Suprema, a provider of fingerprint recognition technology and systems, announced its 2008 revenue increased 100 percent from the previous year. The growth came from global sales and the successful launch of new businesses, such as live scanners and electronic passport solutions.
For the year ended Dec. 31, 2008, the company reported US$16.22 million in sales and $7.24 million in operating profit, representing growth of 100 percent and 150 percent rise from 2007.
The strong growth of 80 percent in sales of the fingerprint-based security devices and modules made a major contribution to the company's success, along with newly-launched businesses in government. Suprema recorded top results in the U.S. government's NIST MINEX tests by outperforming all previously tested vendors in November 2008. In the coming year, the company has a brighter outlook for expanding live scanners and electronic passport solutions in international markets.
Suprema has recorded double growth for three consecutive years since 2006. In July 2008, the company launched Korea's first biometric IPO, raising current market capital to more than $65.10 million.
Suprema is a provider of fingerprint recognition and identity management solutions and systems. The company's range of products includes fingerprint modules, fingerprint systems, e-passport readers and live scanners. Suprema has a worldwide sales network in more 100 countries. It is listed on the KOSDAQ stock index.