Fingerprint Cards issues Q3 results as details emerge around fake Samsung announcement

October 18, 2013 - 

Fingerprint Cards has issued its third quarter results and says it’s in a “pole position in a multi-billion market, which is just opening.”

For the quarter, sales totalled USD $4.93 million (SEK 31.6M) and its gross profit amounted to USD $2.42 million (SEK 15.5M), with a gross margin of 49%.

Last week, Fingerprint Cards was the subject of a particularly peculiar story. Early in the morning, a press release was published which alleged that FPC had been acquired by Korean technology giant Samsung. In the 17 minutes trading was active for the company, Fingerprint Cards’ stock shot up 51 percent. As soon as it was discovered that the press release was fake, trading was halted and transactions from the day were cancelled.  

At this point, it’s still mostly unclear what the true origin of the release was as well as how or why it was created, but some details are starting to emerge.

Both Samsung and Fingerprint Cards have denied the acquisition, though there have been some reports to suggest that the bogus release originated from a hack of a news wire service, which was possibly related to an earlier Adobe hack. This story is still developing.

Fingerprint recently issued a preliminary forecast for 2014, amid growing interest in the company following Apple’s iPhone 5S launch as well as imminent meetings with investors and analysts. FPC says it expects sales in the third quarter of 2013 will be in the range of US $4.2 to $5.14 million (SEK 27-33M). In addition, the company says it expects sales to exceed US $77.9 million (SEK 500M) in 2014.

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About Adam Vrankulj

Adam Vrankulj is an editor for BiometricUpdate.com. His background consists of online news writing, editing and content marketing. Adam has written for CBCNews.ca, BlogTO and was the editor and curator for the nextMEDIA and CIX Source publications. He has a degree in journalism and is passionate about science, technology and social innovation. Contact Adam, or follow him at @adamvrankulj