Suprema sees record revenue and market capital increase for 2014

March 24, 2015 - 

South Korean biometrics company Suprema announced the financial results for its 2014 fiscal year, in which the company experienced a record high yearly revenue of $65.5 million and an increase in market capital to $357 million.

The results were driven by all-time record revenue from biometric access control and time & attendance devices, along with strong performance in ID device sales, said Suprema.

The company’s revenue saw a 26.2% spike from $49.2 million in 2013, and achieved a market capital growth in the double-digits.

Additionally, the revenue growth has surpassed Suprema’s 5 year average CAGR of 17.8%.

Among the four global region groups, Suprema saw the largest share of revenue for the Europe region with 41%, followed by the Americas with 21%.

Meanwhile, Asia & Pacific and Middle East & Africa had revenue distribution of 20% and 18% respectively.

“I believe the healthy growth of Suprema’s revenue is a testament to the superior quality of our products and services,” said James Lee, Suprema’s CEO. “Strong growth in an established market such as Europe is proof of our competitiveness. The new products scheduled for release in 2015, along with our recently released BioStar 2, web-based open security platform, will set the foundation for Suprema’s market expansion in 2015.”

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.