Biometrics and identity solutions company Suprema, Inc. has announced the financial results of its first quarter in 2014. With biometrics breaking out this year, it’s no surprise that the company is doing well, but the fiscal report shows a personal best for the company who continues to grow at a rapid pace.
In terms of revenue, Suprema reports USD 18.3 million. This is an increase of 69.1 percent on the same period last year. The company’s net profit also increased in comparison to Q1 2013, with this report showing a 40.3 percent increase, which is made to look more impressive when comparing it to the preceding quarter: compared to Q4 2013, Suprema is reporting a 169.4 percent increase in net profit.
Last year, Suprema was recognized by A&S International Magazine as among the top ten revenue growth companies in physical security markets. The Q1 2014 report is in line with this reputation, and Suprema does not expect things to slow down.
James Lee, CEO of Suprema speaks to this: “We consider these results as owing to our success in aligning business strategies this year, such as pioneering new markets, including Russia, Brazil and some parts of Europe, and focusing on key business opportunities around the globe. From this point of view, it is even more meaningful to report such positive results early in the year.”
In April, findBIOMETRICS took a strong focus on the physical access control market, and Suprema was a part of the resulting conversation. Particularly, we recognized the company’s deployment of fingerprint readers in the SuperNAPs data centers.
Suprema’s readers have applications outside of physical security. Recently the company deployed its technology in Uganda for purposes of biometric voter registration.
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