Total revenue for the fourth quarter 2002 represented a 69 percent increase over the same period in the prior year and a 24 percent sequential increase over the third quarter. Software sales for the fourth quarter 2002 increased 24 percent over the same period in the prior year.
Earlier in the year, Deloitte & Touche recognized Identitech, for the third year in a row, as one of the fastest growing companies in Central Floridaâs High Tech Corridor.
Kerry Gilger, Chairman & CEO, stated, "I believe our outstanding performance during a somewhat turbulent business environment positively reflects on our focus of providing the best products and services, recruiting the best people, and keeping ahead of the competition with innovative new products."
During 2002, Identitech maintained its stronghold in utilities and financial services while further increasing penetration into government markets with the closing of several major deals. Some of the key government customers include the U.S. Department of Transportation, State of Arkansas, Los Angeles County, Miami Dade County, City of Clearwater, and Sarasota County.
In addition, during the year Identitech finalized two pivotal government contracts. Inclusion on the State of Florida Contract and the U.S. Government Services Administration (GSA) Group 70 Information Technology Multiple Award Schedule (MAS) streamlines the purchasing process for FYI products and services for eligible Federal, State, County, and Municipal government entities.
"Our commitment to the government market will continue, and these vehicles will serve as a means to showcase our new technology solutions and pre-packaged applications in the State of Florida and with the Federal Government", stated Kathy Jaques, Identitechâs VP of Marketing.
Along with maintaining a strong presence in government, financial services, and energy markets, Identitech has also made significant inroads into the higher education, media, manufacturing, and automotive markets with its FYI product suite.
Already an industry leader in business process management through workflow, records, and document management, in 2003 the company will position itself as the only comprehensive solution for managing and optimizing business processes through the blend of EDMS and patented visualization technology.