Gemalto publishes first quarter results, anticipates double-digit expansion for 2014
Gemalto has announced its first quarter 2014 financial results and has shown a 7.3% increase in revenue at constant exchange rates.
“The first quarter of 2014 delivered further revenue growth with different geographical performances: in Asia and North America the activity expansion was rapid, and it grew at a slower pace in Europe and Latin America,” Olivier Piou, CEO of Gemalto said. “Promising market developments and contract wins confirm the conditions for the seasonal acceleration along the year: demand for EMV solutions is rapidly increasing in the US, mobile contactless services are ramping up thanks to simpler, customer-focused go-to-market initiatives, and demand is high in the government market globally. We confirm our outlook for the year and the longer term objectives of our multi-year development plan.”
According to the company’s released financial document, revenue for its mobile operations totalled US$374 million (€271 million), and its payment and Identity operations totalled US$349 million (€253 million). As a percentage of its total revenue, mobile accounted for 51% and payment/Identity accounted for 48%.
In particular, revenue for ongoing operations was up by 7.3% year-on-year to US$735 million (€532 million), showing growth in all regions. Revenue from platforms and services grew by 8% to US$136 million (€99 million), or 19% of the total company revenue. Gemalto says this was supported by progress in mobile payment, internet banking security and eGovernment services.
As for an outlook moving forward, Gemalto anticipates double-digit expansion in both profit from operations and revenue at constant exchange rates.
Reported previously in BiometricUpdate.com, last month, Gemalto launch the Coesys Border and Visa Management solution, a two-stage traveler verification system that the company says is capable of performing fingerprint and facial image checks, in addition to verifying the authenticity and validity of a carried passport.