Norwegian fingerprint imaging and recognition technology firm IDEX has reported a net loss of 123.4 million Norwegian krona (US$16.2 million) for 2014, stating that increased staff and an increase in R&D activity explained the increase in annual loss over last year's 65 million krona (US$8.5 million).In results reported on Tuesday, IDEX revealed that annual revenues had reached 1.5 million krona, compared to 2.5 million krona in 2013. However, a significant share of this (1.2 million krona), came in the fourth quarter of 2014″Operating expenses [in 2014] amounted to NOK 125.6 million, up from NOK 66.5 million in 2013. Operating expenses in the fourth quarter amounted to NOK 41.7 million which was significantly higher than the average of the first three quarters this year, and significantly higher than the corresponding period in 2013.”The increase in activity level relates to product development and industrialisation, ASIC improvements, core technology and new sensor materials, said IDEX.The company “expects to capture noticeable share of the multi-billion dollar market for fingerprint sensors”, it added in an outlook and key upcoming milestones statement.IDEX plans to sample off-chip sensors in first half of 2015, with deployment in mass production in the second half of the year. It also expects to sample the latest sensor in glass technology in 2015.”IDEX one of very few suppliers with relevant IP portfolio for capacitive fingerprint sensors applications in mobile, card and internet of things applications. [It is] Continuously strengthening patent and IP position with significant R&D investment.”The company also noted that resource expansion and hiring key staff were important to accelerating business execution.Also on Tuesday, the firm announced that Art Stewart has joined as senior vice president of product management for the IDEX group, located in the US.Stewart has extensive biometric experience in fingerprint sensors from the leading companies in the sector, including more than 10 years with AuthenTec and two years at Synaptics. At both companies he has held several executive positions, most recently VP of the Biometrics Product Division at Synaptics, noted the statement.Lunji Qiu has also been appointed General Manager and Vice President of IDEX China. Dr Qiu has nearly a decade of experience from the biometric fingerprint industry. He comes to IDEX from NEXT Biometrics, where he was General Manager and Vice President of NEXT China.”I am very pleased to welcome Mr Stewart and Dr. Qiu to IDEX. They have very relevant domain experience and proven achievements in the fingerprint sensor industry. They join IDEX at the start of pivotal year for the company,” said Dr. Hemant Mardia, CEO of IDEX.”I am confident they will both contribute greatly towards the commercialisation of IDEX in 2015 and beyond. We are proud of our ability to attract industry experts of this calibre, influence and reputation, and these commitments validate the significant potential for IDEX to become a leading vendor in this rapid growth market,” he added.Dr Ralph W Bernstein will leave his CTO position at the end of the first quarter 2015 “as the centre of gravity of technology and development for IDEX is shifting to the US sites where IDEX can secure specialist skills rapidly”, noted the company.
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