Precise Biometrics sees increased sales in Q2 2017 totaling $2.5M
Precise Biometrics has issued its financial results for Q2 2017 in which the company’s net sales for the remaining operation totaled SEK 20.2 million (US$2.5 million) compared to SEK 18.9 (US$2.3 million) a year ago.
The company’s operating profit for the remaining operation totaled SEK 0.5 (US$60,000) compared to SEK 5.3 million (US$0.7 million).
Meanwhile, the company’s net sales for the remaining operation during the interim period totaled SEK 36.8 (US$4.5 million) compared to SEK 39.6 million (US$4.9 million).
The operating profit/loss for the remaining operation during the interim period totaled SEK -2.2 (-US$0.3 million) compared to SEK 12.4 million (-US$1.5 million).
The company is reinforcing its resources to meet the market’s demand for increasingly advanced solutions in the field of fingerprint technology.
Precise Biometrics highlighted several significant events that occurred in Q2 2017, starting with the conclusion of its agreement with IDENTOS regarding the takeover of its mobile smartcard solutions business area as of January 1, 2018.
The company launched a new security suite with software for fingerprint recognition with spoof and liveness detection, as well as standalone anti-spoof products and services.
In addition, seven mobile phones and two smart cards were launched with Precise’s fingerprint software.
“It is gratifying that we have increased sales during the quarter, both sequentially and compared with the corresponding period in the previous year,” said Håkan Persson, CEO of Precise Biometrics. “The partnership with Silead has resulted in substantial royalty revenues as Precise BioMatch Mobile has been launched in a number of phone models from one of the world’s biggest manufacturers.
“We now have royalty revenues from nine customers and continue to broaden the customer base in terms of both different technologies and geographical regions, in order to create good opportunities for growth and to reduce dependence on individual customer partnerships. We are also continuing to invest in development and support resources in Sweden and in the local markets in order to best support our customers.
“We maintain our view on net sales for the remaining operation during 2017 and estimate that it will be on par with the comparable net sales for 2016 (SEK 83.3 million), even though the volume trend among our customers is more difficult to estimate than before. The company continues to expect an operating profit for the full year 2017 for the remaining operation.”