VIISAGE TECH. 903748
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Da der Kurs um 20 % in denleztzen Tgen abgestürzt ist, sieht das nicht so gut aus!
Wenn keien Adhoc, dann siehts verdammt schlecht aus!
s. Tria, da kam keien Adhoc, aber schlechte Zahlen raus und update brachte ne Adhoc, bevor die Zahlen kamen, und die Zahlen waren positiv!
Muß nicht immer so sein und sollte so auc nicht sein!
Weil das mauscheln halt nichts bringt!
Der Tag der Wahrheit kommt immer!
-Umsatz: +85% 2Q2004:16,28Mill (2Q2003:8,78Mill)
-das vierte Rekordquartal hintereinander
-Ergebnis: nur noch -0,01Cent/Aktie (-0,317MillDollar; 2Q2003:-1,38Mill und -0,07Cent/Aktie)Analystenscchätzungen lagen bei -0,02
Hier nun die erfreulichen News:
Viisage Reports Second Quarter 2004 Results; Revenues increase 85% year over year; Company affirms annual guidance
21 July 2004, 5:57pm ET
BILLERICA, Mass.--(BUSINESS WIRE)--July 21, 2004--Viisage (NASDAQ: VISG), a leading provider of advanced technology identity solutions, today announced results for the second quarter ended June 27, 2004.
Revenues for the second quarter of 2004 totaled $16.28 million, the fourth consecutive quarter in which revenues set a new company record, up 85% from $8.79 million in the comparable period last year, as reported in accordance with the change in accounting principle described below. The net loss for the second quarter of 2004 was $317,000, or $0.01 per basic and diluted share, compared to the net loss of $1.38 million, or $0.07 per basic and diluted share, for the second quarter of 2003.
Separately, the Company announced today that it has reached a settlement with the Department of Motor Vehicle Safety for the State of Georgia, designed to enable the state to end its litigation with a competitor of Viisage over the state drivers' license contract awarded to Viisage in 2002. The state has confirmed that it intends to issue a new request for proposals for its drivers' license system later this year.
On December 30, 2003, Viisage adopted new accounting rule EITF 00-21, " Accounting for Revenue Arrangements with Multiple Deliverables," which pertains to revenue recognition for certain long-term contracts, such as Viisage's state drivers' licenses, retroactive to January 1, 2003.
" We are very pleased with our financial and operational performance during the second quarter, our first full quarter including the results of our recent acquisitions, as we solidified our position as a leading identity solutions company," said Bernard Bailey, president and CEO of Viisage. " We quickly integrated the acquisition of Trans Digital Technologies (TDT), announced in the first quarter, culminating in a critical contract win of the Department of Defense Common Access Card program, which is expected to generate more than $10 million in revenue over this year and next. We also demonstrated continued traction in the important law enforcement market, with the expansion of our work to a mobile solution in Pinellas County, Florida; a new contract in Jefferson County, Alabama; and another contract with a major metropolitan law enforcement organization."
Bailey concluded, " We believe we are executing well on our strategy to provide our customers with the full lifecycle of identity solutions, and we think we are well positioned to continue our growth, both organically and through partnerships and select acquisitions. We also believe that the action announced today to help end the stalemate in Georgia will enable us to move forward and focus our resources on a wide range of current opportunities around the world that fit our capabilities strategically, while still providing us with the potential to win that drivers' license contract again when the new request for proposals is issued this year."
Bill Aulet, Viisage's chief financial officer, added, " Viisage continued to significantly improve its financial performance in the past quarter, leveraging an 85% revenue increase on a year-over-year basis along with tight expense controls to post gross margins of 31%, up substantially on an annual and sequential basis. EBITDA (earnings before interest, taxes, depreciation and amortization) grew from $709,000 in the second quarter last year to $3.14 million in the same period this year. Cash at the end of the quarter totaled approximately $12.62 million. This progress provides us with the confidence to confirm our guidance for 2004. We continue to expect revenue between $60-63 million and EBITDA of $10-11 million."
