Due to this new forecast, the Board has also issued a financial forecast for 2013 to the effect that sales will be in the interval of SEK 130-190 M, and that the EBITDA margin will be 20-35%.
FPC and CrucialTec (CT) published a joint press release today concerning a three-year supply agreement, expanded product-development and production partnership and a revised forecast for sales of sensors during 2013. Due to the forecast increase, combined with the market trend following Apple’s acquisition of FPC’s competitor Authentec, the Board of FPC today issued a financial forecast for 2013. Based on the lead times for mobile projects, from the point of design-win (DW) to volume order, FPC assesses that most of the above-mentioned forecast sales for 2013 will be secured during the third and fourth quarters.
“In October, we received our first DW for a mobile phone from a highly respected Japanese mobile phone manufacturer,” says Johan Carlström, President and CEO of FPC. “Our assessment is that we are close to a number of other DWs over the next six months. Last Monday, we also received our first order for area sensors since 2011 and now see a steady recovery in the market. As previously announced in our Third Quarter Report, FPC will now act proactively to capitalize on these new opportunities by increasing the number of employees, consultants and development projects over the coming year. However, this initiative will entail higher cost and investment levels than previously anticipated. The Board of Directors will therefore evaluate various alternatives for financing the expansion and has engaged Carnegie Investment Bank as financial advisor.”
About Fingerprint Cards AB (publ)
Fingerprint Cards AB (fingerprints.com) develops, produces and markets biometric components that through analysis and matching of an individual’s unique fingerprint verify a person’s identity. The technology consists of biometric sensors, processors, algorithms and modules that can be used separately or combined. The competitive advantages offered by Fingerprint Cards’ technology include unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages and the ability to achieve extremely low manufacturing costs, the technology can be implemented in volume products, such as smart cards and mobile phones, where extremely rigorous demands are placed on these characteristics. Fingerprint Cards’ technology can also be used in IT and Internet products for security and access control, etc.
For more information, please contact:
Fingerprint Cards AB (publ), Box 2412, SE-403 16 Gothenburg, Sweden
Fingerprint Cards AB (FPC) is listed on Nasdaq OMX Stockholm (FING B) and has its head office in Gothenburg, Sweden.
Fingerprint Cards AB (publ) discloses this information pursuant to the Securities Market Act (2007:528) and the Financial Instruments Trading Act (1991:980). The information was issued for publication on November 29, 2012 at 8.10 am.
Issuing, publishing or distributing this press release may be subject to restrictions in certain jurisdictions. Recipients of this press release are responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or invitation to acquire or subscribe for new securities in Fingerprint Cards in any jurisdiction.