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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Idex Biometrics ASA    IDEX   NO0003070609

IDEX BIOMETRICS ASA

(IDEX)
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1.5450 NOK   -2.09%
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IDEX Biometrics : Second quarter and half-year 2019 results

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08/15/2019 | 01:01am EDT

Oslo, Norway, 15 August 2019: IDEX Biometrics (IDEX ASA), the leading provider of advanced fingerprint identification and authentication solutions reports second quarter and half-year 2019 results.

CEO Stan Swearingen commented: “The evolution of the biometric smart card market is undoubtedly gathering pace and IDEX made great progress in the quarter. Our pipeline of commercial opportunities continues to grow, and we expect sensor shipments to increase significantly. We have developed important relationships with new customers in the ecosystem and our biometric technology is proven, and ready for mass deployment. I am highly confident that our strategy and technology leadership will deliver considerable success for all our stakeholders.”

Highlights

Landmark first high-volume customer order for IDEX’s dual-interface sensors

    • Multi-year, multimillion-dollar commitment. Largest customer commitment to date

Further progress on developing the ecosystem in Asia to accelerate biometric payment card adoption

    • Collaboration with Tongxin Microelectronics Co., Ltd (“TMC”) in China to create a biometric smart card solution for end-customer implementation
    • IDEX and Chutian Dragon collaborate with point of sales terminal provider PAX Technology Limited to run real-life EMV compliant transactions of biometric smart cards using IDEX’s dual-interface sensor

Manufacturing milestones for biometric smart cards achieved

    • IDEX customer in Asia achieves cost-effective, mass production milestone for biometric smart cards
    • Partnerships with Sian and Silone Cardtech to accelerate high volume production of biometric smart cards
    • Low-cost, go-to-market solution achieved through pre-lam supply agreement with Feitian

Certification progress

    • Major global payment scheme in Asia begins its certification process for biometric smart cards containing IDEX’s dual-interface sensors
    • IDEX Biometrics’ dual-interface technology validated by independent labs to meet multiple global payment schemes’ certification requirements

Leadership position in biometric smart cards secured with grant of foundational patents for on-card enrollment

    • Comprehensive patents granted by the United States Patent and Trademark Office and IP Australia
    • Innovative remote enroll solution outperforms in certification tests

IDEX sensors enabling financial inclusion

    • Successful Edenred pilot using biometric smart cards, containing IDEX sensors, for state benefit programs


IDEX Biometrics’ CEO Stan Swearingen and CFO Derek D’Antilio will host a conference call today at 15.00 CET. Dial-in details are as follows:

Norway+47 2100 2610
United States+1 929 477 0324
International+44 (0)330 336 9126
  
Confirmation code:4828434

Please find the second quarter 2019 report attached.

For further information contact:
Stuart Hunt, Head of Investor Relations & Communications
+44 (0)1276 534 632

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX), is the leading provider of fingerprint identification technologies offering simple, secure and personal authentication for all. We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings with the touch of a finger. We invent, engineer and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast-growing multi-billion-unit opportunity.

For more information, visit www.idexbiometrics.com and follow @IDEXBiometrics

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachment

  • IDEX 2019 Q2 report

© OMX, source OMX

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Financials (NOK)
Sales 2019 52,4 M
EBIT 2019 -239 M
Net income 2019 -238 M
Finance 2019 95,5 M
Yield 2019 -
P/E ratio 2019 -3,85x
P/E ratio 2020 -7,51x
EV / Sales2019 16,2x
EV / Sales2020 2,77x
Capitalization 944 M
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Mean consensus BUY
Number of Analysts 1
Average target price 5,00  NOK
Last Close Price 1,58  NOK
Spread / Highest target 217%
Spread / Average Target 217%
Spread / Lowest Target 217%
EPS Revisions
Managers
NameTitle
Stanley A. Swearingen Chief Executive Officer
Morten Opstad Chairman
Henrik Knudtzon Chief Financial Officer
Anthony Sweeney Senior Vice President-Engineering
Fred Benkley Chief Technology Officer
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