Precise reports revenue dip

 

Precise Biometrics has reported its results for the year ended December 2007, with net revenue for the year reaching SEK 24.8 million, down from SEK47.7 for the same period n 2006. Net revenue for the final quarter was SEK 8.1 million, down from SEK 11.4 for the same period last year.

Losses for the financial year were SEK -35.3 million, an improvement on last year’s figure of SEK -90.9 million.

The firm says work with OKI Electric Industry has resulted in the launch of a completely new type of electronic chip in which Precise Biometrics’ fingerprint technology is being embedded. This will be targeted at companies that manufacture electrical products for the consumer market. Production will begin in April 2008, with approximately 200,000 chips per month being produced.

During the final quarter of 2007, the firm received a follow-up order for hardware for Portugal’s national ID card project. The order, which it won with Zetes Burótica, will see it delivering 1,400 of its Precise 250 MC fingerprint readers to the scheme. It also came top in the procurement process for national ID cards for a small un-named country. The company won the tender together with a partner and the solution is based on Precise Match-on-Card technology.

Precise Biometrics also received a follow-up order during the quarter for hardware from the Swiss telecoms group Swisscom. The order, which is worth around SEK 2.4 million, will be delivered during the first quarter 2008.