Improved result in 2010 – now Precise Biometrics expands into mobile solutions

Precise Biometrics AB (publ), Corporate Identity No. 556545-6596
Year-end report for the period January – December 2010

The group's net sales for the financial year was SEK 44.9 million (68.7) and for the fourth quarter SEK 6.3 million (32.1).

The groups income for the year was SEK-14.6 million (-21.8) and for the fourth quarter SEK -4.4 million (2.8)

Earning per share for the year amounted to SEK -0.11 (-0.19) and for the fourth quarter SEK -0.03 (0.02).

Liquid assets at the end of the financial year was SEK 24.5 million (40.9).  

Important events during the year

Nigerian partner Interswitch is rolling out a state ID card with technology from Precise Biometrics. It's the first project of its kind in the world, as the state ID card also includes e-payment

Precise Biometric received two follow-up orders for hardware from an existing customer in the Middle East at a total value of SEK 6.7 million for a Match-on-Card project for government employees.

Precise Biometrics launched several products during the year.  Among them a tool for integration of standardized Match-on-Card – Precise BioMatch™ ISO Match-on-Card; an integration tool for standardized fingerprint recognition for both PC and Mac: Precise BioMatch™ ANSI 378 and a biometric logon solution for Microsoft's new operating system Windows 7, Precise BioMatch™ Logon for Windows 7

Precise Biometrics has during 2010 reorganized its sales organization due to increase of new business opportunities in combination with developing a more customer oriented organization. The new organization came into full effect January 1, 2011 – and consists of three business units IAM, Access Solutions and Mobile. Mobile is a brand new and strategically important business unit, from which Precise Biometrics will provide solutions for the SmartPhone and TabletPC markets.

Important events after the end of the year

Precise Biometrics releases a new family of fingerprint readers, Precise Sense™, targeted towards the banking and enterprise segments. The readers focus on cost-efficiency, user friendliness and a high degree of functionality options.