NEXT Issues Q4, 2015 Results, Keeps Aim on Smart Cards

NEXT Issues Q4, 2015 Results, Maintains Smart Card FocusNEXT Biometrics has announced its Q4 and year-end results for 2015.

Operating revenue for the quarter came in at NOK 1.7 million, compared to NOK 4.4 million in Q4 of 2014; and for the full year it reached NOK 4.6 million, against NOK 6.3 million in 2014. The company saw a net loss of NOK 47.5 million for the quarter, compared to a net loss of NOK 33.4 million in Q4 of the previous year; and for the year-end 2015 saw a net loss of NOK 121.5 million, against NOK 79.8 million for 2014.

In a statement announcing the results, the company pointed to currency effects and high production costs, several of which were “one-offs, or temporary”. Despite these setbacks, CEO Tore Etholm-Idsøe remained upbeat, placing a strong focus on the company’s work in smart cards. He asserted that over 2015 “and continuing into 2016 NEXT has focused large parts of the R&D resources to Smart Card activities, and NEXT sees significant opportunities within several of the major volume Smart Card market segments.”

NEXT began its shift in focus to smart cards at the end of last year, with Etholm-Idsøe telling FindBiometrics in an interview that his company is “perfectly positioned to create flexible sensors that truly meet all the requirements of ISO standard smart cards.” It’s an area where other biometrics companies are starting to see major opportunities as well, and could prove lucrative if Etholm-Idsøe is right.

 

(Originally posted on FindBiomerics)