Richardson-Based Fraud Prevention Technology Company Reports Loss
RICHARDSON – Start-up Intrusion Inc., the maker of the Compliance Commander fraud protection system, said net losses for its fourth quarter widened slightly to $900,000, form $800,000, for the fourth quarter in 2004, but fiscal year losses narrowed to $3.3 million, compared to 44.6 million the year before. The company reported fourth quarter revenue of $1.1 million, down from $2 million in the fourth quarter in 2004, and fiscal year revenue of $6 million, the same as the year before. Intrusion CEO G. Ward Paxton said the company is disappointed by the fourth quarter results but optimistic in that it has 83 orders worth $2.5 million in revenue pending form credit unions and banks for Compliance Commander. The majority of Intrusion's revenue in the fourth quarter came from the company's other two product lines: TraceCop Entity Identification Systems and SecureNet Intrusion Prevention/Detection Systems. The majority of revenue from these two products resulted from sales to the U.S. Government.