NEXT Biometrics CEO Predicts 2017 ‘Leap in Margins’ in Q3 Update

“In a statement announcing the results, NEXT Biometrics CEO Tore Etholm Idsøe focused on the company’s efforts in the smart card market, and its potential payoffs to come in 2017.”

NEXT Biometrics has announced its Q3 results for 2016.

NEXT CEO Predicts 2017 'Leap in Margins in Q3 UpdateThe quarter ended September 30th saw sales of 28.4 million NOK, up from 26.6 million NOK in Q2 and 0.2 million NOK in Q3 of 2015. It also saw a net loss of 44.4 million NOK, against a net loss of 51.5 million in Q2 and a net loss of 29.9 million in Q3 of 2015.

In a statement announcing the results, NEXT Biometrics CEO Tore Etholm Idsøe focused on the company’s efforts in the smart card market, and its potential payoffs to come in 2017. “The Smart Card segment is the primary focus for the company,” he said, adding later that “NEXT expects the operation mode to normalize from the first quarter of 2017 and to make a leap in terms of margins” during Q3 of 2017.

NEXT has just announced its third major order for its flexible fingerprint sensors for smart cards, and is working with partner Innolux to improve production capacity in order to meet these orders next year.

November 22, 2016 – by Alex Perala