Highlights for the second quarter of 2004 included the following achievements:
-- Confirmed the value of the initial purchase order for the U.S.
Department of Defense's Common Access Card (CAC), the U.S.
Government's largest smart card deployment, at approximately
$10.2 million
-- Received a contract extension to continue research and
development efforts on 3D face recognition technology for the
U.S. Department of Defense
-- Formed partnerships with Bosch Security Systems and Oracle
Surveillance Systems, Inc. to expand into additional markets
with identity solution capabilities
-- Deployment of the mobile identity solution for law enforcement
in Pinellas County, Florida and abutting geographies
-- Awarded a contract valued initially at $400,000 for an image
capture and booking system for Jefferson County, Alabama, the
state's largest county
-- Awarded a contract with the corrections agency in a major
metropolitan area combining image capture and booking
solutions
Financial highlights for the second quarter of 2004 included:
-- Record revenues of $16.28 million
-- Gross margin improvement to 31% from 22% in second quarter of
2003 and 28% in first quarter of 2004
-- Generated positive cash flow during the quarter; posted
operating income of $231,000 versus operating loss of $1.15
million in same quarter last year and operating loss of $1.24
million in first quarter of 2004
-- Generated EBITDA of $3.14 million, compared to $700,000 in
same quarter last year
-- Backlog essentially flat at $171 million, compared to $176
million last quarter; backlog will be reduced $19.7 million in
the third quarter as a result of the settlement with Georgia
Also during the quarter, the Company announced the filing of a registration statement with the Securities and Exchange Commission for the sale by the Company of 7.2 million shares of its common stock, along with 300,000 shares of stock being sold by certain shareholders, in an underwritten public offering.
Total operating expenses for the second quarter of 2004 totaled $4.74 million, flat with the prior quarter this year, but up from $3.11 million in the comparable quarter last year, reflecting higher expenses following the acquisitions of ZN and TDT, and legal costs from the litigation in Georgia. Sales and marketing expenses were $1.58 million, research and development totaled $942,000, and general and administrative expenses were $2.22 million. Total operating expenses in the same quarter last year included $1.14 million in sales and marketing costs, $937,000 in research and development and $1.03 million in general and administrative costs.
On July 19, 2004, Fargo Electronics, Inc. filed an action in the U.S. District Court for the Eastern District of Virginia against Toppan Printing Co., Ltd. and TDT alleging that the Toppan CP400 printers being supplied by TDT for the U.S. Department of Defense CAC program infringe certain patents owned by Fargo. Viisage is currently evaluating the claims in the lawsuit and intends to vigorously defend this action. To date, the Company has received purchase orders for $10.2 million of Toppan CP400 printers for the CAC program which are expected to be delivered prior to the end of the first quarter of 2005.
Six Months Results
For the first six months of 2004, revenues totaled a record $28.54 million, an increase of 68% from $16.94 million for the first half of 2003. The net loss for the first half of 2004 was $1.95 million, or $0.06 per basic and diluted share, compared to a net loss in the 2003 period of $3.74 million, or $0.18 per basic and diluted share, which excludes the impact of the one-time charge of $12.13 million or $0.60 per share that the company recorded in connection with its change in accounting principle. Including that charge, the net loss for the first half of 2003 was $15.87 million, or $0.78 per basic and diluted share.
