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Technology Stocks : Mitek Systems (MITK)

MITK 9.230

-0.1%

Oct 31 9:30 AM EDT

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From: JakeStraw	2/8/2012 7:40:04 AM
	of 169

Mitek Systems Reports First Quarter Fiscal Year 2012 Results finance.yahoo.com Highlights First quarter 2012 revenue increased 151% over the first quarter of 2011 First quarter 2012 gross margin was 91% Signed 250 financial institutions cumulative through December 31, 2011 56 customers launched Mitek Mobile Deposit(R) cumulative through December 31, 2011 Announced Mobile Deposit 3.0 during the first quarter of 2012 "We're pleased with our solid financial performance during the first quarter of fiscal 2012 as our tier-one customer base continues to grow and currently includes eight of the top ten banks," said President and CEO James B. DeBello. "We're also excited that commercial Mobile Deposit launches are well underway and 56 customers have now launched Mobile Deposit. Importantly, we're beginning to see Fortune 500 companies like Progressive announce their Image Capture technology, which is powered by Mitek. We believe this market momentum, along with the new products we expect to launch this year, will position Mitek for long-term success."

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