BIO-key Reports Mobile and New OEM Revenue Growth

WALL, NJ--(Marketwired - Jan 13, 2015) - BIO-key International, Inc. (OTCQB: BKYI), a leader in fingerprint biometric identification technologies and secure device-to-cloud mobile credentialing and identity verification solutions, today reported the company generated revenue in both the fourth quarter and full 2014 fiscal year from advanced fingerprint authentication solutions within its OEM & Mobility business segment. The OEM business, including Mobility, generated over $500K in revenue in the fourth quarter FY 2014 and nearly $2M for the full fiscal year.

Following the launch of its Strategic Development Agreement with InterDigital Corporation (IDCC), BIO-key entered collaborative development efforts with Advanced Micro Devices (AMD) and Trustonic. The Company expanded the capabilities of its NIST-validated Vector Segment Technology algorithm to include full size, small area and swipe sensors. The Company licensed the technology to sensor manufacturers for delivery with their sensor hardware, resulting in growth in 2014 revenue. The solutions provide secure user authentication on the device or in the network and cloud, offering the best-in-class combination of user-convenience and security without sacrificing one for the other. As a result, BIO-key is now uniquely capable of delivering fast and accurate fingerprint identification and verification on an OEM basis for any size fingerprint sensor produced for the Mobility, Identity & Access Management (IAM) and Internet-of-Things marketplaces.

"BIO-key is delivering technology to sensor manufacturers that enables them to offer solutions to meet the wide spectrum of secure authentication options their tier one OEMs require," said Jim Sullivan, BIO-key's Vice President of Strategy and Business Development. "Rather than placing security, convenience and interoperability at cross purposes, our customers can utilize BIO-key's flexible algorithm suite for everything from small sensor and in-device matching to highly secure, robust matches in the context of a security-sensitive use case. Our proven interoperable algorithm accommodates our customers' sensor technologies as they evolve over time between swipe and area, capacitive and thin film approaches. BIO-key is unique in serving this full range of use cases."