NEXT Biometrics Announces Interim 3rd Quarter & Improved Margins
OSLO, Norway, Nov.14, 2017(GLOBE NEWSWIRE) -- NEXT Biometrics Group ASA (Oslo Bors:NEXT) today announced interim results for the third quarter, with improved gross margins and revenue, and results for the first nine months ended September 30, 2017, as CEO Ritu Favre outlined NEXT's strategic focus for the leader in large size, high-quality low-cost rigid and flexible fingerprint sensors.
NEXT summarized highlights:
- 3rd Quarter Revenue rose to NOK 25.4 million vs NOK 24 million in the 2nd Quarter of 2017 (8.17 Norwegian Krone equals $1 USD).
- Gross margin improved to -4% in the 3rd Quarter of 2017.
- Commenced production shipments of NB-2034-S2 fingerprint sensor to US Tier 1 notebook manufacturer in October.
- Began commercial volume sensor shipments to Fujitsu, a Tier 1 Japanese notebook manufacturer in October.
- On track to reach target of positive gross margin by 1st Quarter of 2018.
- Announced casino smart card deal with First Biometrics
- Achieved milestone of 3 million sensors shipped during October
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."
The company's detailed NEXT Biometrics progress and outlook at the www.NEXTBiometrics.com website, where full details of 3rd quarter and 9-month 2017 results are also posted.
ABOUT NEXT Biometrics: Enabled by its patented NEXT Active Thermal principle, NEXT Biometrics (www.nextbiometrics.com) offers large high-quality area fingerprint sensors in both rigid and flexible formats. The sensors can be implemented in a wide range of product formats, including smartcards, notebooks, time & attendance, USB-sensors, Smart Card readers, secure tokens and access control systems, 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), Ritu.Favre@NEXTbiometrics.com and Knut St??len (CFO), Knut.Stalen@NEXTbiometrics.com.
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