BIO-key(R) International, Inc. Reports Profitable

BIO-key(R) International, Inc. Reports Profitable 2012 First Quarter Financial Results
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Bio-Key Intl (OTCBB:BKYI)
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Today : Tuesday 8 May 2012
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BIO-key International, Inc. (OTCBB:BKYI), a leader in finger-based biometric identification solutions, today reported financial results for the first quarter ended March 31, 2012.

Total revenue for the three months ended March 31, 2012 was approximately $1.4 million, which was equal to the $1.4 million reported for the quarter ended March 31, 2011.

BIO-key's gross margin for the first quarter of 2012 was 87% compared to 92% for the same period in 2011. Operating expenses for the first quarter of 2012 decreased 15% to approximately $859,371 compared to $1,006,253 in the comparable quarter ended March 31, 2011. Operating income for the first quarter of 2012 was $369,626 compared to $283,988 reported in the quarter ended March 31, 2011.

Net income for the first quarter of 2012 was $363,498, a 51% improvement over the net income of approximately $240,071 for the comparable quarter in 2011.