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© fingerprint card Components | September 18, 2017

Fingerprint Cards expects lower revenues in 3Q

Swedish biometrics company, Fingerprint Cards, expects its third quarter revenues to fall in the range of SEK 800 – 840 million (USD 100 – 105 million), which is in line with the previous quarter.
The company is currently experiencing a cautious market and one contributing factor is Apple’s launch. Distributors and module houses delivering to the company’s OEM-customers have therefore minimized their inventory levels. In spite of this, Fingerprints estimates that the number of shipped sensors from the company during the third quarter will increase with around 40% compared to the second quarter, the company states in an update.

The product mix has changed as most of Fingerprints larger OEM-customers have chosen to switch to backside mounted sensors that have a lower price. This has resulted in a decrease of the average selling price of sensors, which has a negative impact on revenues. Fingerprints has previously communicated an average selling price reduction exceeding 20% per annum, but the current rate is approximately 30%.

The company is also pointing to the weakening of the US dollar as a reason to the decrease in revenues.

The company has yet not finalised its financial statements for the third quarter and therefore does not provide any forecast.

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October 16 2017 2:56 PM V8.8.6-2