ImageWare Systems Secures $3.5 Million in New Orders
31 März 2008 - 10:02PM
Business Wire
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.
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