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Fingerprint Cards reports 2016 year-end, Q4 results

 

Fingerprint Cards (FPC) reported its year-end financial results for 2016 as well as for the fourth quarter, which saw year-end revenues of SEK 6,638 million — a 129 percent increase compared over the company’s year-end revenues 2015.

The report comes a couple days after Fingerprint Cards (FPC) announced it acquired iris recognition firm Delta ID for US$106 million (approximately 938 MSEK).

FPC’s revenues for Q4 2016 totaled SEK 1,618.7 million, which represents a 20 percent increase over Q4 2015.

The company saw an operating profit of SEK 548 million for Q4 2016, which represents a slight increase compared to the SEK 518 million it reported in Q4 2015.

FPC estimates that its revenues for 2017 will total SEK 7,500-9,500 million, while its operating margin for 2017 is expected to exceed 35 percent.

The company’s board of directors proposed a dividend of SEK 2.00 per share for the 2016 fiscal year as well as to authorize the buy back and transfer of FPC’s own Class B shares. In addition, the board proposed the cancellation of the treasury shares.

“When I now look to the future, I can state that we are world leading in fingerprint sensors for mobile units, such as smartphones and tablets, with a market share for 2016 that we currently estimate at between 55 and 60 percent,” Christian Fredrikson, president and CEO said. “This market segment represents a continued growth opportunity and, in addition, approximately 10 billion other products are produced each year – such as smartcards and door locks – which could all be made more secure and easier to use if fitted with a biometric solution.

“There is large potential for us in these new market segments and I am convinced that we are currently only at the very infancy of the biometric era, in which we are now and intend to continue to be the driving force and the leading biometric company.”

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