A 70 per cent revenue increase for 2005 is reported by InkSure Technologies, provider of covert machine readable security products for the prevention of counterfeiting. The new figure is $1,626,000, compared with revenues of $955,000 in 2004.
“We were very pleased with our record sales to North American customers,” noted ceo Elie Housman. “Sales of consumables, primarily SmartInk, to North American customers increased substantially throughout 2005, and we are particularly pleased with the number of contract negotiations that were underway with potential customers in a variety of industries by year end. We anticipate that sales to our largest North American customers will increase appreciably during 2006, while we also expect to commence multi year authentication projects with new customers.”
“Our increased net loss for 2005 reflects higher research and development spending related to our ‘chipless’ RFID technology, which addresses a multi billion dollar annual market opportunity that is projected to grow rapidly in coming years. “
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