Precise Biometrics revises full-year 2017 revenue and operating results guidance
Due to the strong competitive situation for Precise Biometrics´ customers, sales have not increased in line with the company´s previous projections. Therefore, Precise Biometrics revises its revenue guidance for the full-year 2017 from previous guidance of around SEK 83 million to revenues in the range of SEK 60-70 million. Due to the weaker sales development, the company will show an operating loss, which deviates from the previous guidance that the full-year 2017 would result in an operating profit.
Preliminary royalty reports from Precise Biometrics customers shows that royalty revenues in the third quarter of 2017 have not increase according to the company´s previous projections. Due to the strong competitive situation in the capacitive sensor market, which is dominated by a few major sensor manufacturers, the company's customers have won fewer projects and been assigned lower volumes than projected. Royalty revenues in the fourth quarter of 2017 will also be lower than previously projected due to the current sales development.
Royalty is reported by the company's customers after the end of the quarter and is difficult to predict as the royalty is based on actual sensor deliveries to smartphone manufacturers.
Information related to the third quarter of 2017 will be presented in Precise Biometrics interim report for January-September 2017, which will be published on November 14th.
This information is information that Precise Biometrics AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 19.00 CEST on October 26, 2017.
FOR FURTHER INFORMATION, PLEASE CONTACT
Håkan Persson, CEO, Precise Biometrics AB
Telefon; +46 46 31 11 05 or +46 734 35 11 05
ABOUT PRECISE BIOMETRICS
Precise Biometrics is a market leading supplier of solutions for convenient and secure authentication of people’s identity. We develop and sell fingerprint software and mobile smart card readers that provide the market’s best user experience and security. Our solutions are used hundreds of millions of times every day by people all over the world and are marketed together with strong business partners. For more information, please visit; http://precisebiometrics.com Follow us on LinkedIn and Twitter.