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SAN DIEGO EARNINGS

January 29, 1988

Blaming increased engineering and research costs related to new products, Mitek Systems posted a net loss on sharply lower sales for its first quarter ended Dec. 31. Mitek's loss for the quarter totaled $612,000 on sales of $1.5 million, contrasted with a profit of $346,000 on sales of $2.9 million over the same 3-month period last year.

Mitek manufactures a line of computer printers used by the government and government contractors for transmission of confidential data.

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