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Fingerprint Cards reports ‘record quarter’ for Q3 2015

Fingerprint Cards reports ‘record quarter’ for Q3 2015

Fingerprint Cards (FPC) reported the financial results of its third quarter of 2015, which experienced a “record quarter” with revenues of SEK 964 million (US$111.61 million).

The company saw a 1,358% increase over the third quarter of 2014, resulting in a net operating profit of SEK 302.2 million (US$34.99 million).

FPC has a significant order backlog extending beyond the third quarter of 2015.

For the year to date, FPC has brought in SEK 1,549 million (US$179.34 million), marking a 1,105% increase over the first three quarters of 2014.

Meanwhile, the company’s net operating profit was SEK 278 million (US$32.19 million).

FPC CEO Jörgen Lantt said the company’s growth can mainly be attributed to its primary market of smartphone fingerprint sensors, which Lantt said “is expanding rapidly.”

FPC forecast fourth quarter revenue is expected to fall around 1.2-1.3 billion Swedish crowns ($139-151 million).

The company’s 2015 sales forecast is around SEK 2.75 billion-2,85 billion (US $318.39 million and US$329.97 million), which is a growth of 1,075-1,118% over 2014.

“I am confident about the future, which is expected to be characterized by successive growth in deliveries and a large number of further product launches in which FPC’s touch fingerprint sensors are included,” said Lantt.

FPC also announced that its nomination committee has been named in advance of its annual general meeting, and will comprise of Johan Carlström, Tommy Trollborg, and Chairman Dimitrij Titov.

Additionally, FPC said it will announced its revenue guidance for 2016 in December.

Previously reported, FPC reported that an exercise of warrants has resulted in its share capital increasing from SEK 253,600 (US$30,000) to SEK 12,647,827 (US$1.5 million) at the end of October.

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