Brief: Fingerprint Q1 Operating Result Swings To Loss SEK 31.7 Mln

Fingerprint Cards AB

22/04/2022 06:03

April 22 (Reuters) - Fingerprint Cards AB  FINGb.ST :
    * REG-FINGERPRINT CARDS AB: INTERIM REPORT JANUARY – MARCH
2022
    * Q1 REVENUES AMOUNTED TO SEK 300.2 M (354.7)
    * Q1 GROSS MARGIN WAS 20.4 PERCENT (28.8)
    * Q1 OPERATING RESULT WAS NEGATIVE SEK 31.7 M (POS: 1.7)
    * COVID-19-RELATED LOCKDOWNS IN CHINA HAD A DAMPENING EFFECT
ON
SALES DEVELOPMENT.
    * Q1 CASH FLOW FROM OPERATING ACTIVITIES WAS A NEGATIVE SEK
90.3 M
(POS: 36.3)
    * OUR ACCESS TO PRODUCTION CAPACITY WAS SATISFACTORY, BUT
COVID-19-RELATED RESTRICTIONS IMPLEMENTED IN CHINA AT END OF
QUARTER LED TO DISRUPTIONS IN OUR LOGISTICS CHAINS, WITH DELAYS
TO PRODUCT DELIVERIES AS A RESULT.
    * THIS HAD A DAMPENING EFFECT ON SALES DEVELOPMENT, SINCE
OUR
ACTIVITY LEVEL IS USUALLY HIGH AT END OF QUARTER.
    * LOCKDOWNS IN CHINA HAVE ALSO LED TO REDUCED SALES OF
SMARTPHONES
IN COUNTRY, AND IT IS CURRENTLY UNCLEAR HOW LONG RESTRICTIONS
WILL CONTINUE
    * HOWEVER, WE FORESEE A GENERALLY POSITIVE TREND IN DEMAND
FOR OUR
BIOMETRIC SOLUTIONS, WHICH IS REFLECTED IN OUR PREVIOUSLY
DISCLOSED SEK 1,600 - 2,000 MILLION SALES FORECAST FOR 2022.
    * FINGERPRINTS IS NOT DIRECTLY IMPACTED TO ANY SIGNIFICANT
EXTENT
- SINCE WE HAVE NO OPERATIONS IN RUSSIA OR UKRAINE

Source text for Eikon:  ID:nGNE45pS5s 
Further company coverage:  FINGb.ST 

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