Swedish fingerprint firm Precise Biometrics has reported a rise in sales in the third quarter.Consolidated net sales increased to SEK 25.5 (18.3) million in the period, while EBITDA increased to 6.7 million crowns ($733.3 mln) (5.4) million.”The company's strategy to create a broad customer base in order to take advantage of growth in the market is now starting to pay off”, said CEO Håkan Persson “Our fingerprint software has become somewhat of a de facto standard among sensor manufacturers. During the quarter three more of our customers generated royalty revenues, and in total we received royalties from eight customers.”In a statement, the firm said that long-term revenue trend is positive, but will fluctuate from one quarter to another.It is the first quarterly update since the company signed a licencing deal with Samsung for its mobile fingerprint algorithm Precise Biomatch Mobile.Commenting on the deal, Persson said: “This partnership creates additional growth opportunities for us, and we now have 23 licensing agreements for distribution of our algorithm solutions.”During the quarter 24 mobile devices were launched with Precise BioMatch MobileAlso in the quarter, Licensing agreements were signed with the sensor manufacturer Betterlife and Qualcomm Technologies,The fingerprint technology market expected to grow by more than 35 percent each year until 2020, said Precise.The CEO added on the growing smart card segment: “In collaboration with a South Korean partner that markets biometric solutions for smart cards, our algorithm solution was certified by the national institute for the Internet and security in South Korea. This certification is one step in ongoing development efforts with our partner to enable secure payments with, for example, smart cards using fingerprint technology. This opens up opportunities for us in the South Korean market. We can see similar developments in many other countries, not least in Asia.”
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