Norwegian fingerprint sensor firm NEXT Biometrics has reported that sales in 2016 rose to 92.1 million Norwegian Krone, or $11 million USD, from MNOK 4.6 MNOK in 2015.In discussing results, the company said the high yield from implementation of the new generation low power sensor contributed to reductions of Cost of Goods Sold (COGS) from September onwards and that significantly higher yields were realized form December.NEXT said first tests of the second generation ASIC have been performed and that further tests of updated version is in progress. The volume module deliveries are targeted to start from Q3-2017, with expected cost down in excel of $2.50 per module compared with existing levels.In NEXT's presentation, the company noted that with partner INNOLUX, it is making advancements in developing a flexible fingerprint sensor process and to ready mass production capacity. In parallel working with Smart Card partners, the company targets the first volume deliveries of the world's first fully 1SO-compliant flexible sensor Smart Cards in the second half of 2017.As NEXT announced earlier this month, the Board of Directors appointed Ritu Favre, 48, as new CEO of NEXT Biometrics as CEO Tore Etholm-Idsøe, 57, will continue to work full time in his new role Chairman of the Board to be confirmed at the upcoming General Assembly of NEXT.NEXT Biometrics detailed its outlook for the 3-to-9-month period ahead for 2017, noting it expects: • Q1 Sales are expected to be level with the previous quarters;• Strong focus on flexible sensor project development;• Continued progress with major players in the Smart Card industry;• Increased focus on next generation ASICs; • Implementation of second generation ASIC, reducing COGS by more than $2.50; and • Capitalize on ACIC2 rigid modules in Notebooks and NEXT-Enabled markets. In discussing results, NEXT Biometrics noted that at Trustech 2016 in Cannes, France, as previously announced, it had demonstrated the “world's first” flexible fingerprint sensor that meets all ISO standard requirements. It said meeting all the specifications is considered to be mandatory in high volume governmental and financial markets. The company added that first customers have already signed three volume orders from deliver from H2-2017. NEXT said, the total volumes of the first orders are well above 1 million sensors.
NEXT Biometrics reveals sales progress in financial results
