Norwegian fingerprint sensor makers NEXT Biometrics has revealed that sales in the second quarter rose to 26.6 million Norwegian Krone (NOK) ($3.2 million), up from MNOK 5.2 in the first quarter.NEXT added that the net loss in the second quarter of 2016 was MNOK 51.4 compared with a loss of MNOK 49.5 in the previous quarter and a loss of MNOK 24.5 in the corresponding quarter of 2015.Tore Etholm-Idsoe, CEO of NEXT Biometrics, said, “During the second quarter of 2016, NEXT continued to scale-up its mass production capacity for volume deliveries. After initial increased shipments in first quarter, fingerprint sensor volumes continued to grow in the second quarter. During this high growth phase, a number of production yield optimization projects were initiated. Such cost down improvements have been proven effective late in the second quarter and will have impact from late in the third quarter of 2016. All costs related to Q2-transition to new products and volume ramp-up have been booked in this quarter.”The NEXT CEO also detailed the company's outlook, noting that sales in Q3 and Q4 are expected to marginally increase compared with Q2 2016, that the company has Improved production yields and higher production capacity and that there is a strong focus on mass-production preparations for flexible sensors.There are also continued negotiations with major players in the Smart Card industry and further investments in 2018 generation smart cards.Etholm-Idsoe said, “Due to NEXT´s recent successes in bringing forward the world´s first fully ISO-compliant flexible sensor, the vast opportunity Smart Card segment is now the primary focus for company. To NEXT´s knowledge, no other supplier within the fingerprint industry has been able to design sensors meeting all mandatory ISO standard requirements. Thus, NEXT considers itself to have fundamental competitive advantages within this market. Early Smart Card customer projects involve significant value propositions. Several of these first customer projects are larger and more attractive than initially estimated. The Smart Card order announced in April demonstrates the attractive early stage commercial viability of the NEXT Smart Card activities.”The company said that the NEXT ASIC project, a significant cost-down project, has completed its design phase, first silicon samples have been delivered and the Company still targets first volume shipments during Q2 2017.Etholm-Idsoe said, “NEXT focuses its resources on quality dependent market segments that require high uncompromised levels of security and convenience coupled with the ability to serve close to 100% of a given population. These markets include Smart Cards, NEXT-Enabled markets, traditional markets, high-end security focused smartphones and notebooks where the NEXT technology is uniquely positioned. During the past 12-to-18 months, NEXT identified significant opportunities within several major Smart Card market segments.
NEXT Biometrics announces 2Q results, plans for smart card segment
