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Precise Biometrics — Interim / Quarterly Report 2011
Jul 19, 2011
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Interim / Quarterly Report
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STRONG MOMENTUM IN ALL BUSINESS AREAS
Precise Biometrics AB (publ), Corporate Identity No. 556545-6596 Interim Report for the period January – June 2011
- The group's net sales for the interim period amounted to SEK 9.4 million (26.4) and for the second quarter SEK 5.9 million (7.1).
- The group's income for the interim period amounted to SEK ‐18.6 million (‐5.1) and for the second quarter SEK ‐8.9 million (‐4.7).
- Earnings per share for the interim period amounted to SEK ‐0.13 (‐0.04) and for the second quarter SEK ‐0.06 (‐0.04).
- Available cash at the end of the interim period amounted to SEK 49.6 million (34.8). Available cash includes SEK 48.6 million from the share issue (after related costs).
Important events during the quarter
- Precise Biometrics' rights issue, with preferential rights for Precise Biometrics' shareholders, was oversubscribed. The rights issue was subscribed to 118.9% and is carried out as a part of the company's strategic plan – Plan 2015.
- The company was top ranked in the MINEX II test, the most important US government test for standardized Match‐on‐Card. Since new directives states that all US federal government agencies must implement PIV (Personal Identification Verification) and as PIV will include Match‐on‐Card, Precise Biometrics will be very well positioned on the US federal government market.
- Precise Biometrics launched a new software product, Precise BioMatch™ Embedded, which enables hardware companies to quickly integrate fingerprint verification in their products.
For further information
Thomas Marschall, President and CEO, Precise Biometrics AB Tel. +46 (0)46 31 11 10 or +46 (0)734 35 11 10 E-mail [email protected]
Patrik Norberg, CFO, Precise Biometrics AB Tel. +46 46 31 11 47 or +46 734 35 11 47 E-mail [email protected]
Precise Biometrics is a market-leading provider of solutions for fingerprint recognition to prove people's identities. With top-of-the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person.
Its core product, Precise Match-on-Card™, adds value to ID, SIM, enterprise and bank cards as well as systems for access control to buildings, computers and networks. Precise Biometrics serves business and government organizations throughout the world and its technology is licensed to close to 100 million users.
For more information, please visit www.precisebiometrics.com
Strong momentum in all business areas Interview with the President & CEO, Thomas Marschall
How would you sum up the first half of this year?
Precise Biometrics has made several important advances during this period. What stands out most are the very strong results for our Match‐ on‐Card technology in the US government agency test, MINEX II. This achievement enables great sales opportunities in the US and global market. We have also introduced our Plan 2015, a strategic platform for the development of the company up to 2015. The oversubscription of our new issue of shares in May was also important, and enables us to take strong initiatives to achieve the objectives in our ambitious business plan.
Nevertheless, I can also confirm that sales and profits remained unsatisfactory and did not reach up to our expectations. This was mainly
a result of time lags in the US following a significant delay in the adoption of the US budget to April. Even though the budget has now been approved there is still some uncertainty concerning the allocation of funds to different areas, which has delayed expected orders from US government agencies. We have no reason not to believe that security remains a top priority for the US administration, as their strong focus remains on Cyber Security and aims to reinforce protection from cyber attacks. This continues to give Precise Biometrics a strong growth potential in the US.
How is the market developing?
Three months after the publication of the positive results from MINEX II we are seeing major international interest in our world‐leading Match‐on‐Card technology. It has not only been coming from public ID programs, we are also encountering much greater interest from several of the leading companies in the markets for smart cards and chips. We are expecting to specify and publish new partnerships with several of these players in the coming six months.
We are also expecting increased sales to the US in the business area IAM as government agencies recover from the delays in the budget process.
What does the successful issue of the new shares actually mean?
Our new issue of shares was oversubscribed, which demonstrates that our future plans according to our strategic plan, Plan 2015, have achieved great support from our shareholders. The new issue of capital enables strong initiatives in all the business areas – IAM, Access Solutions and Mobile – and is one of the prerequisites for us to achieve the objectives in Plan 2015. The main implication is the ability to carry through greater and necessary investments in sales and marketing and in the product development of biometric solutions for Smartphones and TabletPCs.
We have recruited new staff within the framework of our new organization and Plan 2015, where the main emphasis has been on sales and marketing in the US, but we will also be looking for additional recruits.
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Our investments in Mobile are proceeding according to plan and we expect to be able to launch new products and solutions for the Smartphone market at the end of the year.
