“[Fingerprints’ CEO] said that the company is working on an in-display fingerprint sensor planned for launch this year, and that it has already demonstrated prototypes for customers.”
Fingerprint Cards (or “Fingerprints”) has issued its Q4 and year-end results for 2018, depicting a continuing battle against challenging market conditions.
The Swedish company’s revenues for the quarter came in at SEK 424.3 million, down slightly from the SEK 431.2 million in revenues the company reported for Q3. Its net result for the quarter was a loss of SEK 17.5 million, compared to a loss of SEK 16.5 million a year ago.
Looking to the full year, Fingerprints brought in revenues of a little over SEK 1.5 billion, compared to revenues just shy of SEK 2.97 billion in 2017. Its net result for the 2018 fiscal year was a loss of SEK 630.7 million, compared to a profit of SEK 120.3 million for 2017.
Commenting on the results in a statement, Fingerprints CEO Christian Fredrikson emphasized that the company “has largely succeeded in defending its market share and we remain the leading supplier in the mobile market,” adding that Fingerprints’ cost reduction efforts have gone according to plan and that it has solid net cash assets and is debt free after paying off a major loan in the fourth quarter.
Looking ahead, however, Fredrikson said he expects the market “to remain challenging,” especially in the first quarter, with several smartphone makers warning that they anticipate poor financial results. Nevertheless, Fingerprint Cards has a number of initiatives underway that will help it to remain competitive. Fredrikson said that the company is working on an in-display fingerprint sensor planned for launch this year, and that it has already demonstrated prototypes for customers. He also pointed to its efforts in the emerging biometric payment cards market, asserting, “Fingerprints’ biometric sensors are used in all seventeen tests of contactless payment cards that have been published to date, which is testimony to the strength of our offering.”
Fredrikson concluded that Fingerprints’ had succeeded in its goal for 2018 of expanding its sales outside of the smartphone market to the point where they account for 10 percent of its sales portfolio, and said the company will continue to diversify its business to take advantage of new opportunities.
February 15, 2019 – by Alex Perala