per
 common share ($0.07) ($0.04) ($0.20) ($0.24)
 Weighted average
 common shares
 outstanding 16,139,000 12,567,000 15,264,000 12,434,000
 -0- 8/31/93
 /CONTACT: James P. Scullion of Identix, 408-739-2000; or Owen Daley of South Coast Communications, 714-252-8440/

CO: Identix Inc.; ANADAC Inc. ST: California IN: SU: ERN

MF-LM -- LA011 -- 7316 08/31/93 07:27 EDT
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Publication:PR Newswire
Date:Aug 31, 1993

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