Mitek Systems Breaks Into The Black For Fourth Quarter

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SAN DIEGO – Mitek Systems, fresh off some major wins for its mobile technology, announced yesterday it broke into the black for its fiscal fourth quarter to the tune of a $180,000 net, compared to a $328,000 loss for the fourth quarter last year.

Revenues for the fourth quarter were doubled to $1.6 million.

For the full year Mitek trimmed its losses $682,000, from a $1.8 million loss for 2009, as revenues surged 42$ to $5.1 million.

Fourth quarter highlights include the awarding of a U.S. patent for the company’s mobile remote deposit capture technology and the introduction of the company’s mobile bill pay service.

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