EBITDA
Viisage reports EBITDA as a financial performance measure and as a forecast of future performance. The Company calculates EBITDA by adding back to net earnings interest, taxes, depreciation and amortization. EBITDA is provided to investors as an additional performance gauge to results provided in accordance with generally accepted accounting principles (known as " GAAP" ). Viisage's EBITDA should not be considered in isolation or as a substitute for comparable measures calculated and presented in accordance with GAAP. Viisage recently completed the acquisitions of ZN and TDT. While these acquisitions are expected to have a positive impact on Viisage's EBITDA for 2004, they also result in Viisage incurring significant non-cash charges for amortization of intangible assets that adversely affect Viisage's net income in 2004. Viisage believes that using EBITDA as a performance measure, together with operating income (loss) and net income (loss), will help investors better understand Viisage's underlying financial performance and ability to generate cash flow from operations. A reconciliation of EBITDA to GAAP earnings is included in the following tables:
For the Quarter Ended
June 27, June 29,
----------------------------
2004 2003
-------------- -------------
(in thousands)
Loss before cumulative effect of change
in accounting principle $(317) $(1,376)
Add:
Depreciation and Amortization 2,856 1,854
Interest Expense, net 577 231
Taxes 25 --
-------------- -------------
EBITDA $3,141 $709
============== =============
Conference Call
Viisage will hold a conference call with the investment community to discuss these results on Thursday, July 22, 2004, at 8:30 am EDT. The call may be accessed via Webcast at the company's Web site ( www.viisage.com ), ten minutes prior to the start, or by calling 1-800-884-5695, confirmation code 33616254. Internationally, dial 1-617-786-2960 with the same confirmation code. A replay will be available as a Webcast, accessible on the company's Web site, one hour after the completion of the call.
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 creates solutions using secure credentials and face recognition technologies that quickly, reliably, and accurately identify individuals. 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.
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 the Company through its senior management are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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, the size and timing of contract awards, performance on contracts, availability and cost of key components, unanticipated results from audits of the financial results of acquired companies, changing interpretations of generally accepted accounting principles, outcomes of government reviews, 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, the unpredictable nature of working with government agencies and other risks, uncertainties and factors including those described from time to time in Viisage's filings with the Securities and Exchange Commission, including without limitation, Viisage's Form 10-K for the year ended December 31, 2003 and its quarterly reports on Form 10-Q. Viisage undertakes no obligation to update any forward-looking statements.
VIISAGE TECHNOLOGY, INC.
Consolidated Balance Sheets
(in thousands)
(Unaudited)
June 27, June 29,
2004 2003
------------ ------------
Assets
Current assets:
Cash & cash equivalents $ 9,503 $ 1,173
Accounts receivable 10,570 6,805
Costs & estimated earnings in excess of
billings 3,775 5,025
Other current assets 1,047 591
------------ ------------
Total current assets 24,895 13,594
Property and equipment, net 22,938 21,053
Goodwill 65,198 -
Intangible Assets, Net 17,518 3,018
Restricted Cash 3,120 5,120
Other assets 1,984 1,887
------------ ------------
$ 135,653 $ 44,672
============ ============
Liabilities & Shareholders Equity
Current liabilities:
Accounts payable & accrued expenses $ 10,921 $ 6,378
Related party payable 2,600 -
Current portion of project financing 3,989 4,553
Current portion of related party notes 10,885 1,621
------------ ------------
Total current liabilities 28,395 12,552
Project financing 6,024 6,740
Related party notes 7,932 2,099
Other liabilities 418 -
------------ ------------
Total Liabilities 42,769 21,391
Shareholders' equity 92,884 23,281
------------ ------------
$ 135,653 $ 44,672
============ ============
VIISAGE TECHNOLOGY, INC.
