Not a bad week for Assa Abloy: a patent skirmish win and solid fiscal ’23 financials

Global access control company Assa Abloy has prevailed at its third patent dispute with a well-known patent troll in two months. In December, Abloy lost a challenge to intellectual property collector CPC Patent Technologies.

The U.S. Patent Trial and Appeal Board this week sided with Abloy on the validity of a biometric security patent held by CPC, according to trade publication Law360. CPC is held by Charter Pacific.

The patent in question is No. 8,620,039. The claims in the document disputed by Abloy were ruled as obvious work based on previous inventions.

In December, the maker of access cards lost two separate challenges to 17 biometric remote entry system patents owned by CPC.

Abloy this week reported its fiscal 2023 year. Net income rose 13 percent, from SEK 13.2 million (US$1.2 million) in 2022, or SEK 11.97 ($1.14) per share, to SEK 15 million ($1.4 million), or SEK 13.54 ($1.29), last year. Sales rose 16 percent, from SEK 120.7 million ($11.52 million) to $140.7 million ($40.17 million) last year.

Operating cash flow jumped 60 percent year over year, from SEK 15.8 million ($1.5 million) last year to SEK 25.2 million ($2.4 million), according to the company.

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Assa Abloy  |  biometrics  |  Charter Pacific Corporation  |  financial results  |  patents  |  stocks