Egis reports significant earnings growth for biometric technology in Q2
Egis Technology has reported a 28 percent year-over-year jump in revenue to NT$1,899 million (US$61 million) for the second quarter of 2019,
Earnings per share were NT$3.46 ($0.11), down from NT$4.20 ($0.14) a year earlier, but up from NT$1.96 ($0.06) in Q1 2019, and gross margin declined 3 percent from the previous quarter to 36 percent, according to the company announcement.
Demand from a major Korean customer was impacted by model transition and what the company describes as “marco factors,” such as trade hostilities between Korea and Japan, and the U.S. and Chinese tech giant Huawei.
Egis expects to work on more tablet and smartphone models in the second half of the year than in the first half, starting with new models at its key Korean customer in August, and its shipments of optical sensors to Chinese began in June and July, and are expected to increase in volume this quarter.
Current forecasts suggest Egis will record stronger top-line growth on a quarter by quarter basis in the fourth quarter of 2019 than the third quarter, and the company’s next-generation fingerprint products, such as ultra-slim sensors, and non-fingerprint products could contribute revenue starting in 2020.
Egis under-display fingerprint sensors with integrated biometric software from Precise Biometrics were recently revealed to be on the market in a series of mobile devices.
Over the coming quarter, Egis will participate in the OTC/KGI Conferences in Singapore on August 29 and Hong Kong on August 30, and the Credit Suisse 20th Asian Technology Conference in Taiwan on September 4 and 5.
biometrics | Egis Technology | financial results | fingerprint sensors