Mitek Systems Inc., the developer of an application that lets consumers create check images with their mobile phones, said its net loss for its fiscal first quarter, which ended Dec. 31, shrank 4.1% from a year earlier, to $282,000.
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Net sales fell 7.7%, to $1.3 million, Mitek said Thursday.
Last month Mitek announced its ImageNetMobile Deposit software, which banks can use to offer remote deposit services to consumers.
"By investing in key product development such as ImageNetMobile Deposit and corresponding marketing activities, we are positioned for new market opportunities and are already talking with banks," James DeBello, Mitek's president and chief executive, said in press release.
