Gemalto posts 19% rise in Q1 sales


Franco-Dutch Secure chip giant Gemalto has reported a 19 percent rise in first-quarter sales for 2015 on constant exchange rates.

First quarter revenue rose to 686 million euros ($762.49 million) compared to 532 million euros in the previous year, Gemalto wrote in its first results since it bought U.S. data security company SafeNet in January.

The firm added that growth came from all main segments and activities, with strong performance in machine-to-machine and in payment.

Gemalto said Payment & Identity segment's revenue was 369 million euros for the first quarter, an increase of 35 percent compared to the previous year, helped by the SafeNet acquisition.

The mobile segment posted revenue of 316 mln euros, up 7 percent at constant exchange rates compared to the previous year.

Olivier Piou, Chief Executive Officer, commented: “The first quarter of 2015 leveraged the investments made, with significant expansion in our businesses. Payment continued to grow vigorously, on-going deployments confirm the improving momentum in Government Programs, and the strong expertise of the SafeNet team complements well our offering. Performance in the Mobile segment was led by excellent Machine-to-Machine growth and a solid SIM business.

And we are focused on delivering a steady progression towards our 2017 objectives.”

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