Fingerprint Cards has released its results for the first quarter of 2021. The company reported revenues of SEK 354.7 million for the quarter, which is up from SEK 310 million for the comparable period in 2020. Those gains are the result of a 32 percent increase in year-over-year sales.
FPC’s operating activities translated to SEK 36.3 million in cash flow, which is a considerable improvement over the negative SEK 37.8 in cash flow the company reported in the comparable quarter of last year. The company has cash holdings of SEK 292 million as of March 31, and bought back roughly SEK 85 million worth of its own shares in the quarter.
Highlights for the quarter include the commercial debut of the RedmiBook Pro 15 from Xiaomi, which is the first device to feature FPC’s new fingerprint solution for PCs. Xiaomi was also the first company to release a device with the new FPC1542, the latest version of FPC’s side-mounted fingerprint sensor. The FPC1542 is the first with a curved shape, and appeared in Xiaomi’s Redmi K40 series of smartphones.
In other news, FPC’s latest T-Shape fingerprint sensor achieved compliance with Mastercard’s Reference Specifications, which will make it easier for manufacturers to deploy the solution in the next generation of biometric payment cards. The certification was accomplished with help from Fime, and covers FPC’s matching software in addition to the sensor itself.
Finally, FPC moved forward with plans for a trio of new facilities in Europe and Asia. The company has opened a regional office in Shanghai that will focus on its mobile business line, and another in Zug, Switzerland, that will concentrate on payments and access control. The last of the three will be a sales and distribution center located in Singapore.
FPC is anticipating continued success in the second quarter, forecasting revenues between SEK 330 million and SEK 370 million. The company discussed its first quarter results during a phone conference and webcast on April 21.
April 21, 2021 – by Eric Weiss