Egis Reports Strong Year-Over-Year Growth

Biometrics News: Egis Reports Strong Year-Over-Year Growth

Taiwan-based Egis Technology is reporting solid results in its year-end update for 2019, despite a fourth quarter revenue dip.

The company says it brought in NT$ 7.358 billion, or roughly $244.5 million USD, for the 2019 fiscal year, which it called “a new high” in a statement announcing the result. The figure represents a 24.5 percent year-over-year increase.

Revenues for the fourth quarter, meanwhile, were down 4.1 percent quarter-over-quarter, “which is in line with the seasonal pattern seen among IC fabless peers and consistent with what we communicated at our previous earnings conference,” the company said.

In its Q3 update, Egis reported that some major customers had “requested not to carry inventory at year-end,” which suggested that it would see lower shipment volumes in the coming quarter. But the company insisted that its management team expected this development to be temporary in nature, and suggested that its fingerprint sensor technology was expected to find its way into a growing number of smartphone models.

Fingerprint biometrics is Egis Technology’s specialty, and the company is a board member of the influential FIDO Alliance.

January 6, 2019 – by Alex Perala