May 26, 2014 -
Biometrics and identity solutions company Suprema announced the financial results of its first quarter in 2014, with revenues of $18.3 million.
The company’s quarterly results further demonstrates the significant growth of biometrics this year, and is a personal best for Suprema who continues to grow at a rapid pace.
Suprema’s $18.3 million in revenues is an increase of 69.1 percent on the same period last year. Meanwhile, the company’s net profit also increased with a 40.3 percent increase in comparison to Q1 2013 and a 169.4 percent increase compared to Q4 2013.
Last year, Suprema was named as among the top ten revenue growth companies in physical security markets by A&S International Magazine.
“We consider these results as owing to our success in aligning business strategies this year, such as pioneering new markets, including Russia, Brazil and some parts of Europe, and focusing on key business opportunities around the globe,” says Suprema CEO James Lee. “From this point of view, it is even more meaningful to report such positive results early in the year.”
Suprema Inc. is a leading global provider of biometrics technology and identity management solutions in biometrics and security. The company’s range of products includes fingerprint modules, biometric access control systems, e-passport readers and live-scanners. Suprema’s solutions are featured by integration of the excellent embedded system design capability and the strong backgrounds in theories and algorithms backed by a number of experts having the rich experience and extensive knowledge in the field of biometric solutions, embedded system design and signal processing.
According to its website, Suprema has worldwide sales network presence in around more than 120 countries all over the world. It is also the first biometrics company listed on Korea’s stock market and has been designated as ‘Hidden Champion’ in the market.