What can you say about your future development?
As I have said before, I am expecting 2011 to be the most successful year ever for Precise Biometrics. There are three main reasons for my confidence in this.
Right from the very start, Precise Biometrics has been involved in creating a strong base for our Match‐on‐Card technology in the international market. We are now facing what is a manifest interest in the technology as a standard component from several of the major players in the smart card market, not least after the top result in the US government agency test MINEX ll.
It is important to reach profitability and with our current level of investments we are expecting the business area IAM to reach profitability in 2011 It is also possible that Access Solutions will reach profitability this year.
We have been working for a long time on the development of our technology to enable it to meet the new demands in other major markets over and above the market for national ID cards. With our business area Mobile we have now identified the mobile market as a major and well‐developed area that offers significant potential for our biometric solutions. We are initially focusing on the Apple platform, including solutions for iPhone and iPad, but our goal is to supply products and solutions for all the larger Smartphone platforms in the market.
These are all important milestones that we have been moving towards for a long time, and now that more pieces of Precise Biometrics' future business model and platform are starting to fall into place I'm still confident that this year will be a very successful year for Precise Biometrics.
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Lund, July 19, 2011
Sales and result
Interim period; January to June 2011
Sales for the interim period amounted to SEK 9.4 million (26.4). The gross profit was SEK 6.2 million (16.4). The gross margin amounted to 66% compared to 62 % during the same period the previous year. The group's net loss for the interim period amounted to SEK ‐18.6 million (‐5.1). Operating expenses (see Key Figures for definition) for the interim period amounted to SEK 24.8 million (21.4). Losses per share (average number of shares) for the interim period amounted to SEK ‐0.13 (‐0.04).
Second quarter; April to June 2011
Sales for the second quarter were SEK 5.9 million (7.1). The gross margin amounted to 60% (69%). The Group's net loss for the second quarter amounted to SEK ‐8.9 million (‐4.7). Operating costs (see Key Figures for definition) amounted to SEK 12.4 million (9.6). Losses per share (average number of shares) for the second quarter amounted to SEK ‐0.06 (‐0.04).
Financing and liquidity
Equity amounted as of June 30, 2011 to SEK 61.5 million (39.8) and equity/share to SEK 0.33 (0.29).
Precise Biometrics AB completed, during the quarter, a share issue with preferential rights which has supplied the Company with SEK 48.6 million after issue costs. The share issue is carried out as a part of the Company's business plan – Plan 2015 – which mainly includes further investments in sales, marketing and product development targeted towards biometrics solutions for the SmartPhone and Tablet PC markets. The guaranteed share issue was subscribed to 118.9%.
Cash flow from current operations amounted to SEK ‐7.8 million (0.2). Available cash at the end of the interim period amounted to SEK 49.6 million (34.8).
Market and sales
The main part of Precise Biometrics' sales during the first six months of 2011 consisted of a mix of fingerprint readers and licenses to existing customers in the business areas IAM and Access Solutions.
The company continues to build up and reinforce its organization, following the new organizational structure that came into force in January 2011 to support Plan 2015. Main focus lies on recruiting marketing and sales competence in our largest market ‐ the US. Some important recruitments have already been done during the first half of this year.
Sales during the second quarter consisted of both licenses and sales of hardware. Within the business area IAM the main part of sales consisted of sales of fingerprint readers to customers in the Middle East. Sales to the US have, however, been limited during the year. This is a direct consequence of the failure of expected orders from US government agencies to materialize because of the delayed US budget process. This in turn resulted in delays in the allocation of budgeted funds.
Within the business area Access Solutions the main part of sales consisted of follow‐up orders from the largest customer in this area – Scandinavia's largest budget gym chain.
Significant investments have been made according to Plan 2015 in the business area Mobile. The focus here is on product development for the Smartphone and TabletPCs markets, initially the Apple platform.
Reinforcements in the sales and marketing organization, along with targeted investments in all three business areas, follow the strategic platform the company has established for its development up to year 2015 – Plan 2015.
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Lund, July 19, 2011
Parent company
Parent company sales for the interim period amounted to SEK 6.4 million (22.5). Operating loss before tax for the interim period amounted to SEK ‐21.3 million (‐3.1).
At the end of the interim period 20 persons were employed in the parent company.
Available cash at the end of the second quarter amounted to SEK 49.1 million (32.3). Available cash includes SEK 48.6 million from the share issue (after related costs).
