Press release December 8, 2016
Fingerprint Cards adjusts its 2016 revenue forecast
Fingerprint Cards expects its revenues for 2016 to be in the range of 6600 - 6800 MSEK, which is lower than the previous forecast of 7200 - 7500 MSEK, communicated in conjunction with the interim report for the third quarter.
The company's revenue growth during the fourth quarter has been lower than expected. The expected strong seasonality in the fourth quarter did not occur, impacted mainly by earlier inventory build-up throughout the supply chain. Shortages of certain other components, which have affected smartphone volumes negatively during the quarter, and increased competition, also had a negative impact on Fingerprint Cards' revenues. Fingerprint Cards expects that these factors also will impact revenues for the first quarter 2017.
The operating margin for 2016 is estimated to be about 40%. The forecast is unchanged compared to the previously communicated estimate.
A telephone conference during which the adjusted 2016 revenue forecast will be commented, will be held today at 08.30 a.m. (CET). Media, analysts and institutional investors are welcome to participate in the telephone conference by dialing in. To participate by telephone, please dial in on +46(0)200-890 171 (Sweden) or +44(0)1452-555 566 (international participants). State conference ID 332 375 52 when dialling in.
As previously announced, another press release containing the company's financial guidance for 2017 will also be published on December 8th 2016, at 07.00 a.m. (CET). Please note that financial guidance for 2017 will not be commented during the telephone conference at 08.30, but will be presented and commented on separately during the Capital Markets Day held by Fingerprint Cards today, at 13:00-17:00.
For more information, please contact: Christian Fredrikson, CEO Fingerprint Cards AB (publ), +46(0)31-60 78 20, investrel@fingerprints.com Johan Wilsby, CFO, Fingerprint Cards AB (publ), +46(0)31-60 78 20, investrel@fingerprints.com
About Fingerprint Cards AB (publ)
Fingerprint Cards AB (FPC) is a high-tech, listed company which develops, produces and markets biometric technology that, through the analysis and matching of an individual's unique fingerprint, verifies the person's identity. A secure and convenient user experience is thus made possible, beyond keys and pins. The FPC technology offers world-class advantages and includes unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages, in combination with low production costs, the technology may be implemented in large volume products, such as smartphones, tablets and biometric cards where these demands are extremely high. FPC's technology has been tested thoroughly in several fields of application.
This is information that Fingerprint Cards is obliged to make public pursuant to the EU Market Abuse Regulation, and where applicable, the Swedish Securities Market Act and/or the Swedish Financial Trading Act. The information was submitted for publication, through the contact persons set out above, at 07.00 a.m. (CET) on December 8 th , 2016.
Important information
Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. Recipients of this press release are responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or invitation to acquire or subscribe for new securities in Fingerprint Cards in any jurisdiction.
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