NEXT Biometrics Announces Interim 2nd Quarter Results

By | August 29, 2017

OSLO, Norway, Aug. 29, 2017 (GLOBE NEWSWIRE) — NEXT Biometrics Group ASA (Oslo Bors:NEXT) today announced interim results for the second quarter and first half ended June 30, 2017 and CEO Ritu Favre outlined NEXT’s strategic focus going forward.  NEXT, the leader in high-quality low-cost rigid and flexible fingerprint sensors, summarized first half 2017 highlights:

  • Revenue of NOK 24 million in Q2-16 vs NOK 24.1 million Q1-16.  (At present, 1 US Dollar equals 7.71 Norwegian Krone)
  • Gross margin improvement plan on track
  • Confirmed ability to mass produce flexible fingerprint sensors
  • Completed the coater and the cutter investment projects
  • High-volume order placed for second generation ASIC
  • Signed two new contracts in 3rd Quarter 2017:

    –  Global distribution agreement with Arrow Electronics

    –  First Biometrics

CEO Ritu Favre said: “At NEXT we see market opportunity for our large cost-efficient flexible fingerprint sensors as the biometrics market matures and we develop our unique technology.  We reached an important milestone in the second quarter with mass-production capacity firmly established for both flexible and rigid fingerprint sensors.  This confirms our leading technological platform and positions NEXT in the forefront of the market to secure growth within our targeted markets led by Smart Cards, Government ID, Notebooks and Access Control.”

In a NEXT Biometrics webcast online here, the CEO outlined NEXT’s results and the company’s outlook.  

ABOUT NEXT Biometrics: Enabled by its patented NEXT Active Thermal principle, NEXT Biometrics (www.NextBiometrics.com) offers high quality area fingerprint sensors at a fraction of the prices of comparable competitors. A wide range of product formats including smartcards, smartphones, tablets, PC’s, access control, time registration systems, wearables, payment terminals, flash drives, USB tokens, key fobs and many more are targeted.

NEXT Biometric Group ASA is a publicly-listed company headquartered in Oslo, Norway and with sales, support and development subsidiaries in Seattle, Silicon Valley, Taipei, Prague and Shanghai.  Media and Investor contacts for NEXT Biometrics: Ritu Favre (CEO), [email protected] and Knut Stålen (CFO), [email protected].

Contact:  Brian Dobson, DobsonPR.com, [email protected] 203-613-2222

Source: GlobeNewsWire

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