Bio-key International, Inc. (NASDAQ: BKYI) reported Q2 EPS of ($0.32). Revenue for the quarter came in at $887 thousand, versus $0 reported last year.

Financial Guidance

Based on the company's year to date performance, combined with anticipated revenues discussed herein and sales and marketing efforts for its hardware and software solutions, including several large enterprise opportunities in pilot stages, management reiterates its 2017 revenue guidance range of $6M to $12M, with a gross margin range of 53% to 70% depending on the mix of software and hardware sales.

GUIDANCE:

Bio-key International, Inc. sees FY2017 revenue of $6-12 million.

Q2'17 Financial Highlights:

• Total revenues rose 113% in Q2'17 to $887,000 vs. Q2'16, but did not include a $600,000 professional services contract executed in Q2'17 which will be recognized during the second half of 2017.
• Software license revenues rose 76% to $128,000 reflecting demand from both new and existing customers.
• Hardware sales rose 281% to $467,000, reflecting broader distribution and increased demand for BIO-key's fingerprint reader lines with plug & play integration to Windows 10.
• Q2'17 results also included $158,000 in revenue from initial shipments of BIO-key's recently launched TouchLock™ line of biometric padlocks and bicycle locks in Asia.

For earnings history and earnings-related data on Bio-key International, Inc. (BKYI) click here.