Massachusetts-based biometrics software and services provider Aware has reported that revenues grew 23% in 2014, despite a dip in the fourth quarter.The 22-year-old firm saw revenues grow 23% to $23.7 million for the year ended December 31, 2014, compared to $19.4 million in the same period a year ago.Net income for the year was $4.6 million, or $0.20 per diluted share. These results compared to net income of $2.6 million, or $0.11 per diluted share in 2013.The positive results came despite a 24% fall year-on-year in fourth quarter results, which reached just $4.3 million compared to $5.6 million.Rick Moberg, Aware's co-chief executive officer and chief financial officer, said, “While financial results for the fourth quarter did not meet our expectations, results for the full year did. Our biometrics business achieved its best year of financial and operational results since its inception more than 20 years ago. “We go into 2015 with the most complete product portfolio we've ever enjoyed, a strengthened engineering organization, an experienced sales staff, and a solid balance sheet. We believe we have the products and people to continue our success in this industry.”Notable achievements for the firm in 2014 included the launch of the INQUIRE textual identity software development kit product in September. The software uses biometric search and match operations in combination with text-based filter, search, match, and link algorithms to provide identity data.INQUIRE software, an acronym for “INformation QUality and Identity Resolution Engine,” includes data integration, data quality analysis, identity resolution and fuzzy text search, as well as address matching, link analysis, and biometric pre- and post-search filtering.”Aware's introduction of INQUIRE reflects the usefulness of text-based identity data in biometric systems,” commented David Benini, VP of Marketing at Aware.In December, the firm also announced that the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia has begun deployment of several of Aware's COTS biometrics software products as part of an update to their visa issuance management process.
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