FPC reveals strong growth figures for Q3

Sweden's Fingerprint Cards has revealed that revenues amounted to SEK 964 million (US$111 million) in the third quarter this year, an increase of 1,358% compared with the third quarter of 2014.Operating profit for the period reached SEK 346.1 million, with earnings per share increasing to SEK 5.58. Meanwhile, an Order backlog at the end of the period was worth SEK 1,788 million.”I am proud to report another strong quarter for Fingerprint Cards (FPC). Our revenues have continued to grow strongly and for the second consecutive quarter, we have recorded an operating profit,” said Jörgen Lantto, CEO.Revenues for the fourth quarter of 2015 are now expected to be SEK 1,200-1,300 M, corresponding to a year-on-year growth between 1,043-1,138%.The revenue guidance for 2015 is thus specified at SEK 2.75-2.85 billion compared to more than SEK 2.5 billion.”Gross margin improved from 36% in the second quarter to 45% in the third quarter. This improvement is attributable to a changed product mix”, said Lantto.”The positive earnings trend is also reflected in our cash flow from operating activities, which corresponded to 87% of our operating profit in the third quarter.””FPC's new touch fingerprint sensors FPC1140/FPC1145 and FPC1022/FPC1035 are now integrated into smartphones that are being launched by globally leading smartphone manufacturers. As a complete systems supplier, our technology comprises both sensor hardware and proprietary algorithms. The former generates the market's best image quality, which our algorithms capitalize on to be able to provide the market's smallest sensors. This unique combination enables us to offer market-leading biometric performance with retained security and makes our new sensors highly competitive, which is strengthening our position entering into 2016.””In addition to the growing touch fingerprint sensor business for smartphones, we are continuing to develop our offering for smart cards and to adapt the sensors for the special requirements arising from integration into future card solutions. Developments are proceeding to plan and our sensors can now be made so thin that they allow for integration into smart cards. This market is still in its infancy, but we expect the first commercial deliveries of touch fingerprint sensors for smart cards to occur during 2016″.”We deem that our technology leadership in touch fingerprint sensors for smartphones gives us a head start as this new market is created. Our ambition is to establish the same leadership in this segment as we have in smartphones.”

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