Booked orders in 2005, which includes orders shipped and orders received but not yet shipped as of year end, were approximately $3.1 million. The booked orders for 2005 were approximately 115% higher than the 2004 sales bookings of $1.44 million. Sales bookings for 2004 represent shipments of products and contracted services and did not include any unshipped orders at year end, since all orders received were shipped. This result is a reflection of the expanded base of significant customers incorporating Intelli-Check’s ID-verification technology in their security and productivity solutions to commercial customers. Booked orders in the 4th quarter of 2005 increased approximately 83% to approximately $1.1 million compared to $0.6 million in sales bookings in the same period a year earlier. Revenue from these orders will be recorded and recognized under our revenue recognition policy as stated in our financial statements filed with the Securities & Exchange Commission.
In the past year, Intelli-Check has announced agreements with a significant retailer; solution providers, such as the Financial Services division of a Fortune 25 company; a multi-year marketing and services agreement with Verifone Holdings, Inc. (NYSE:PAY), the leader in secure electronic-payment technologies; a new, expanded partnering agreement for compliance with the credentialing requirements of HSPD 12/FIPS 201 with Anteon International Corporation (NYSE:ANT), a leader in supplying the federal government with integrated solutions, and Certegy Check Services, a subsidiary of
Certegy, Inc. (NYSE:CEY), a leader in providing check cashing services. The Company has also added other companies that supply services to the retail, commercial and government markets to its growing customer list.
Frank Mandelbaum, Chairman and CEO, stated, “We are very pleased with the growing acceptance of our ID verification technology by leading companies that are providing superior security solutions and productivity enhancement to their customers through its use. We are gratified with the quality of the companies that have chosen to partner with Intelli-Check and we believe that we are making progress in expanding our list of quality partners. Exceeding our stated goal of achieving booked orders of $3 million in 2005 is only a next step in the growth of Intelli-Check. Based on the business relationships already established and new opportunities before us in both commercial and government markets that incorporate Intelli-Check’s ID verification and productivity enhancing tools, we are anticipating another year of continued growth. Because of the growing recognition of the value-added benefits that Intelli-Check’s technology contributes to our licensees’ and partners’ products and solutions, we look forward to increased market penetration and success in 2006.â€
Intelli-Check, Inc. provides technology that assures the authenticity of driver licenses, state issued non-driver and military identification cards used as proof of identity. The company is online at www.intellicheck.com.