Consolidated Statements of Operations
(in thousands, except per share amounts)
(Unaudited)
Three Months Ended Six Months Ended
June 27, June 29, June 27, June 29,
2004 2003 2004 2003
--------- --------- --------- ---------
Revenues $ 16,276 $ 8,789 $ 28,535 $ 16,944
Cost of Revenues 11,307 6,826 20,213 13,615
--------- --------- --------- ---------
Gross Margin 4,969 1,963 8,322 3,329
--------- --------- --------- ---------
Operating Expenses:
Sales & marketing 1,578 1,138 3,071 2,549
Research & development 942 937 1,901 1,882
General &
administrative 2,218 1,033 4,355 2,126
--------- --------- --------- ---------
Total operating
expenses 4,738 3,108 9,327 6,557
--------- --------- --------- ---------
Operating income
(loss) 231 (1,145) (1,005) (3,228)
Interest expense, net 577 231 969 450
Other Income (54) - (75) -
--------- --------- --------- ---------
Loss before income taxes
and cumulative effect of
change in accounting
principle (292) (1,376) (1,899) (3,678)
Provision for income taxes 25 - 50 63
--------- --------- --------- ---------
Loss before cumulative
effect of change in
accounting principle (317) (1,376) (1,949) (3,741)
Cumulative effect of
change in accounting
principle - - - (12,131)
--------- --------- --------- ---------
Net loss $ (317)$ (1,376) $ (1,949)$ (15,872)
========= ========= ========= =========
Basic and diluted net loss
per share before cumulative
effect of change in
accounting principle $ (0.01)$ (0.07) $ (0.06)$ (0.18)
========= ========= ========= =========
Cumulative effect of change
in accounting principle $ 0.00 $ 0.00 $ 0.00 $ (0.60)
========= ========= ========= =========
Basic and diluted net loss
per share $ (0.01)$ (0.07) $ (0.06)$ (0.78)
========= ========= ========= =========
Basic and diluted weighted
average common shares 35,821 20,351 33,603 20,305
========= ========= ========= =========
CONTACT: Viisage
Bill Aulet, 978-932-2932
Grüße
Nagus
von gestern den 21.10.:
Viisage erhält Aufträge über insgesamt 10,91Mio Dollar.
Viisage Awarded Series of Contracts Totaling $10.91 Million, Extending Momentum with Identity Solutions and the Drivers' License Market
Thursday October 21, 7:30 am ET
Wisconsin DMV Selects Viisage for New Five-Year Contract; Several Wins Marked by Expanded Use of Face Recognition for Identity Theft and Fraud Protection
BILLERICA, Mass.--(BUSINESS WIRE)--Oct. 21, 2004-- Viisage (Nasdaq: VISG - News), a leading provider of advanced technology identity solutions, today announced a series of four state contract awards within the drivers' license market that serve to broaden the Company's leadership position in face recognition and identity documents solutions. Viisage provides secure identification documents in 15 U.S. states, eight of which have adopted Viisage's state-of-the-art face recognition capabilities to aid in identifying people and enhancing their identity theft and fraud protection programs.
ADVERTISEMENT
Leading the latest round of wins is the state of Wisconsin Division of Motor Vehicles, which has selected Viisage for a five-year, competitively bid contract valued at $7 million to provide secure digital drivers' licenses. The extended relationship includes optional provisions for a range of Viisage's identity solutions offerings over the life of the contract. The Maryland Department of Motor Vehicles, through Hewlett-Packard, has also chosen to extend its relationship with Viisage by awarding the Company a two-year contract, valued at $2 million, to continue the production of the state's secure driver's licenses and IDs.
Two additional states that wish to remain unnamed for security purposes, have awarded Viisage separate contracts totaling $1.91 million to augment their identity theft and fraud protection initiatives by implementing Viisage's face recognition technology. The technology is being integrated as part of statewide programs to help protect residents against identity crimes and threats by ensuring each driver's license is granted only to the rightful owner.
" The use of face recognition technology is gaining broader and deeper traction around the world and our state government customers continue to be at the front of the adoption curve," said Bernard Bailey, president and CEO of Viisage. " As more states seek to further enhance their existing processes while battling identity crimes and threats, we expect these relationships to continue their history of innovation and security."
The recent release of the Viisage Identity Solutions Suite(TM), combined with Viisage's existing face recognition and secure credential capabilities, provides customers such as the Wisconsin DMV and Maryland DMV with a broad array of options for helping to identify people, ensuring secure credentials are granted to the right individuals and generally improving security.
