Mitek Systems Inc. reported a fourth-quarter loss of $320,000 on sales of $2.68 million, contrasted with a profit of $325,000 on sales of $2.7 million in the same three-month period ended Sept. 30 last year.
For the full year ended Sept. 30, Mitek reported a loss of $928,000 on $7.8 million in revenue, contrasted with a profit of $14,000 on revenue of $5.05 million in the previous year. This year's losses were due in part to marketing and engineering costs related to four new products, the company said.
A manufacturer of computer printers, Mitek disclosed that its largest shareholder, the Thornton Family Trust, recently bought 42,894 shares at a cost of $150,000 to provide the company with net equity in excess of the $1 million minimum required for a NASDAQ listing. Trustee John Thornton is Mitek's chairman and chief executive.