Viisage to Hire New Independent Registered Public Accounting Firm
24 März 2006 - 1:05PM
Business Wire
Viisage (Nasdaq: VISG) today announced that BDO Seidman, LLP
advised the Company that BDO Seidman will no longer serve as its
independent registered public accounting firm. The Company, in
conjunction with its Audit Committee, is currently interviewing
several major public accounting firms as a successor independent
registered public accounting firm. There were no disagreements with
BDO Seidman for the years ended December 31, 2004 or 2005. "We
appreciate the contributions made by BDO Seidman and for its work
in the past," said Robert V. LaPenta, Chairman of the Board of
Viisage. "As a result of recent mergers and acquisitions and a
robust business environment the Company is experiencing dramatic
growth and changes. We are pleased with integration activities to
date, including the implementation of stronger financial controls
and disciplines throughout the organization." Mr. LaPenta added
that the merger with Identix is on track to be completed in the
second quarter, and the Company intends to have a new accounting
firm appointed prior to the merger. The Company anticipates
reporting its first quarter 2006 financial results in a timely
manner. 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 FaceTOOLS(R) SDK, Viisage PROOF(TM), FaceEXPLORER(R),
Viisage iA-thenticate(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 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 Report 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.
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