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New Intellicheck (IDN) CEO Ludlow Cautions of Weak Ending to FY12

November 30, 2012 8:06 AM EST Send to a Friend
Nelson Ludlow, Ph.D., President and CEO of Intellicheck Mobilisa, Inc. (AMEX: IDN) issued the following letter to shareholders:

Dear Fellow Shareholders,

Along with many of you, I was deeply concerned by the recent news regarding the Company’s performance in the third quarter of 2012. Specifically worrisome is that new bookings were down about 50 percent for the first nine months of 2012, and down 78 percent for the third quarter.

As I begin my tenure as your new CEO, I am meeting with our customers, reviewing all business pending, and making several internal changes to emphasize new product development, provide stronger customer service, complete partnership agreements and increase emphasis on closing sales.

I do not anticipate a strong ending for 2012. The changes we are making will not have an immediate impact on recognized revenue in just a few weeks; rather, the goal is to make the company healthier over the next several quarters throughout 2013.

As we close new business, hire senior management and release new products, we will issue press releases to best keep you as shareholders informed, so that you may monitor our progress.

I ask for your continued support,

Nelson Ludlow, Ph.D.CEO




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