January 27, 2015 -
Precise Biometrics has reported its fourth quarter of 2014 earnings, in which its net operating loss dropped from 19 million Sek (US$2.29 million) to 9.6 million Swedish krona (US$1.16 million) compared to the previous year.
The company also saw a significant net sales increase in the fourth quarter of 2014 to a value of 9.9 million Sek (US$1.19 million), compared to the 2.9 million Sek (US$351,000) it earned the previous year.
Despite this, Precise Biometrics’ overall net sales for fiscal 2014 were SEK 31.4 million (US$3.80 million), a slight drop from the 34.9 million (US$4.22 million) it earned the previous year.
Meanwhile, the company had SEK 59.7 million (US$7 million) in available cash at the end of the fourth quarter.
As part of its financial report, Precise Biometrics reiterated its ambition to achieve profitability in 2015.
Previously reported, Precise BioMatch Mobile algorithm was integrated in the smartphone, Oppo N3.