“We will have a full year of profitability, finally,” Gardner told investors in a year-end email.
Five years after launching CyberExtruder, Gardner reported that his facial imaging technology, which can help security staff identify bad guys from grainy or imperfect photographs, is a hit with the Austrailian government and several U.S. security agencies. They have teamed up with computer game manufacturers so gamers can upload photos to create unique characters and are marketing to life sciences companies to assist with facial reconstruction for burn or accident victims.
Gardner proudly projected CyberExtruder’s revenues to top $1.4 million in 2004 -- and he credits such success to the assistance and support he gained as a tenant of the Enterprise Development Center business incubator on the New Jersey Institute of Technology campus in Newark.
“Between us, we have advanced degrees in business, computer technology and internet applications. But we still needed marketing guidance and product research,” Gardner recalled.
“As a tenant of the NJIT incubator, we could tap into all kinds of resources – from teams of seniors and MBA students willing to put their training into real-word practice to consultants and faculty who will listen and share their advice for free.
“I know CyberExtruder wouldn’t be where we are today without our close working relationship with NJIT and the support and resources of our business incubator.”
The Enterprise Development Center is one of several business incubators supported by the New Jersey Commission on Science and Technology. Incubators provide start-up and small firms with a variety of services as well as an environment that provides the business and technical support they require for success.
Today, CyberExtruder is developing the next-generation software thanks in part to a $250,000 grant from the Springboard Fund. This year, Gardner and his partners are anticipating even greater success as CyberExtruder taps into the video game industry, the wireless world and online advertising.
“We believe our current course will give our shareholders the greatest opportunity for return on investment.” Gardner pledged. “You can’t know how happy it makes us feel to be able to talk about return on investment.”