BIO-key Discloses Orders From A ‘Foreign Defense Ministry’ – But Stock Loses Initial Gains
Synopsis
The company, however, did not disclose the organization's name but stated that it currently supports more than 50,000 licensed users for the ministry.
BIO-key International Inc (BKYI) on Thursday announced that the cyber-defense unit of a foreign defense ministry has placed a $280,000 order to expand its biometric authentication system to more personnel.
BIO-key, however, did not disclose the organization's name but added that it currently supports more than 50,000 licensed users for the ministry. The new deal brings the customer's total orders to about $1.14 million over the past 12 months, with more orders potentially expected.
The company said its biometric identity and access management technology allows secure logins without phones, tokens, or removable devices.
BKYI shares reversed initial gains to trade 5% lower in pre-market.
Get updates to this developing story on Stocktwits.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.