Gemalto publishes first quarter results, anticipates double-digit expansion for 2014

April 24, 2014 - 

Gemalto has announced its first quarter 2014 financial results and has shown a 7.3% increase in revenue at constant exchange rates.

“The first quarter of 2014 delivered further revenue growth with different geographical performances: in Asia and North America the activity expansion was rapid, and it grew at a slower pace in Europe and Latin America,” Olivier Piou, CEO of Gemalto said. “Promising market developments and contract wins confirm the conditions for the seasonal acceleration along the year: demand for EMV solutions is rapidly increasing in the US, mobile contactless services are ramping up thanks to simpler, customer-focused go-to-market initiatives, and demand is high in the government market globally. We confirm our outlook for the year and the longer term objectives of our multi-year development plan.”

According to the company’s released financial document, revenue for its mobile operations totalled US$374 million (€271 million), and its payment and Identity operations totalled US$349 million (€253 million). As a percentage of its total revenue, mobile accounted for 51% and payment/Identity accounted for 48%.

In particular, revenue for ongoing operations was up by 7.3% year-on-year to US$735 million (€532 million), showing growth in all regions. Revenue from platforms and services grew by 8% to US$136 million (€99 million), or 19% of the total company revenue. Gemalto says this was supported by progress in mobile payment, internet banking security and eGovernment services.

As for an outlook moving forward, Gemalto anticipates double-digit expansion in both profit from operations and revenue at constant exchange rates.

Reported previously in BiometricUpdate.com, last month, Gemalto launch the Coesys Border and Visa Management solution, a two-stage traveler verification system that the company says is capable of performing fingerprint and facial image checks, in addition to verifying the authenticity and validity of a carried passport.

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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