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[polo6ndriver83]

MONDAY , FEBRUARY 23, 2004 04:00 PM

MINNEAPOLIS, Feb 23, 2004 /PRNewswire-FirstCall via COMTEX/ -- Datakey, Inc. (OTC Bulletin
Board: DKEY), a leading developer of information security software products that simplify and
secure access to corporate information, today reported results for the fourth quarter ended
December 31, 2003. Revenue for the fourth quarter was $1,018,000, a decrease of 32 percent
from $1,507,000 for the same period last year. The fourth quarter loss from continuing operations
was $988,000, or $.09 per share, compared to a loss of $761,000, or $.08 per share, in the
year-earlier period. Net loss in the 2003 fourth quarter included a "non cash" interest expense
charge of $123,000 representing amortization of the $600,000 value of warrants issued in
connection with a convertible debt financing completed in October.

Revenue for the twelve-month period ended December 31, 2003 was $4,113,000 compared to
$7,257,000 for the same period last year. Net loss from continuing operations in the twelve-month
period ended December 31, 2003 was $4,079,000, or $.39 per share, compared to a net loss from
continuing operations of $2,668,000, or $.26 per share, in the year-earlier period.

"2003 was a transition year for Datakey. Although not yet reflected in our financial results, we are
encouraged by our leading business indicators including sales pipeline size and growth, new
customers, new channel partners and market recognition of Datakey Axis," said Tim Russell,
president and CEO of Datakey. "We continue to execute our plan to introduce new products, build
a management team focused on revenue growth and a sales focus on building an indirect sales
channel."

Highlights of the Quarter Include:



New Financing

Datakey obtained $3.12 million in new financing from a group of accredited investors including
three of our largest existing shareholders. In two separate transactions, the Company received
$1.12 million from the exercise of existing warrants and $2 million from a convertible debt
financing. This is an important accomplishment as it provides the funding needed to successfully
launch Datakey Axis and continue to execute our plan.

Datakey Axis Status

We are encouraged by the positive reception that our Datakey Axis product is receiving from
customers and reseller partners. Evidence of the market acceptance is our recent notification that
readers of Microsoft Certified Professional Magazine have named Datakey Axis as the best product
for "Enforcing Strong Network Authentication," according to results published in the December 2003
"Products You Love" issue. Additional evidence is reflected in the efforts of our sales and business
development team that delivered 39 new Axis customers in the quarter and trained over 25 new
resellers to sell Datakey Axis.

New Customers

During the quarter, Datakey obtained orders from 90 new customers including the US Department
of Treasury, the largest mortgage banker in Germany and a government agency in the Middle
East. Additionally, several large customers continued their production deployments during the
quarter including the US Department of State, Rabobank and a major US financial services
organization. These continued deployments demonstrate the value of Datakey CIP (PKI) and Axis
authentication products to discriminating customers and partners worldwide.

Organizational Changes

Datakey is pleased to announce the addition of Dave Feste to the management team as Vice
President and Chief Financial Officer. Mr. Feste replaces Alan Shuler who has resigned from the
Company to pursue other interests. Mr. Feste brings a strong background of nearly 30 years in
financial management for growing public companies, most recently as Chief Financial Officer of
Cima Labs.

Guidance

Our principal objectives for 2004 are to broaden our sales and marketing efforts to establish Axis
in the marketplace and grow the sales of our current PKI-focused products in selected markets.
We expect 2004 revenue to grow significantly above 2003 levels, but are not providing specific
forward- looking guidance at this time.

About Datakey Inc.

Datakey Inc. ( www.datakey.com ) focuses on delivering complete smart card-based solutions that
simplify access throughout the enterprise. Our solutions significantly increase the convenience and
security for users logging into company resources by consolidating all digital credentials --
including passwords, digital certificates, VPN credentials and biometric data -- onto one smart card
and automating access through a single sign-on. Datakey`s fully integrated smart card-based
single sign-on systems allow our customers to automatically enforce stronger access controls while
at the same time eliminating the need for the user to remember and manage multiple complex
passwords.

