Fingerprint biometric identification software and technology provider BIO-key has reported a third quarter loss while revenues were also slightly below guidance.Net loss expanded to $1,1mln, or $0.02 loss per basic share, in the thid quarter, from a net loss of $0.5mln, or breakeven per basic share, a year earlier,Meanwhile, revenue fell to $0.7mln from $1.3mln year-on-year.In a statement, the firm noted that this was nearly in-line with the lower end of the revenue guidance range.However, the company also in the period raised $7.5M in net new capital via private placement of convertible preferred securities convertible into common stock at $0.30 per share.It secured commercial license to a portfolio of mobile and online payment software technologies from strategic partner and investor China Goldjoy Group Limited (CGG) (Hong Kong: 1282), and shipped mobile biometric security solution for a new global payment customer.Other developments saw it launch an Asian sales, business development, and sourcing presence, opening offices in Hong Kong and the Peoples Republic of China and , perhaps crucially, partnered with Microsoft for its “Ignite your business with Windows 10 and Office 2016” series of events in 12 cities.Michael DePasquale, Chairman and CEO of BIO-key commented, “While the bulk of our recent efforts have been focused on negotiating and completing transformational technology licensing and funding transactions that have closed in recent weeks, BIO-key achieved Q3 revenue performance that was just shy of the low end of our Q3 revenue guidance. Importantly, we believe we have fundamentally reshaped BIO-key and its future growth potential through a significant cash infusion combined with a technology license agreement with an existing partner and provider of biometric and mobile payment technologies.”These strategic agreements are already delivering tangible benefits to our company in terms of both sales opportunities and completed sales. During Q4, we have booked orders and completed an initial product shipment to a global payment company for a new mobile security application. At the same time, BIO-key is now able to pursue sales and marketing initiatives, such as our multi-city marketing partnership with Microsoft and the opening of BIO-key sales and sourcing offices in Hong Kong and in the PRC, which substantially expand the scope of our business reach.”While we continue to expect variability in our quarterly operating results due to the size and shipment timing of orders in our pipeline, we are now even more bullish on BIO-key's near- and long- term prospects, and remain comfortable in achieving full year 2015 results within our guidance range.”

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