Precise Biometrics Cuts Losses in Q2 Results

Precise Biometrics Cuts Losses in Q2 ResultsPrecise Biometrics has posted its fiscal results for the second quarter of this year. The quarter saw the company improve both its net sales and its net loss.

The numbers illustrate much improved results compared against the first quarter of this year. Precise Biometrics’ consolidated net sales climbed up to SEK 10 million for Q2 against net sales of SEK 4.5 million for Q1; while its net loss dropped to SEK 7.9 million – a considerable decrease against the net loss of SEK 8.8 million for the first quarter of 2015. Overall, the first half of the year has seen Precise Biometrics rake in net sales of SEK 14.6 million, while posting on overall net loss of SEK 16.7 million.

Moving forward into Q3, the company has reason to expect further improvements in its performance. For example, it recently sealed a licensing deal with Taiwan-based ELAN Microelectronics, and it also received follow-up orders for its Tactivo Readers – iPhone and iPad casings allowing enabling smart card authentication on those devices – from the US Department of Defense and a British National Health System foundation trust. Meanwhile, its fingerprint scanning technology continues to find its way into smartphones via a partnership with sensor maker Fingerprint Cards.