Forward Looking Statements

Some of the statements in this press release are forward-looking: Statements relating to
favorable business indicators including sales pipeline size and growth, new customers and channel
partners and market recognition of Datakey Axis; the sufficiency of new financing to provide the
funding needed to successfully launch Datakey Axis; the continuation of the deployment of CIP
(PKI) and Axis authentication products; the ability to establish Axis in the marketplace and grow
sales of PKI-focused products; and the expectation to grow 2004 revenues significantly above
2003 levels. Datakey faces certain risks and uncertainties that could cause actual results to differ
materially from those expressed in any forward-looking statements, including the following: the
ability of the Axis to perform as projected; sufficient market acceptance of Axis to generate
product profitably; increased sales of the PKI products; susceptibility of the information security
market and Datakey`s product sales to economic conditions; dependence on the recruiting and
retention of strong channel partners; and the ability of Datakey to maintain product advantages
and product pricing over competing products. Datakey has outstanding a $2.0 million convertible
debt loan which will be due at the end of October, 2004. If the loan is not converted, Datakey will
have to seek new debt or equity financing, and Datakey can make no assurances that such new
financing will be available on acceptable terms or at all. The forward- looking statements and risks
stated in this press release are based on information available to Datakey today. Datakey
assumes no obligation to update them.


DATAKEY, INC.
CONDENSED STATEMENTS OF INCOME
(000`s except EPS)

Three Months Ended Twelve Months Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2003 2002 2003 2002

Total Revenue $1,018 $1,507 $4,113 $7,257
Cost of sales 464 716 2,239 3,601

Gross Profit 554 791 1,874 3,656

Operating expenses

Engineering, R&D and
technical support 520 564 2,054 2,314
Sales and marketing 818 907 3,059 3,347
General and administrative 46 88 692 707
Total Expenses 1,384 1,559 5,805 6,368

Operating Loss (830) (768) (3,931) (2,712)

Interest Income (Expense) (158) 7 (148) 44
Net Loss Before Taxes (988) (761) (4,079) (2,668)

Income Tax Expense 0 0 0 0
Net Loss From Continuing
Operations $(988) $(761) $(4,079) $(2,668)
Loss Per Share-Continuing
Operations $(0.09) $(0.08) $(0.39) $(0.26)

Income From Operations of
Discontinued Segment 0 0 0 0
Gain On Disposal of Discontinued
Segment 0 0 0 351
Total Gain From Discontinued
Operations $0 $0 $0 $351
Net Income per Share From
Discontinued Operations $0.00 $0.00 $0.00 $0.03

Net Loss $(988) $(761) $(4,079) $(2,317)
Net Loss Per Share, Primary and
Fully Diluted $(0.09) $(0.08) $(0.39) $(0.23)

Weighted Average Common Shares-
Primary and Fully Diluted 11,323 10,083 10,423 10,075

CONDENSED BALANCE SHEETS
(000`s )

Dec. 31, Dec. 31,
Assets 2003 2002
Cash $2,702 $2,563
Other current assets 1,442 2,762
Non current assets 674 546
Total Assets $4,818 $5,871

Liabilities and Equity
Current liabilities $2,309 $1,017
Deferred Revenue 306 355
Equity 2,203 4,499
Total Liabilities and Equity $4,818 $5,871

[polo6ndriver83]

was sehr interessant ist wäre dieser teil:

New Customers

During the quarter, Datakey obtained orders from 90 new customers including the US Department
of Treasury, the largest mortgage banker in Germany and a government agency in the Middle
East. Additionally, several large customers continued their production deployments during the
quarter including the US Department of State, Rabobank and a major US financial services
organization. These continued deployments demonstrate the value of Datakey CIP (PKI) and Axis
authentication products to discriminating customers and partners worldwide.

oder was sagt ihr ??

[polo6ndriver83]

und das hier ist auch sehr interessant !!
New Financing

Datakey obtained $3.12 million in new financing from a group of accredited investors including
three of our largest existing shareholders. In two separate transactions, the Company received
$1.12 million from the exercise of existing warrants and $2 million from a convertible debt
financing. This is an important accomplishment as it provides the funding needed to successfully
launch Datakey Axis and continue to execute our plan.

[polo6ndriver83]

hat keiner von euch eine meinung dazu ??