Fingerprint firm IDEX names executives, announces reorganization and financial results

February 25, 2015 - 

Fingerprint recognition solutions firm IDEX ASA made several announcements this week, including the appointments of two senior executives and completing a global reorganization of the company to strengthen its customer focus and ensure commercial execution of the product roadmap.

IDEX named Art Stewart senior vice president of product management for the IDEX group. He has extensive biometric experience in fingerprint sensors, including more than 10 years with AuthenTec and two years at Synaptics.

Additionally, IDEX appointed Lunji Qiu to general management and vice president of IDEX China. Dr. Qiu has nearly a decade of experience from the biometric fingerprint industry, most recently serving as GM and VP of Next Biometrics China.

“I am very pleased to welcome Mr Stewart and Dr. Qiu to IDEX. They have very relevant domain experience and proven achievements in the fingerprint sensor industry. They join IDEX at the start of pivotal year for the company,” said Dr. Hemant Mardia, CEO of IDEX. “I am confident they will both contribute greatly towards the commercialisation of IDEX in 2015 and beyond. We are proud of our ability to attract industry experts of this calibre, influence and reputation, and these commitments validate the significant potential for IDEX to become a leading vendor in this rapid growth market,” he added.

IDEX said it is expanding to a global organization in an effort to commercialize its fingerprint technology, and has made the appropriate changes at its operation in Oslo, Norway.

Dr. Ralph W. Bernstein will leave his CTO position at the end of the first quarter as the company’s technology and development continues to shift to US sites where the company can secure specialist skills rapidly. Dr. Bernstein will continue to support IDEX as a consultant.

Additionally, IDEX reported the financial results for its fourth quarter of 2014, which saw a total revenue 1.2 million Norwegian crowns (USD $157,551) versus 0.4 million crowns (USD $52,517) for the fourth quarter of 2013.

The fourth quarter of 2014 saw a loss of 41.3 million crowns (USD $5.32 million) versus a loss of 23.1 million crowns (USD $3.03 million) a year ago. Meanwhile, the fourth quarter of 2014 pre-tax saw a loss of 40.6 million crowns (USD $5.33 million) versus a loss of 23.8 million crowns (USD $3.12 million) a year ago.

The company said it expects to sample off-chip sensors in first half of 2015, with deployment in mass production in second half of the year.

Finally IDEX CEO Dr. Hemant Mardia will present at the 27th Annual ROTH Conference to be held at The Ritz-Carlton Hotel in Dana Point, California.

The investment banking conference attracts nearly 500 participating companies and over 3,000 attendees, including institutional investors, private equity investors, VCs, company executives and service providers.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.