Bioscrypt hires new CFO, lays off 10% of the rest
By Martha Entwistle
Updated Fri August 10, 2007
IMS biometrics market leader Bioscrypt couldn't use their market position to turn a profit in the second quarter, unfortunately. They brought in $4.8 million over the three months ending June 30, but that was $600,000 less than the same quarter last year, and it accounted for a $3.9 milion loss. Some of that can be attributed to the A4 Vision buy, which did bring some cool technology, but it's enough of a concern that Bioscrypt has axed 10 percent of its workforce and brought on new CFO Stephen McDonald. This can't be the the way new CEO Robert Douglas wanted to start his tenure.
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