Losses Widen At Mitek Systems

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SAN DIEGO – Mitek Systems, a maker of remote deposit software, reported a loss of $647,000 for its fiscal third quarter, up from a loss of $85,000 for the same period last year, as revenues continued to slide.

Third quarter revenues were down 10% to $822,000, compared to $915,000 for the third quarter last year.

Third quarter highlights included five new distribution agreements for Mitek’s flagship Mobile Deposit product with Wausau Financial, FIS, Skyline's DirectFed, Secure Payment Systems and Bluepoint Solutions; and mobile deposit agreements with two banks, The Bancorp Bank and Conestoga Bank.

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