Fingerprint authentication firm BIO-key has reported that revenues grew 31% to $5.3 million in 2015, citing growth in both software and hardware sales.Reflecting these higher revenues, BIO-key's net loss for the fourth quarter also decreased to ($423,490), or ($0.01) per basic share, compared to a net loss of ($546,648), or ($0.01) per basic share, in the same period last year.BIO-key estimates that full year 2016 revenues will grow to a targeted range of $7M – $9.5M, implying a growth rate ranging from 35% to 83% versus 2015.The firm bases its projections, among other developments, on sales growth in Asian markets benefiting from BIO-key's recently established Hong Kong subsidiary, the China GoldJoy partnership and the development of mobile payment and other technologies utilizing biometrics which BIO-key plans to introduce during 2016.Indeed, strategic investment and partnership with a group led by China GoldJoy Group (1282.HK) yielded $7.5M in net proceeds along with rights to a portfolio of patented technology licenses focused on online and mobile payment systems.