Woodbury Firm Cracks Washington Growth List

Wireless security and ID specialist Intellicheck Mobilisa is feeling much better, thank you.

The tech firm - offspring of the 2007 merger of Woodbury-based Intellicheck with Port Townsend, Wash.-based Mobilisa - is the second-fastest-growing public company in Washington state, according to the Puget Sound Business Journal. It’s the fifth consecutive year on the Journal’s fastest-growing list for Intellicheck Mobilisa, which manages East Coast software development and customer support, as well as corporate accounting and finance, from its 20-employee Woodbury facility.

The Journal article cites a 255-percent increase in 2009 revenue and notes Intellicheck Mobilisa missed being Washington’s fastest-growing public company “by less than 1 percentage point.” The Journal ranks the company as Washington’s 68th largest overall, based on its reported 2009 revenue of $12.4 million.

The big year was a welcome turnaround for Intellicheck Mobilisa. Despite its “fastest-growing” streak, the company - which actually reported a 2-cents-per-share loss (or $573,571) in fourth quarter 2009 - suffered a $32.9 million (or $1.47 per share) loss in fiscal 2008, according to marketwatch.com, following a $2.7 million loss (22 cents per share) in fiscal 2007.

Intellicheck Mobilisa shares were set to open Wednesday morning at $1.51.

“We are proud of the work we have done in the last year,” CEO Nelson Ludlow said in a statement. “With possible Homeland Security funding in the offing, we believe that our best days lie ahead of us.”

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Source: Long Island Business News

Related Article: Intellicheck Mobilisa on Fastest Growing Company List for 5th Consecutive Year, Ranks 2nd with 255% Change in Revenue