Imageware (AMEX:IW)
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ImageWare Systems, Inc. (AMEX: IW), a leading developer of
identity management solutions, has received new orders totaling $3.5
million, the majority of which were received in the past two weeks. The
orders are from multiple customers for the company’s
biometric identity management, secure credential and law enforcement
solutions. The largest order is through a systems integrator partner to
provide an international transportation security authority credential
program. During the first quarter, management expects to recognize
revenue of $1.3 million from the $3.5 million in orders, with the
remainder to be delivered and recognized throughout the year.
“These new orders validate our business model
of partnering with large integrators, demonstrates continued demand for
our identity management solutions and showcases our interoperable and
cross-functional solutions,” said Jim Miller,
ImageWare’s chairman and CEO. “The
international transportation security project exemplifies our strategy
and ability to integrate our solution into large-scale biometric
programs. Through our expanded relationships with major systems
integrators and government organizations, we look forward to delivering
more of our solutions as we broaden our customer base and increase our
offerings to existing customers.”
About ImageWare Systems, Inc.
ImageWare Systems, Inc. (AMEX:IW) is a leading developer of identity
management solutions, providing biometric, secure credential and law
enforcement technologies. Scalable for worldwide deployment, the
Company's biometric product line includes a multi-biometric engine that
is hardware and algorithm independent, enabling the enrollment and
management of unlimited population sizes. ImageWare's identification
products are used to manage and issue secure credentials including
national IDs, passports, driver licenses, smart cards and access control
credentials. ImageWare's digital booking products provide law
enforcement with integrated mug shot, fingerprint Livescan and
investigative capabilities. ImageWare is headquartered in San Diego,
with offices in Portland, OR, Washington DC and Canada. For more
information visit www.iwsinc.com.
Safe Harbor Statement
This news release may contain forward-looking statements made
pursuant to the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995. While
these statements are meant to convey to the public the company's
progress, business opportunities and growth prospects, readers are
cautioned that such forward-looking statements represent management's
opinion. While management believes such representation to be true
and accurate based on the information available to the company, actual
results may differ materially from those described. The company's
operations and business prospects are always subject to risks and
uncertainties. Important facts that may cause actual results to
differ are set forth in the company’s periodic
filings with the U.S. Securities and Exchange Commission.