LUND, SWEDEN--(Marketwire - February 05, 2009) -
Precise Biometrics AB (publ), Corporate Identity No. 556545-6596 Year-end report for the period January - December 2008
STRONG CASH FLOW AND POSITIVE MARKET TRENDS FOR 2009
* The group’s net revenue for the financial year amounted to SEK 45.9 million (24.8) and for the fourth quarter to SEK 11.5 million (8.1). * Losses for the financial year amounted to SEK -54.2 million (-35.3) and for the fourth quarter SEK -35.8 million (-9.8). The net result is impacted by SEK -29.7 million due to a write-down of the value of the engagement in the joint venture Smart Unicorn Solutions in the fourth quarter. Adjusted for the write-down the net result is SEK -24.5 million (-35.3) and for the fourth quarter SEK -6.1 million (-9.8). * Losses per share for the financial year amounted to SEK -0.54 (-0.35) and for the fourth quarter SEK -0.35 (-0.10). * Liquid assets at the end of the financial year amounted to SEK 11.3 million (32.5). Cash flow for the fourth quarter amounted to SEK 3.8 million. * Precise Biometrics delivers Match-on-Card to yet another national ID card program and receives an order for the first phase. The customer is a non-European country and the total value of the order has the potential to reach SEK 24 million during a four year period, according to the planned roll-out plan. * Precise Biometrics received a follow-up order from Swisscom at a value of SEK 2.4 million during the fourth quarter. The order is delivered before the end of 2008. The order is a follow-up order and comprises keyboards with fingerprint sensors and licenses for Precise BioMatch™. * Precise Biometrics is internationally recognized as a key player within the biometric industry when awarded “Global Frost & Sullivan award for Emerging Company of the year” due to the unique verification method, Precise Match-on-Card. The award is based on an analysis of the fingerprint recognition market. * Precise Biometrics has decided to write down the value of the engagement in the Chinese joint venture, Smart Unicorn Solutions which did not reach the expectations. Precise Biometrics will during 2009 continue to find opportunities that will generate business in China. For further information, please contact Thomas Marschall, President & CEO, Precise Biometrics AB. Telephone +46 46 31 11 10, or +46 734 35 11 10 E-mail thomas.marschall@precisebiometrics.com Patrik Norberg, CFO, Precise Biometrics AB Telephone +46 46 31 11 47, or +46 734 35 11 47 E-mail patrik.norberg@precisebiometrics.com
Precise Biometrics AB is an innovative company offering solutions for fingerprint recognition to prove people’s identities. With top-of-the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person. Our core product Precise BioMatch™ integrates into ID and bank card programs and secure chips, as well as systems for access control to buildings, computers and networks. We act on a global market and our technology is licensed to more than 80 million users all over the world. The Precise Biometrics group has subsidiaries in Sweden (with group headquarters in Lund), Great Britain, Hong Kong and USA, and a joint venture agreement in China. Precise Biometrics is listed on the small cap list at the Nordic Exchange in Sweden (symbol: PREC). For more information, please visit http://www.precisebiometrics.com/
Precise Biometrics’ Complete Year-end-Report for 2008: http://hugin.info/131387/R/1287623/289231.pdf
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