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Intellicheck Mobilisa reports losses narrow in '09

Intellicheck Mobilisa, Woodbury and Port Townsend, Wash.

Identity-check scanners

Year: Ended Dec. 31

Net income: Loss of $573,000, compared with loss of $32.9 million in 2008. The 2008 loss was affected by a $32 million impairment charge linked to Mobilisa Inc.'s acquisition of Intelli-Check, which was finalized in March 2008. Without the impairment the 2008 loss would have been $828,000.

Net revenue: $12.4 million compared with 10 million in 2008.

Company statement: "We had our best year ever," chief executive Nelson Ludlow said in a news release.

"In early 2009, I stated that our goal was to increase our revenues by making an investment by adding new products to our product line and new personnel to the sales force. As a result of our plan, we have shown a healthy increase in revenues and for the second year in a row, we have recorded positive cash flow from operations."

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