Organization and staff
The parent company of Precise Biometrics has its head office in Lund, Sweden. The organization also consists of the subsidiaries Precise Biometrics Inc. in Washington DC, USA, and Precise Biometrics Solutions AB with office in Karlstad. The organization also includes the dormant company Precise Biometrics Services AB.
As of June 30, 2011 the group had 32 (33) employees, 29 in Sweden and 3 in the US. Of these employees, 23 (23) were men and 9 (10) were women.
Investments in tangible fixed assets
During the interim period, the group invested SEK 0.06 million (0.04) in tangible fixed assets.
In the second quarter the group invested SEK 0.04 million (0) in tangible fixed assets.
Capitalization and depreciation of development work
Development work costs of SEK 4.5 million (1.5) were capitalized during the interim period with main impact from new investments within the Mobile segment. Depreciation of capitalized costs for development work amounted to SEK 0.5 million (0.8) during the interim period.
During the second quarter development costs of SEK 2.8 million (0.9) were capitalized. Depreciation of capitalized development costs amounted to SEK 0.3 million (0.4) during the quarter.
Patents
The patents portfolio has been successively improved since 2001 and at the end of the second quarter in 2011 included 82 registered patents and 26 applications for patents in 19 different product families. Precise Biometrics has 11 different patent families just for the Match‐on‐Card technology.
Annual General Meeting
Qrecise Biometrics' Annual General Meeting was held on April 27 2011 at the company's headquarters in Lund.
The General Meeting approved the Board of Directors decision, in regards to the new issue of shares with preferred rights for the existing shareholders, to increase the company's registered share capital by a maximum of SEK 21,593,728 through issuance of a maximum of 53,984,320 new shares.
The General Meeting approved The Board of Directors proposal for amendments of the articles of association in regards to the company's share capital limits and minimum and maximum number of shares.
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The meeting also resolved to adopt the board of directors' recommendation to implement an incentive scheme for all employees in the group through the issue of a maximum of 7.1 million warrants with the right to subscribe to an equivalent number of shares in the Company in the period from January 1 to June 30, 2014. The price of the new issue will be SEK 2.90.
In accordance with the recommendations of the board of directors, the General Meeting resolved to authorize a new issue to a maximum of SEK 5.4 million, or 13.5 million shares. The purpose of the authorization was to enable the company to effect payment of company acquisitions by the company's own shares and/or convertibles.
Marc Chatel, Torbjörn Clementz, Eva Maria Matell, Lisa Thorsted and Lena Widin Klasén were re‐ elected as members of the board and Lisa Thorsted was re‐elected as chairman of the Board.
For more details regarding the above resolutions taken at the General Meeting see Precise Biometrics website under Corporate Governance.
Shares
The company's share is listed on the Small Cap list of the Nasdaq OMX Nordic.
The total number of registered shares at the end of the quarter was 188,945,120. During the interim period the average turnover per day was SEK 1,838 thousand and the list price ranged from SEK 1.03 to 2.48. During the second quarter the average turnover per day was SEK 2,338 thousand and the list price ranged from SEK 1.03 to 2.09.
The main shareholders as of June 30, 2011
| Name | Percentage of share capital | No. of shares |
|---|---|---|
| Avanza Pension Försäkring | 7.2% | 13,538,043 |
| Swedbank Robur fonder | 4.5% | 8,442,304 |
| Nordnet Pensionsförsäkring | 1.7% | 3,203,421 |
| HJ Byggkonsulter AB | 1.7% | 3,198,249 |
| Source: SIS Ägarservice |
Risk factors
Precise Biometrics is exposed to both commercial and financial risks, which to a large extent lie outside the reach and influence of the company. For a full account of identified risks, please refer to the Annual Report for 2010, which was submitted April 4, 2011. No further essential risks or uncertainties have arisen after the submission of the Annual Report.
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Future report dates
Interim Report Q3 October 25, 2011 Year‐end Report February 3, 2012
Accounting principles
This interim report has been prepared in accordance with IAS 34, Interim reporting and the Swedish Company Accounts Act.
New IFRS, additions to IAS and IFRIC interpretations taking effect January 1, 2010, will not have a material effect on the financial statements.
For information on the applied accounting principles please refer to the Annual Report for 2010.
This quarterly report has not been subjected to review by the Company's auditors.
Lund, July 18, 2011
The Board of Directors and the President certify that the interim report gives a true and fair overview of the parent companyʹs and groupʹs operations, their financial position and results of operations, and describes significant risks and uncertainties facing the parent company and other companies in the group.
