2010-08-19
Interim report for the period January - June 2010
PRESS RELEASE
Gothenburg August 19, 2010
Fingerprint Cards increased its sales by 67% and gross margin by 51%. In terms of sales, the second quarter represented a break in the upward trend, resulting primarily from the postponement of an order, the progress of which remains uncertain. Previously initiated improvement projects – involving aggressive market programs and new recruitment – continued throughout the quarter, leading to the establishment of an Asian office in Shanghai and a new distribution agreement.
Fingerprint Cards AB (publ), corp. reg. no.: 556154-2381
Interim report for the period January – June 2010
Notable events during the reporting period:
• Net sales rose 67% to SEK 25.1 M (15.0) for the interim period, compared with the year-earlier period, and 28% to SEK 9.7M (7.6) for the second quarter.
• Gross profit totaled SEK 12.8 M (3.5) for the interim period and SEK 5.1 M (2.2) for the second quarter.
• The loss before tax amounted to SEK 2.7 M (loss: 8.8) for the interim period and SEK 2.8 M (loss: 4.4) for the second quarter.
• Gross margin for the interim period was 51% (23).
• Loss per share was SEK 0.07 (loss: 0.44) for the interim period and SEK 0.07 (loss: 0.22) for the second quarter.
• Cash and cash equivalents plus current investments amounted to SEK 43.1 M (11.1) at the end of the quarter.
• The order backlog on June 30, 2010 totaled SEK 17.4 M (15.9)
• Delay and uncertainty concerning a bank project in China results in reduced forecast for the second quarter and full-year 2010.
• The Asian office opened in Shanghai, with Steven Tynan appointed as Manager for Asia
• Implantaire Technologies Private Limited was appointed the distributor for India
• Maris Technologies Marketing Ltd. was appointed as the representative in Israel
• SEB is the new bank partner; operating credit of SEK 15 M was secured
• The assessment that sales are expected to rise 40-60% for 2010 compared with 2009 and that the gross margin for 2010 will surpass the 2009 level is repeated.
For further information, contact:
Johan Carlström, CEO Fingerprint Cards AB (publ), +46 31 60 78 20, investrel@fingerprints.com
Fingerprint Cards AB, Box 2412, SE-403 16 Gothenburg, Sweden, www.fingerprints.com
Fingerprint Cards AB (Fingerprint Cards) develops biometric technology, which, through analysis and matching of an individual’s unique fingerprint, verifies the person’s identity. The technology consists of biometric sensors, processors, algorithms and modules that can be used separately or combined. The competitive advantages offered by Fingerprint Cards’ technology include unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages and the ability to achieve extremely low manufacturing costs, the technology can be implemented in volume products, such as smart cards and mobile telephones, which impose extremely rigorous demands on these characteristics. Fingerprint Cards’ technology can also be used in IT and Internet products for security and access control. Fingerprint Cards AB (Fingerprint Cards) is listed on Nasdaq OMX Stockholm (FING B) and has its head office in Gothenburg, Sweden.
Publication pursuant to Swedish legislation: Fingerprint Cards AB (publ) discloses this information pursuant to the Securities Market Act (2007:528) and/or the Financial Instruments Trading Act (1991:980). The information was issued for publication on August 19, 2010 at 8:00 a.m.
CLICK HERE FOR FULL REPORT
