GOTHENBURG, Sweden and NEW YORK, September 23, 2013 /PRNewswire/ --
Fingerprint Cards (FPC) today presents updated guidance for 2013, a preliminary forecast for 2014 and an updated market outlook for 2014 and 2015.
Due to the ongoing interest in the company following Apple's launch of Touch ID last week and ahead of imminent meetings with investors and analysts, the Board of Directors of FPC has decided to provide new and updated guidance.
- FPC expects that sales in the third quarter of 2013 will be in the range of SEK 27-33 M. FPC had previously provided guidance for sales in the range of SEK 20-30 M.
- FPC continues to expect that sales in the fourth quarter of 2013 should be in the range of SEK 30-50 M.
- Based on current market conditions, FPC currently anticipates that sales for 2014 will exceed SEK 500 M, assuming significant growth in the second half of 2014 relative to the first half of the year.
- FPC estimates that the company will be able to report profitability as of the third quarter of 2014 with EBITDA margins rising quarter by quarter, exceeding 20% for the full year and approaching 30% for the fourth quarter of 2014.
- FPC expects that all Tier 1 smartphone OEMs will have a capacitive fingerprint sensor in their flagship models by the end of 2014.
- FPC estimates that the market for integrated sensors in consumer electronics will be in excess of 500 million units in 2014.
- FPC estimates that the market for integrated sensors in consumer electronics will be in excess of 3 billion units in 2015.
- FPC targets a 60% market share for touch sensors in smartphones in 2014-15 (excluding Apple)
- The FPC 1020, FPC's new touch sensor which is optimized for smartphones and tablets, is scheduled for launch during the first quarter of 2014.
- The above assessments are due to the industry's rapid advances and are subject to considerable uncertainty.
About Fingerprint Cards AB (publ)
Fingerprint Cards AB (FPC) markets, develops and produces biometric components and technologies that through the analysis and matching of an individual's unique fingerprint verify the person's identity. The technology consists of biometric sensors, processors, algorithms and modules that can be used separately or in combination with each other. The competitive advantages offered by the FPC's technology include unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages and the ability to achieve extremely low manufacturing costs, the technology can be implemented in volume products such as smart cards and mobile phones, where extremely rigorous demands are placed on such characteristics. The company's technology can also be used in IT and Internet security, access control, etc.
Fingerprint Cards AB (publ) discloses this information pursuant to the Swedish Securities Market Act (2007:528) and the Swedish Financial Instruments Trading Act (1991:980). The information was issued for publication on September 23, 2013 at 8:00 a.m. CET.
Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the constituent information in accordance with the rules and regulations prevailing in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any of the company's securities in any jurisdiction.
For further information, contact: Johan Carlström, CEO Fingerprint Cards AB (publ), +46(0)31-60-78-20, firstname.lastname@example.org
SOURCE Fingerprint Cards AB