" We are excited to have these states join the growing list of U.S. states and federal agencies leveraging our identity solutions as part of their secure identification programs," Mr. Bailey added.
About Viisage
Viisage (NASDAQ: VISG - News) delivers advanced technology identity solutions for governments, law enforcement agencies and businesses concerned with enhancing security, reducing identity theft, and protecting personal privacy. Viisage creates solutions using secure credentials and face recognition technologies that quickly, reliably, and accurately identify individuals. 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.
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, as amended. 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, the size and timing of contract awards, performance on contracts, availability and cost of key components, unanticipated results from audits of the financial results of acquired companies, changing interpretations of generally accepted accounting principles, outcomes of government reviews, 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, the unpredictable nature of working with government agencies and other risks, uncertainties and factors including those described from time to time in Viisage's filings with the Securities and Exchange Commission, including without limitation, Viisage's Form 10-K for the year ended December 31, 2003 and its quarterly reports on Form 10-Q. Viisage undertakes no obligation to update any forward-looking statements.
vom 15.10.:
Viisage zeigt sich auf einer JP Morgan SmallCap Conference am 26.10.04
Press Release Source: Viisage Technology
Viisage Technology to Present at JP Morgan Small Cap Conference
Friday October 15, 7:30 am ET
BILLERICA, Mass.--(BUSINESS WIRE)--Oct. 15, 2004--Viisage (NASDAQ: VISG - News), a leading provider of advanced technology identity solutions, today announced that the Company will be presenting at the JP Morgan Small Cap Conference at the Four Seasons Hotel in Boston on Tuesday, Oct. 26, 2004, at 2:10 P.M. ET. Presenting for the Company will be Bill Aulet, senior vice president and chief financial officer.
A live Webcast of the Company's presentation at the conference will be available by accessing the following link on the day of the conference: http://equityconferences.jpmorgan.com. Attendees are encouraged to log-on to the Web site 10 to 15 minutes prior to the presentation to allow ample time for set up.
About Viisage
Viisage (NASDAQ: VISG - News) delivers advanced technology identity solutions for governments, law enforcement agencies and businesses concerned with enhancing security, reducing identity theft, and protecting personal privacy. Viisage creates solutions using secure credentials and face recognition technologies that quickly, reliably, and accurately identify individuals. 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.
vom 15.10.:
Am 25.10. kommen die Quartalszahlen.
Am Press Release Source: Viisage
Viisage Announces Timing for Third Quarter 2004 Results and Conference Call
Thursday October 14, 11:28 am ET
BILLERICA, Mass.--(BUSINESS WIRE)--Oct. 14, 2004--Viisage (NASDAQ: VISG - News), a leading provider of advanced technology identity solutions, expects to announce the Company's results for the third quarter of 2004 on Monday, October 25, 2004, after the market closes. The Company will host a conference call with the investment community to discuss its results for that period, and update its outlook for 2004, beginning at 8:30 a.m. ET on Tuesday, October 26, 2004.
The dial-in number for the call is 800-599-9816, confirmation code 54809725. Internationally, please dial 617-847-8705, with the same confirmation code. The call also will be available via live audio Webcast at the Company's Web site (www.viisage.com). To listen via this alternative, please go to the Company's Web site at least 10 minutes prior to the start of the call and follow the directions there. A replay of the Webcast will be available at Viisage's Web site beginning one hour after completion of the call.
About Viisage
Viisage (NASDAQ: VISG - News) delivers advanced technology identity solutions for governments, law enforcement agencies and businesses concerned with enhancing security, reducing identity theft, providing access control, and protecting personal privacy. Viisage creates solutions using secure document and face recognition technologies that quickly, reliably, and accurately identify individuals. 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.
vom12.10.:
VISG Awarded Contract Valued at $534,000
, 10.12.04, 10:16 AM ET
Midnight Trader
Boston, Oct 12, 2004 (MidnightTrader via COMTEX) -- Viisage (VISG) today said the Ohio Department of Rehabilitation and Correction (DRC) awarded the company a one-year contract to upgrade its digital image system. The contract, valued at $534,000, also calls for the creation of a pilot program to use Viisage's face recognition technology as a first step in enhancing the department's booking and criminal identification processes.
