Virus outbreak in Vietnam delays Fingerprint's Q2 revenues
Swedish biometrics company, Fingerprint Cards, says that parts of the company’s Q2 revenues will be delayed due to the covid-19 outbreak in Vietnam.
However, the company says that the lost sales in Q2 are expected to be made up in the coming quarters. A covid-19 outbreak in the Vietnamese province of Bac Giang has led authorities to temporarily shut down an industrial complex – in which one of Fingerprint's suppliers has production facilities – in order to avoid spread of the virus. Since part of the company's revenue for the second quarter will thus be delayed, the Fingerprint is forced to withdraw its revenue forecast for the second quarter 2021. The company is not providing any updated forecast at this moment. According to the latest information available to Fingerprints, a gradual restart of the production facilities is planned, starting in June. At the same time, the company says it has secured increased capacity with other suppliers during the third quarter of 2021. “We therefore make the assessment that the lost sales in Q2 will be made up in the coming quarters,” the company writes in a press release.