Precise Biometrics sales is developing faster than anticipated and the company´s previously announced goal of a positive result for the fourth quarter 2015 at EBITDA level was achieved already in the third quarter.
Precise Biometrics sales is developing faster than anticipated and the company´s previously announced goal of a positive result for the fourth quarter 2015 at EBITDA level was achieved already in the third quarter. Group operating profit (EBITDA) is expected to increase to 4.4 million SEK for the third quarter (-4.7 million in the second quarter of 2015).
The positive development in earnings is due to fast growing revenues in general, especially in the business area fingerprint technology, and good cost control. Group net profit increased to 3.0 million SEK (-7.9 million in the second quarter). Consolidated net sales increased to 18.3 million SEK, an improvement of 82 % compared to the previous quarter. All figures are preliminary, the full quarterly report will be presented on November 10.
“The market for fingerprint technology continues to grow rapidly. Through our position as the leading supplier of fingerprint software for mobile devices, we are experiencing a surge in demand of our products, which is reflected in the quarter’s sales”, says Håkan Persson, CEO of Precise Biometrics.