Precise Biometrics reports operating loss in Q1
16 May 2017 17:07 GMT

Swedish fingerprint solutions firm Precise Biometrics has reported a loss of SEK 2.7 million ($300,000) for the first quarter of this year in contrast with a profit of SEK 6.3 million in the same period in 2016.

Net sales for the period totaled SEK 19.2 million, a drop from 24.2 million in 2016, but cash flow from operating activities for the period improved to SEK 17.1 (7.5) million.

CEO Hakan Persson said: "I am not satisfied with the company’s negative operating result. It is a consequence of the ongoing revenue transition that we are carrying out at the same time as we are investing in our business for growth and a future positive revenue development”.

However, highlights of the quarter included the  acquisition of NexID Biometrics , with the report noting that this was “an important step in order to be able to offer increased security of the company’s fingerprint software through liveness detection”.

Licensing agreements were signed with NXP, a leading hardware vendor in the embedded market, and Zeitec, a Taiwanese sensor manufacturer. Another licensing agreement was signed after the end of the quarter with the Korean sensor manufacturer Melfas.