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Fingerprint Cards AB : Annual Accounts 2012

02/21/2013 | 02:25am US/Eastern

Press release,
Gothenburg, February 21, 2013

2012 was weak in terms of earnings, but laid the foundation for 2013 as a global breakthrough year for FPC's technology and biometrics solutions

Fingerprint Cards AB (publ), Corp. Reg. No. 556154-2381, (FPC),

Fourth quarter 2012:

·    Sales totaled SEK 1.9 M (18.6).

·    According to the new calculation method, a gross loss of SEK 1.5 M (profit: 9.0) was reported.

·    According to the former calculation method, gross profit of SEK 1.8 M (9.6) would have been reported.

·    The loss after financial items amounted to SEK 9.8 M (profit: 5.7).

·    According to the new calculation method, the gross margin was 77% (48%).

·    According to the former calculation method, the gross margin would have been 94% (52%).

·    The loss per share was SEK 0.22 (earnings: 0.02).

·    FPC won its first Design Win award with mobile phone manufacturer in Japan.

·    FPC reopened the office and strengthened the organization in Taiwan with two key people.

·    FPC integrated its authentication technology in Secure Elements for mobile transactions.

·    FPC opened a US office in San Francisco and hired a Regional Sales Director.

·    FPC successfully implemented a private placement of 4.2 million Class B shares and SEK 36.1 M.

·    FPC won its first Design Win award with mobile phone manufacturer in China.

·    FPC won its second Design Win award with mobile phone manufacturer in Japan.

·    FPC hired Jörgen Lantto as Executive Vice President, CTO and Director of Strategy.

·    FPC won its third Design Win award with mobile phone manufacturer in Japan.

Full-year January-December 2012

·    Sales totaled SEK 10.3 M (68.6).

·    According to the new calculation method, a gross loss of SEK 5.7 M (profit: 31.6) was reported.

·    According to the former calculation method, gross profit of SEK 6.8 M (38.7) would have been reported.

·    The loss after financial items was SEK 38.1 M (profit: 3.4).

·    According to the new calculation method, the gross margin was 55% (46%).

·    According to the former calculation method, the gross margin would have been 66% (56%).

·    The loss per share was SEK 0.89 (earnings: 0.08).

·    Cash and cash equivalents at the year-end amounted to SEK 60 M (23).

·    The order backlog at December 31 was SEK 19.7 M (6.1).


Notable events after the close of the reporting period:

·    FPC opened an office in Tokyo, Japan, and hired a Senior Technical Manager.

·    FPC opened an office in Seoul, South Korea, and hired a Senior Sales Executive.

·    FPC obtained working credit of SEK 15 M from Nordea with a guarantee from EKN.

·    FPC received its first mass production order of 100,000 sensors from CT intended for mobile phones in Japan.

·    FPC won its first Design Win award for the FPC 1080A swipe sensor for tablets from a prominent Chinese house of design.

·    FPC strengthened its Supply Chain Management and hired Magnus Hansson as Senior Sourcing Director.

·    FPC's technology was chosen by the world leading supplier of financial information for its authentication solutions.

·    FPC received a Design Win in China for accessories for mobile phones and tablets and secured an initial order for 800,000 FPC1080As.

·    FPC hired Jonas Andersson as Director Business Development in secure mobile transactions.

·    FPC convened an Extraordinary General Meeting for a new incentive program for newly recruited key employees.

·    Forecast for 2013 reiterated: 30 million sold units, sales of SEK 130-190 M, EBITDA 20-35%.

For more information, please contact: Johan Carlström, President and CEO, Fingerprint Cards AB (publ), +46-31-60 78 20, investrel@fingerprints.com

Publication pursuant to Swedish legislation: Fingerprint Cards AB (publ) discloses this information pursuant to the Securities Market Act (2007:528) and/or the Financial Instruments Trading Act (1991:980). The information was issued for publication on February 21, 2013, at. 8.00 a.m.

Key information

Issuing, publishing or distributing this press release may be subject to restrictions in certain jurisdictions. 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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