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mi sembra interessante.. stesso settore di INVN.. magari anche questa viene comprata da qualcuno tipo GE :D

Viisage Technology, Inc. is a provider of advanced technology solutions for identity verification. The Company focuses on identification solutions that improve personal convenience and security, deter fraud and reduce identification program costs. It combines its systems integration and software design capabilities with its proprietary software and hardware products and other industry standard products to create complete customized solutions. These turnkey solutions integrate image and data capture, create relational databases, incorporate multiple biometrics and improve customers' ability to move and manage information. Applications can include driver's licenses, voter registration, national identification cards, law enforcement, social services, access control and personal computer (PC) network and Internet access security

For the nine months ended 9/30/03, revenues rose 28% to $30.1 million. Net loss fell 35% to $4.2 million. Results reflect the effect of new contract awards and the acquisition, and a lower research and development expenses

ha acquisito questa società:
Viisage Acquires Trans Digital Technologies, Sole Source Provider of Technologies and Services for U.S. Passports
Tuesday February 17, 7:31 am ET
Positions Company for Leadership Role in Emerging Border Management Opportunities; Transaction Expected to Be Accretive to 2004 Cash Flow

LITTLETON, Mass.--(BUSINESS WIRE)--Feb. 17, 2004-- Viisage (NASDAQ: VISG - News), a leading provider of advanced technology identity solutions, today announced that it has joined forces with Trans Digital Technologies Corporation ("TDT"), a privately held Arlington, VA-based firm, which is the sole source provider of high security technology and services to the U.S. Department of State for the production of U.S. passports. The acquisition provides Viisage with a position of strategic leadership in border management applications, a strong presence in the U.S. Federal Government market, new technological capabilities in secure document offerings, and accelerated, highly profitable revenue growth starting in 2004. The transaction will result in TDT stockholders exchanging their interests in TDT for a combination of cash, notes and newly issued shares of Viisage common stock.

"The acquisition of TDT is transformational for Viisage, as it expands our presence in the identity solutions market and significantly extends our presence in the U.S. Federal Government market," said Bernard Bailey, president and CEO of Viisage. "Border management has become a critical area for identity solutions. Worldwide, many countries are upgrading the security in their visas, passports, and identity credentials. As a result, initiatives are emerging such as the 'chip on a passport,' which requires identity solutions that integrate highly secure identity credentials and biometrics. It was immediately evident that TDT, led by Buddy Beck, provides Viisage with tremendous strategic value and moves us closer to our vision that establishes Viisage as the leader in identity solutions."

"We are especially pleased this strategic acquisition was achieved on a basis that we expect will be accretive to our operational cash flow in 2004 and at a fair price to the Viisage shareholder," added Bill Aulet, CFO of Viisage. "Based upon TDT's backlog today, the company is very attractive to us from a financial standpoint. As we further researched and understood the complementary strategic fit of the two companies and quantified the potential financial results of a combined entity, we realized this was an even more attractive opportunity to potentially positively impact our results in 2004 and beyond. This transaction is expected to significantly accelerate our revenue growth, produce appreciably higher gross margins, make us cash flow positive in 2004 and improve our profitability."

In 2003, TDT was awarded a five-year contract valued at up to $65 million from the Department of State's Bureau of Consular Affairs, Passport Services Directorate, for high security production systems for U.S. passports. This win represented an extension of TDT's earlier contract issued in 1998. A critical component to TDT's success is the utilization of an exclusive, patented, advanced digital printing system to produce the passports. The system enables the production of highly secure photographic and personal data in a one-step process, and is the cornerstone in ensuring counterfeit-resistant U.S. passports.

B. G. "Buddy" Beck, president and CEO of Trans Digital Technologies, said, "TDT has achieved a great deal since it was founded, and we recognize that we can accomplish much more through the synergy created by our two organizations. Viisage addresses many of the same business problems related to border management, identity theft, and identity fraud. With an expanded portfolio of secure document and biometric technologies used to create identity solutions, we believe our combined company is well positioned to capitalize on the increasing opportunities in the federal government and international markets. We are very excited to be part of the Viisage team."

As part of the transaction, Viisage will exchange 5.85 million newly issued shares of Viisage common stock, plus notes and cash equaling approximately $20 million, for all outstanding shares of TDT stock. Mr. Beck will join Viisage's Board of Directors, expanding its membership to seven.

Privately held TDT was spun out of Thermo Electron Corporation in 2000 and has since established a market leading position in providing advanced technology solutions to the U.S. Federal Government for border management applications. In addition to the contract with the Department of State, TDT has contracts with the Department of Defense and the Department of Homeland Security for advanced technology identity solutions. TDT has more than 30 employees, located throughout the United States.


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ha incrociato le medie 50/200 e notate il notevole incremento di volumi
9.8 in pre open su nuovo contratto.

+ 15 in pre.. dopo il rialzo è tornata sulla mm50

Viisage Reports First Quarter 2004 Results
Monday May 3, 7:30 pm ET
Revenues Increase 50% Year-over-Year Reflecting Momentum and Acquisitions
Company Raises Revenue and Earnings Guidance

BILLERICA, Mass.--(BUSINESS WIRE)--May 3, 2004--Viisage (NASDAQ: VISG - News), a leading provider of advanced technology identity solutions, today announced results for the first quarter ended March 28, 2004.

Revenues for the first quarter of 2004 totaled $12.26 million, the third consecutive record quarterly attainment, up from $8.16 million in the comparable period last year, as reported in accordance with the change in accounting principle. The net loss for the first quarter of 2004 was $1.63 million, or $0.05 per basic and diluted share, compared to the reported net loss of $2.37 million, or $0.12 per basic and diluted share, for the first quarter of 2003, which excludes 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 the charge, the net loss for the first quarter of 2003 was $14.50 million or $0.72 per share on a basic and diluted basis.

