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The turnover of the listed company Fingerprint Cards amounted to just over 430 million SEK, against a little more than 840 million in the same period last year. This shows the company's report for the third quarter.
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However, according to CEO Frederik Fredrikson, sales growth is still higher than that recorded earlier this year.
And at the same time, the company in crisis has recorded a slight profit. Admittedly, the operating profit of 7 million euros was well below that of last year, with more than 52 million euros. But compared to the negative figure of more than half a billion, the last quarter represents a clear improvement.
During the last quarter, the company implemented a cost reduction program of $ 350 million per year and an additional 179 employees were notified.
"We continue to focus on reducing our costs and increasing the profitability of our product to cope with the pressure on capacitive sensors by the price," said Christian Fredrikson.
The positive turnaround led to a nearly seven percent increase in the share of fingerprint cards in initial Stockholm Stock Exchange transactions and transactions for just under ten crowns.
The improvement of fingerprint cards is explained by the efficiency of the company and the integration of new product versions of its sensors.
– In the past, we had eight, nine versions, but now we have consolidated into three versions. It's better for us and better for customers with larger volumes and fewer products, "says Christian Fredrikson.
The goal is to continue to dominate the world, although Christian Fredrikson notes that the market as a whole could continue to decline due to continued pressure on prices. The decline in the prices of capacitive sensors will exceed 30% in 2018 and the pressure on prices will continue in 2019, but at a slower pace, notes the company.
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