Viisage (NASDAQ:VISG)
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Viisage (Nasdaq: VISG) today announced that the Audit
Committee of the Viisage Board of Directors has appointed Deloitte &
Touche LLP as its independent registered public accounting firm. The
Deloitte engagement commences with a limited review of Viisage's
financial results for the first quarter ended March 31, 2006 to be
filed on Form 10-Q. Viisage anticipates filing for an extension on the
Form 10-Q filing date until May 15, 2006 to allow time for Deloitte to
complete the procedures necessary for a first-time engagement.
"The appointment of Deloitte & Touche LLP is another step in
fulfilling our vision of building a leading provider of end-to-end
identity solutions," said Robert V. LaPenta, chairman of the board of
Viisage. "We are committed to growth and profitability, and to proper
internal controls and financial systems in order to provide accurate
and reliable financial data to our management and shareholders."
About Viisage
Viisage (NASDAQ: VISG) delivers advanced technology identity
solutions for governments, law enforcement agencies and businesses
concerned with enhancing security, reducing identity theft, and
protecting personal privacy. Viisage solutions include secure
credentials such as passports and drivers' licenses, biometric
technologies for uniquely linking individuals to those credentials,
and credential authentication technologies to ensure the documents are
valid before individuals are allowed to cross borders, gain access to
finances, or granted other privileges. With over 3,000 installations
worldwide, Viisage's identity solutions stand out as a result of the
Company's industry-leading technology and unique understanding of
customer needs. Viisage's product suite includes IdentityTOOLS(TM)
SDK, Viisage PROOF(TM), FaceEXPLORER(R), iA-thenticate(R),
ID-GUARD(R), BorderGuard(R), PIER(TM), HIIDE(TM), AutoTest(TM),
FacePASS(TM) and FaceFINDER(R).
This news release contains forward-looking statements that involve
risks and uncertainties. Forward-looking statements in this document
and those made from time to time by Viisage through its senior
management are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect the Company's current views with
respect to the future events or financial performance discussed in
this release, based on management's beliefs and assumptions and
information currently available. When used, the words "believe",
"anticipate", "estimate", "project", "should", "expect", "plan",
"assume" and similar expressions that do not relate solely to
historical matters identify forward-looking statements.
Forward-looking statements concerning future plans or results are
necessarily only estimates and actual results could differ materially
from expectations. Certain factors that could cause or contribute to
such differences include, among other things, in particular, the
Company's ability to obtain a timely review of its financial results,
the size and timing of contract awards, performance on contracts,
performance of acquired companies, availability and cost of key
components, unanticipated results from audits of the financial results
of the Company and acquired companies, changing interpretations of
generally accepted accounting principles, outcomes of government
reviews, developments with respect to litigation to which we are a
party, potential fluctuations in quarterly results, dependence on
large contracts and a limited number of customers, lengthy sales and
implementation cycles, market acceptance of new or enhanced products
and services, proprietary technology and changing competitive
conditions, system performance, management of growth, dependence on
key personnel, ability to obtain project financing, general economic
and political conditions and other factors affecting spending by
customers, and the unpredictable nature of working with government
agencies. In addition, such risks and uncertainties include, among
others, the following risks: that the merger with Identix will not
close, that the regulatory or shareholder approval will not be
obtained, that the closing will be delayed, that customers and
partners will not react favorably to the merger, integration risks,
the risk that the combined companies may be unable to achieve
cost-cutting synergies, and other risks described in Viisage's and
Identix' Securities and Exchange Commission filings, including the
Registration Statement on Form S-4 to be filed with the SEC in
connection with the transaction, Viisage's Annual Report on Form 10-K
for the year ended December 31, 2005 under the captions "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition and
Results of Operations," and Identix' Annual Report on Form 10-K for
the year ended June 30, 2005 and its Quarterly Reports on Form 10-Q
for the quarters ended September 30, 2005 and December 31, 2005 under
the captions "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations." Viisage expressly
disclaims any obligation to update any forward-looking statements.