Gruß
Nagus
In dieser Woche kam Piper Jeffray mit einem neuen Kursziel von 7 US-Dollar und stufte die Aktie auf "outperform". Na da werd ich nicht so schnell verkaufen!
Gruß vom Berti
Aktueller RT-Kurs: 4,13€
VISG - Viisage Technology Inc (NASDAQ NM) | 7/22/2005 |
Sollte bald wieder die 7 erreichen
Nach den Zahlen gabs den Sprung
(©GodmodeTrader - http://www.godmode-trader.de/)
Bei dem Anbieter von Technologien zur Personenidentifikation, Viisage Technology Inc., fiel im zweiten Quartal ein Verlust von 505.000 Dollar bzw 1 Cent je Aktie an. Im Vergleichszeitraum des Vorjahres wies Viisage einen Verlust von 317.000 Dollar bzw 1 Cent je Aktie aus. Die Erlöse stiegen von 16,3 auf 20,1 Millionen Dollar.
Wie das Unternehmen am Dienstag nach Börsenschluss weiter mitteilte, erfolgt eine Bekräftigung der Erlösprognosen für das laufende Gesamtjahr von 73-80 Millionen Dollar. Für das dritte Quartal wird mit Erlösen von 16-20 Millionen Dollar gerechnet.
Bradley Miller wurde per 6. September zum neuen Finanzvorstand ernannt. Er tritt die Nachfolge für den ausscheidenden Bill Aulet an.
Viisage legten nachbörslich um 0,18% auf 5,70 Dollar zu
(©GodmodeTrader - http://www.godmode-trader.de/)
Viisage Technology Inc. und Motorola Inc. haben am Mittwoch ein Abkommen geschlossen, in dem beide Firmen ihre Technologien für Gesichtserkennung und Identifikationssysteme für Fingerabdrücke zusammenlegen wollen. Die beiden Technologien werden nach Angaben in der am Mittwoch veröffentlichten Pressemitteilung bei der Verbrecherfahndung eingesetzt. Über finanzielle Details vereinbarten die Parteien Stillschweigen.
(©GodmodeTrader - http://www.godmode-trader.de/)
Die Beteiligungsgesellschaft L-1 Investment Partners steigt mit 100 Millionen Dollar bei Viisage Technology ein. Sie erwirbt dafür 19 Millionen neue Aktien des Unternehmens zu einem Preis von 5,25 Dollar, während der gestrige Schlusskurs bei 3,64 Dollar lag. Zudem erhält L-1 4 Millionen Optionsrechte, mit denen Viisage-Titel zu einem Preis von 5,50 Dollar pro Aktie erworben werden können. Der Spezialist für Gesichtserkennungs-Systeme will den Großteil der neuen Mittel für Akquisitionen aufwenden.
L-1 ist eine Private-Equity-Gesellschaft, die jüngst von Robert LaPenta, dem Gründer von L-3 Communications ins Leben gerufen wurde. LaPenta wird jetzt auch Dennis Berube als Chairman bei Viisage ablösen.
Indessen musste Viisage heute eine Umsatzwarnung abgeben. Das Unternehmen rechnet damit, im abgelaufenen Quartal lediglich zwischen 13 und 14 Millionen Dollar erlöst zu haben. Zuvor hatte die Gesellschaft 16 bis 20 Millionen Dollar in Aussicht gestellt.
Die Titel des Sicherheitsspezialisten sprangen an der Nasdaq heute bisher um 29,67 Prozent nach oben auf 4,72 Dollar.