SAN DIEGO – Mitek Systems, the provider of image analytics and mobile document capture systems, said revenues fell for its fiscal third quarter, helping create a loss of $240,000, compared to a $40,000 profit for the same period last year.
Third quarter revenues were $900,000, down from $1.7 million for the third quarter last year. Total operating expenses in the third quarter decreased by approximately $471,000, or 37%, from the third quarter of fiscal 2008.
During the third quarter, Mitek signed an OEM agreement with Fiserv for Mitek's Mobile Deposit application that enables customers to deposit their personal or business checks using a cell phone camera.
The company also announced the availability of its Mobile Receipt application for the iPhone on the App Store. Mobile Receipt converts the photo of a receipt taken with the iPhone camera into a high quality image and, with a single tap, converts the data into a professional looking expense report.
