Fingerprint Cards reports increase in estimated revenues for 2015
Fingerprint Cards (FPC) announced that it has raised its revenue guidance for the second quarter of 2015 from its previously communicated revenue of at least 340 MSEK (USD $41.4 million) to a revenue of about 390 MSEK (USD $47.5 million).
The increased revenue guidance is the result of a recent request for certain orders of touch fingerprint sensors to be delivered immediately.
Additionally, as a result of the significant rise in market growth and orders received, FPC has raised its revenue guidance for 2015 from the previously communicated guidance that revenue for 2015 will amount to more than 1,500 MSEK (USD $183.1 million) to an updated guidance that revenue for 2015 will amount to about 2,200 MSEK (USD $268.2 million).
Over the last few months, FPC has seen a significant increase of order inflow and a continued increased interest from smartphone manufacturers in integrating its touch fingerprint sensors.
As a result, the revenues for the second half 2015 are expected to be considerably higher than previously estimated and amount to about 1,700 MSEK (USD $207.3 million).
The increase in the estimated revenues is based on the growing interest from the market in integrating touch fingerprint sensors and FPC’s strong product portfolio.
“It is becoming clear that 2015 is the year when touch fingerprint sensors are becoming broadly integrated in smartphones,” said Jörgen Lantto, CEO of FPC. “Google’s upcoming release of a complete platform support for fingerprint sensors in the Android M release is expected to play a major role in the strongly increased demand we are now experiencing.
“Our broad product portfolio and leading technology has in our view been a strong contributor for our touch fingerprint sensors being included in a large part of the smartphones with integrated touch fingerprint sensors that are being launched during the remainder of 2015.
“The fact that seven smartphone manufacturers have already launched smartphones with our touch fingerprint sensors means that we have established a clear position as the leading supplier of touch fingerprint sensors for this market. The sharp rise in demand for the company’s entire product portfolio will put a lot of pressure on the whole organization, but it is a challenge we are ready for.”
In a separate announcement, FPC reported it received an order for all of the company’s touch fingerprint sensors, valued at 375 million SEK (USD $45.78 million), from one of its module partners in Asia.
The company plans to deliver the sensors, which will be used by smartphone manufacturers in Asia, during the third quarter of 2015.