Fingerprints reports increased earnings
16 August 2019 13:50 GMT

Swedish biometrics firm Fingerprints has reported an operating profit of 2.3 million SEK (£198,000) versus a loss of 468 million in the same period last year.

It said positive net earnings and continued positive EBITDA trend, while net cash increased to SEK 486 M (440)

While ross margins widened from a year earlier, they shrank from the first quarter due to a lower share of software revenues and a less favourable customer mix.

Sales fell 2% year-on-year to 382 million SEK, or by 12% in constant currencies, despite higher delivery volumes.

Christian Fredrikson, President and CEO, said: "Fingerprints’ delivery volumes increased during the quarter and I estimate that our market position in capacitive sensors for smartphones has been strengthened, with a market share that is currently somewhat higher than the figure for the full-year 2018. This positive trend is reflected in the fact that we increased our sales by 11 percent (10 percent in constant currency) compared with the first quarter of 2019. However, since the average selling price (ASP) is lower than in the preceding year, sales declined by 2 percent (12 percent in constant currency) compared with the same period last year.

"July 2019, our partner NXP announced that the company’s module for biometric payment cards – incorporating Fingerprints’ T-Shape sensor – has been certified by Mastercard. This is a significant milestone and an important step on the way to enabling secure and convenient payments for consumers around the world. This certification by Mastercard is yet another indication that we are now approaching a broader commercial roll-out and we are delighted to collaborate with NXP and other partners along the value chain to create the next mass market for biometrics."

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