Brief: Fingerprint Cards Cash Position Up By 20% Qoq

Fingerprint Cards AB

20/07/2023 06:07

July 20 (Reuters) - Fingerprint Cards AB  FINGb.ST :
    * THAT WE MADE SIGNIFICANT PROGRESS IN TERMS OF REDUCING OUR
EXCESS INVENTORY, WITH A POSITIVE EFFECT ON OUR CASH POSITION
    * CASH POSITIO GREW BY 20 PERCENT, TO SEK 252 M, SINCE END
OF Q1
    * WE ARE STILL FACING INTENSE PRICE COMPETITION WITHIN
MOBILE,
SINCE OUR INVENTORY LEVELS AND THOSE OF OTHER SENSOR SUPPLIERS
REMAIN TOO HIGH
    * ANTICIPATE A RETURN TO MORE NORMAL LEVELS DURING Q4, BUT
IT
COULD TAKE EVEN LONGER BEFORE ENTIRE INDUSTRY ACHIEVES BALANCE

Source text for Eikon:  ID:nGNE3pwvYg 
Further company coverage:  FINGb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))