Precise Biometrics signs license deal with Silead, reports Q1 financial results

May 12, 2015 - 

Precise Biometrics announced it signed a license agreement with Chinese fingerprint sensor manufacturer Silead to include Precise Biometrics´ fingerprint software, Precise BioMatch Mobile into its products portfolio.

”The agreement with Silead further strengthens our position as a leading supplier of fingerprint algorithms that provide convenient and secure identity authentication for mobile and embedded devices,” said Håkan Persson, CEO of Precise Biometrics. “This is yet another important step to commercialize our fingerprint technology.”

The license agreement will generate royalty revenue based on sales of fingerprint sensors from Silead that includes Precise BioMatch Mobile. The royalty revenues, which cannot be forecasted yet, are dependent on volume of sensors sold.

The deal also includes a limited initial fixed fee for the right to integrate and use Precise BioMatch Mobile and for support and maintenance, which will be recognized starting from the second quarter of 2015.

In a separate announcement, Precise Biometrics reported its financial results for the first quarter of 2015, including net sales of SEK 4.5 million.

The company’s operating result for the first quarter was a loss of SEK 8.9 million, while its net result was a loss of SEK 8.8 million.

Meanwhile, Precise’s earnings per share for the quarter were a loss of SEK 0.03, and its available cash at the end of the quarter amounted to SEK 50.7 million.

Previously reported, Precise Biometrics received an additional order of 1,200 Tactivo smartcard readers from the Defense Logistics Agency (DLA) within the US Department of Defense.

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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.