Sweden's Precise Biometrics has said tough conditions mean it needs to revise its full-year 2017 revenue forecast.In a statement, the company said that due to the strong competitive situation for Precise Biometrics´ customers, sales have not increased in line with the company´s previous projections.Therefore, Precise Biometrics revises its revenue guidance for the full-year 2017 from previous guidance of around SEK 83 million to revenues in the range of SEK 60-70 million.Due to the weaker sales development, the company will show an operating loss, which deviates from the previous guidance that the full-year 2017 would result in an operating profit.Preliminary royalty reports from Precise Biometrics customers shows that royalty revenues in the third quarter of 2017 have not increased according to the company´s previous projections.Due to the strong competitive situation in the capacitive sensor market, which is dominated by a few major sensor manufacturers, the company's customers have won fewer projects and been assigned lower volumes than projected. Royalty revenues in the fourth quarter of 2017 will also be lower than previously projected due to the current sales development.Royalty is reported by the company's customers after the end of the quarter and is difficult to predict as the royalty is based on actual sensor deliveries to smartphone manufacturers.

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