FPC year-end report details strong revenues in 2015

February 5, 2016 - 

Fingerprint Cards (FPC) has issued its year-end report for 2015 in which the company detailed revenues of SEK 2.9 billion (US$345 million) for the year, representing a 1,142 percent increase over the previous year.

Meanwhile, FPC saw an operating profit of SEK 910.3 million (US$108 million), reflecting a loss of SEK 145.2 million ($US17 million) compared to the previous year.

The year-end report comes a couple months after FPC announced that its revenue guidance for 2016 is approximately SEK 6.5-8.5 billion (US$768 million-$1 billion). FPC has since raised the guidance to SEK 7.0-8.5 billion (US$829 million-1.01 billion) as a result of being able to better forecast smartphone launches.

In terms of its fourth quarter results, FPC saw revenues of SEK 1.35 billion (US$160 million), representing a 40 percent increase over the third quarter.

The company’s operating profit for the fourth quarter was SEK 517.6 million (US$62 million), representing a loss of SEK 30 (US$3.6 million).

FPC also revealed several proposals made by the board, including that no dividend be paid for fiscal year 2015, a stock split of 5:1, and a mandate to buy back and transfer FING B shares

In a statement, FPC CEO Jörgen Lantto said the year-end results “confirms that FPC has established a leading position in a rapidly expanding market.”

He highlighted that 18 smartphone models featuring FPC sensors were launched by smartphone manufacturers Huawei, Xiaomi, Lenovo, LG and ZTE.

Lantto also pointed out that the growing demand arising from mPayment applications is expected to be a key market driver.

FPC has been working on adapting its fingerprint sensors for applications in segments outside of the smartphone market, with the first commercial product launches expected to take place this year, said Lantto.

He also mentioned that the company is interested in integrating fingerprint technology in automotive applications.

“In 2015, we established FPC as the globally leading manufacturer of complete and integrated systems for fingerprint sensors,” Lantto said. “Our objective in 2016 is to consolidate our position as the market’s leading supplier by growing further together with our existing customers, and by breaking new ground in smartphones and other market segments.

“I am very enthusiastic about FPC’s future. Our aim is to continue to gain market share and prepare for a market which, according to our estimates, will amount to more than one billion units per year as of 2017. By capitalizing on our economies of scale in technology and business and using our financial strength to increase our investments, we plan to remain the leading supplier of fingerprint sensors in the coming years and thus continue our profitable growth.”

Last month, Fingerprint Cards announced that it has been nominated for a Telekompriset 2015 industry award.

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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.