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 SUNNYVALE, Calif., May 6 /PRNewswire/ -- Identix Inc. (AMEX: IDX), a leader in fingerprint identification technologies and systems, today reported revenue of $4.1 million with a net loss of $737,000, or $0.05 loss per share, for its third quarter ended March 31. The results are the first to include a full quarter's operations of the recently acquired subsidiary, ANADAC. The results compare to revenue of $1.0 million with a net loss of $675,000, or $0.05 loss per share, for the third quarter of the previous year.
 Identix President and Chief Executive Officer Randall Fowler commented, "The acquisition of ANADAC has broadened our systems integration capabilities, and ANADAC's service orientation enables us to serve customers in the eastern United States more directly. The ability to design and integrate very large-scale networked systems differentiates Identix from our standalone workstation competitors. More important, these advantages enable us to compete on an enhanced basis for the statewide, systems-oriented law enforcement contracts that are scheduled to be bid this year." He noted that 1993 is the first year that several statewide contracts for live-scan fingerprint systems are scheduled to be bid.
 He said that the company's marketing and sales activities are targeted to establish a commanding market share during the critical contract years of 1993 and 1994. "We are pricing aggressively and marketing aggressively. That meant thinner margins and relatively high selling costs this quarter, and will mean the same for the next couple of quarters. Fortunately, we have the lead in products, engineering, communications and systems orientation. And our engineering cost reduction programs already in process will help us restore more appropriate margins as cost reductions are implemented later this year."
 Fowler noted that Identix received a contract for its TouchPrint(TM) live-scan fingerprint ID systems for the State of Washington during the quarter, together with an initial order for installations in four Washington counties. The company also installed a live-scan TouchPrint pilot system in the Manhattan Midtown South precinct in New York City. The company believes that New York City will eventually issue a request for proposal for up to 75 booking stations in a sophisticated communications network.
 Chief Financial Officer James Scullion noted that the company's balance sheet was substantially improved during the year by the sale of preferred stock and warrants in February. As of March 31, the company had cash of $3.2 million, up from $31,000 at June 30, 1992, the end of the previous fiscal year. It has working capital of $5.0 million, a current ratio of 2.2:1, and a long-term debt to equity ratio of 0.11:1.
 For the nine months ended March 31, 1993, the company reported revenue of $7.8 million with a net loss of $2.0 million, or $0.14 loss per share, compared to revenue of $2.5 million with a net loss of $2.5 million, or $0.21 loss per share, for the same period of the previous year.
 Identix Inc. designs, manufactures and markets personal identity verification systems for security applications and products for law enforcement that optically scan and analyze 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 under the ticker symbol IDX. The company's preferred stock and warrants are traded on NASDAQ under the symbols IDNXP and IDNXW, respectively.
 Selected Financial Data
 Three months ended Nine months ended
 March 31, March 31,
 1993 1992 1993 1992
 Net revenues $4,114,000 $1,033,000 $7,836,000 $2,478,000
 Cost of net
 revenues 3,610,000 658,000 6,350,000 1,747,000
 Selling, general
 & administrative 1,201,000 1,015,000 3,320,000 3,249,000
 Loss from
 operations (697,000) (640,000) (1,834,000) (2,518,000)
 Other income
 (expense) (40,000) (35,000) (138,000) (25,000)
 Net loss ($737,000) ($675,000)($1,972,000)($2,543,000)
 Net loss per
 common share ($0.05) ($0.05) ($0.14) ($0.21)
 Weighted average
 common shares
 outstanding 15,682,000 12,518,000 14,480,000 12,391,000
 -0- 5/6/93
 /CONTACT: James P. Scullion of Identix, 408-739-2000; or Joseph Allen of South Coast Communications, 714-731-4341, for Identix/

CO: Identix Inc. ST: California IN: CPR SU: ERN

BP-JL -- LA015 -- 5172 05/06/93 07:32 EDT
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Publication:PR Newswire
Date:May 6, 1993

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