Sweden's Fingerprint Cards has reported lower than expected earnings in a year-end report, and dampened expectations for the year ahead.The biometrics company, which yesterday announced the purchase of iris recognition solutions firm Delta ID for $106mn, said it expected first-quarter revenues to be “materially weaker” than a year ago because of an inventory build-up in the supply chain, a component shortage affecting its customers and growing competition.FPC repeated its 2017 full-year revenue guidance of between 7.5 to 9.5 billion crowns – analysts had on average expected 2017 revenue of 7.9 billion crownsThe company posted an operating profit of 548 million Swedish crowns ($63 million), lower than the 620 million seen by analysts in a Reuters poll, but up from 518 million in the year-ago quarter.Shares dropped as much as 8 percent on Thursday after falling 15 percent so far this year.The share fluctuations have not been helped by the departure of a board member last month following alleged unauthorized disclosure of inside information also weighing.CEO Christian Fredrikson told Reuters he expects a market share above 50 percent in 2017, down from between 55 and 60 percent in 2016, with dual sourcing — smartphone makers which seek more than one supplier — an important reason.
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