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, retroactively to January 1, 2003.

"The first quarter of 2004 was filled with milestones that concretely demonstrate the transformation of our company into an identity solutions company, combining biometrics, secure credentials, and other technologies to solve a wide range of customer problems," said Bernard Bailey, president and chief executive officer. "We significantly expanded our leadership positioning in biometrics with the successful acquisition and integration of ZN Vision Technologies AG, which led to key strategic wins including the U.S. Department of State Diversity Visa Program."

"We also greatly improved our secure credentialing capabilities this quarter through the acquisition and integration of Trans Digital Technologies Corporation ("TDT") in February," Bailey added. "The Department of Defense's subsequent selection of Viisage to provide the technology for the Common Access Card, the U.S. government's largest smart card program, added significant traction in the U.S. Federal government market, one of our strategic target markets. At the same time, we kept driving top-line revenue growth and made progress in generation of EBITDA (earnings before interest, taxes, depreciation and amortization). While results fell short of analysts' estimates due to timing of a single shipment to the Department of State of $1.6 million, which was recognized during the first week of April, we are making excellent progress in executing on our vision and strategy. This operational achievement provides us with the confidence to increase our outlook for the year. Based upon what we have accomplished so far, and what we see in the sales pipeline, we are increasing our annual revenue guidance from $57 - $60 million to $60 - $63 million and our EBITDA guidance from over $10 million to $11 - $12 million."

Bailey concluded, "As we look to the balance of 2004, we believe Viisage is extremely well-positioned to compete successfully for emerging opportunities, both domestically and internationally. Our goal is to provide our customers with advanced technology identity solutions for applications such as enhanced drivers' licenses, border control and criminal booking and investigative systems."

Bill Aulet, Viisage's chief financial officer, added, "Viisage significantly improved its financial performance on a year-over-year basis. This was a result of a revenue increase of 50% as well as a robust gross margin improvement of 11 points or 63%. EBITDA shifted from a loss of $229,000 to a positive contribution of $1.06 million. Cash at the end of the quarter totaled $12.40 million. In addition to our increased forecasts for revenue and EBITDA, today we are also updating our guidance for net income, which we now expect to be no more than a net loss of $0.5 million, compared to our earlier forecast of a net loss of no more than $3 million."

Highlights for the first quarter of 2004 included the following achievements:

Completed the ZN acquisition and integration, positioning the Company as the worldwide leader in face recognition technology
Completed the TDT acquisition and integration, expanding the Company's core capabilities with high-security credentialing technologies including the U.S. passport and smart cards
Won a competitive bid on the Department of State contract for an identity solution to reduce fraud in the Diversity Visa Program
Secured a $734,000 face recognition contract extension to begin the third phase of the successful Pinellas County Sheriff's Office project including mobile deployment of the agency's solution
Received a contract extension from the Wisconsin Department of Transportation to continue producing digital drivers' licenses
During the quarter, the company also:

Won a contract for the passport program in a European country. The implementation includes Viisage's industry-leading face recognition technology to help in the country's civil identification and border management initiatives
Was selected for a pilot with a second European country for its visa pilot program. Again, the company's face recognition technology was chosen to help in strategic border management initiatives
Received an extension until February 2005 for the Ohio drivers' license contract, valued at $1.1 million. Under the terms of the extension, Viisage will provide a solution including printers, consumables, printer maintenance and helpdesk support
Received a two-year drivers' license contract extension from North Carolina valued at $4.7 million. The contract extension includes a Viisage solution consisting of printers, consumables, printer maintenance, helpdesk support, and management of the drivers' license application and image database
Following the end of the quarter, the company announced these business developments:

Selected for the Department of Defense's Common Access Card (CAC), the U.S. Government's largest smart card deployment, with estimated initial revenues of between $6 - $10 million
Received a contract extension to continue research and development efforts on 3D face recognition technology for the Department of Defense
Formed partnerships with Bosch Security Systems and Oracle Surveillance Systems, Inc. to expand into additional markets with our identity solution capabilities
Financial highlights for the first quarter of 2004 included:

Revenues of $12.26 million
Gross margin improvement to 27.4%
Sequential increase in backlog from $112 million to $176 million
Generated positive cash flow during the quarter
Generated EBITDA of $1.06 million reversing a year-earlier EBITDA loss
Total operating expenses for the first quarter of 2004 totaled $4.59 million, up from $3.45 million in the comparable quarter last year, reflecting expenses associated with the acquisitions of ZN and TDT, and legal costs from the ongoing litigation in Georgia. Sales and marketing costs expenses were $1.49 million, research and development totaled $959,000, and general and administrative expenses were $2.14 million. Total operating expenses in the same quarter last year included $1.41 million in sales and marketing costs, $945,000 in research and development and $1.09 million in general and administrative costs.

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 additive 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
March 28, March 30,
2004 2003

Loss before cumulative effect of change
in accounting principle $ (1,632) $ (2,365)

Depreciation and Amortization 2,279 1,854
Interest Expense, net 392 219
Taxes 25 63
------------- -------------

EBITDA $ 1,064 $ (229)
============= =============


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ha cambiato codice.
ora è VISGE
sul titolo ci sono strani movimenti
Graficamente è interessante


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l'ho messo nel Nostradamus

e chi se ne frega !!!!
:) :)
ha vinto un appalto in North dakota ma ne ha perso un'altro in Texas
figlia d'un sette,l'avevo persa di vista.....


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