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Proxy–Mitek Systems, Inc.

Mitek Systems, Inc. develops and sells software products with a focus on intelligent character recognition and forms processing technology, products and services for the document imaging markets.


Total number of shares outstanding as of Jan. 31, 2000 7,420,000

Price of each share of common stock on Jan. 31, 2000 $6.125

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Aggregate market value as of Jan. 31, 2000 $45,447,500.00

Performance Record

For year ended Sept. 30, in thousands, except per-share data

1999 1998 1997

Sales $9,741 $6,501 $4,842

Net income (loss) $2,026 $(1,497) $(2,566)

Net income (loss) per share $0.19 $(0.13) $(0.25)

Total assets $7,389 $6,136 $7,188


John M. Thornton, 67, has been director since March 1986 and chairman since October 1987. He also served as president, CEO and CFO since September 1998. He is also chairman of Thornton Winery Corp.

Gerald I. Farmer, 65, has been a director since May 1994, and was executive vice president from November 1992 to June 1997.

James B. DeBello, 41, has been a director since November 1994 and president, COO and director of CollegeClub.com since April 1999.

Daniel E. Steimle, 51, has been director since February 1987, and has been CFO of Transmeta Corp. since November 1998.

Sally B. Thornton, 65, has been director since April 1988. She is also a director of Thornton Winery Corp. and trustee of the Sjorgren’s Syndrome Foundation in New York and Stephens College in Missouri.

Executive Compensation

Officers Cash Compensation

John Thornton, chairman $285,000

David Pintsov, senior vice president $162,500

William Boersing, vice president of North American sales $225,000

Noel Flynn, vice president of operations $143,000

Dennis Brittain, chief technical officer $156,000

Significant Stock Ownership

Number of shares Percent

Jan. 4, 2000

John and Sally Thornton 2,749,959 26.15

Directors and officers as a group (9 persons) 3,807,488 33.36

Other Information

Headquarters: 10070 Carroll Canyon Road, San Diego CA 92131; (858) 635-5900;

(858) 635-5908; (www.miteksys.com)

Auditors: Deloitte & Touche LLP, San Diego

Information was compiled from the company’s annual and proxy reports.


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