© bahar bostanci Business | October 27, 2016

Fingerprint at the lower end of forecast

Swedish sensor-company Fingerprint Cards showed strong revenue growth, but still says the full year will end up at the lower end of the forecast.
Revenues for the third quarter totaled SEK 1,862.3 M (964.0), up 93 percent compared with the third quarter of 2015. Operating profit amounted to SEK 766.8 M (346.2) and the operating margin to 41 percent (36).

The revenue guidance for 2016 has been made more precise at SEK 7,200-7,500 million compared with the previously communicated SEK 7,200-8,300 million.

”For full-year 2016, we estimate that revenues will end up between SEK 7,200 M and SEK 7,500 M, which is in the lower region of the previously stated range of SEK 7,200-8,300 M. The main reason for this is that a couple of our customers have reduced their short-term production forecasts for already launched smartphones”, CEO Christian Fredrikson comments.

[ EUR 1 = SEK 9.77]
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