The board of directors
Lisa Thorsted, chairman
Marc Chatel Lena Widin Klasén Eva Maria Matell Torbjörn Clementz
Thomas Marschall, President and CEO
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Lund, July 19, 2011
Income statement, Group
| (Figures in thousands SEK) | Q2 | Q2 | Q1-Q2 | Q1-Q2 | Full year |
|---|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | 2010 | |
| Net sales | 5,889 | 7,149 | 9,443 | 26,429 | 44,944 |
| Cost of goods sold | -2,409 | -2,238 | -3,225 | -10,005 | -17,425 |
| Gross profit/loss | 3,480 | 4,911 | 6,218 | 16,424 | 27,519 |
| Selling expenses | -5,223 | -5,050 | -8,809 | -9,236 | -18,293 |
| Administrative expenses | -3,144 | -2,266 | -6,277 | -5,267 | -10,012 |
| R&D costs | -3,846 | -3,995 | -8,226 | -8,665 | -12,526 |
| Other operating income and changes in value | -170 | 1,668 | -1,515 | 1,780 | -1,185 |
| -12,383 | -9,643 | -24,827 | -21,388 | -42,016 | |
| Operating result | -8,903 | -4,732 | -18,609 | -4,964 | -14,497 |
| Financial costs | 50 | -16 | 27 | -114 | -135 |
| Result after financial items | -8,853 | -4,748 | -18,582 | -5,078 | -14,632 |
| Tax | - | - | - | - | -16 |
| Result for the period | -8,853 | -4,748 | -18,582 | -5,078 | -14,648 |
| Result attributable to: | |||||
| Owners of the parent | -8,853 | -4,748 | -18,582 | -5,078 | -14,648 |
| Results per share, SEK | -0.06 | -0.04 | -0.13 | -0.04 | -0.11 |
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Lund, July 19, 2011
Comprehensive income, Group (according to IAS 1)
| (Figures in thousands SEK) | |||||
|---|---|---|---|---|---|
| Q1 | Q1 | Q1-Q2 | Q1-Q2 | Full year | |
| 2011 | 2010 | 2011 | 2010 | 2010 | |
| Change in accumulated exchange rate differences Reverse of accumulated exchange rate differences in |
8 | -584 | 226 | -580 | 334 |
| disposed subsidiary | - | - | - | - | 150 |
| Comprehensive income for the period, net of tax | 8 | -584 | 226 | -580 | 484 |
| Profit/loss for the period | -8,853 | -4,748 | -18,582 | -5,078 | -14,648 |
| Total comprehensive income for the period | -8,845 | -5,332 | -18,356 | -5,658 | -14,164 |
| Total comprehensive income attributable to: | |||||
| Owners of the parent | -8,845 | -5,332 | -18,356 | -5,658 | -14,164 |
Balance Sheet, Group
| (Figures in thousands SEK) | ||
|---|---|---|
| 6/30/2011 | 6/30/2010 12/31/2010 | ||
|---|---|---|---|
| Assets | |||
| Intangible fixed assets | 10,665 | 4,562 | 6,664 |
| Tangible fixed assets | 583 | 701 | 704 |
| Inventories | 9,250 | 4,578 | 8,402 |
| Accounts receivable - trade | 6,479 | 6,909 | 4,968 |
| Other current receivables | 4,045 | 4,699 | 2,809 |
| Cash and bank balances | 49,555 | 34,780 | 24,544 |
| Total assets | 80,577 | 56,229 | 48,091 |
| Equity and liabilities | |||
| Equity | 61,482 | 39,750 | 31,244 |
| Current liabilities | 19,095 | 16,479 | 16,847 |
| Total equity and liabilities | 80,577 | 56,229 | 48,091 |
| Pledged assets | 26,400 | 26,400 | 26,400 |
| Contingent liabilities | - | - | - |
Cash Flow Statement, Group
(Figures in thousands SEK)
| Q1 | Q1 | Q1-Q2 | Q1-Q2 | Full year | |
|---|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | 2010 | |
| Cash flow from operating activities | |||||
| before changes in working capital | -8,696 | -5,026 | -18,059 | -5,076 | -12,919 |
| Cash flow from changes in working capital | 852 | 5,177 | -955 | 528 | 2,781 |
| Cash flow from operating activities | -7,844 | 151 | -19,014 | -4,548 | -10,138 |
| Cash flow from investing activities | -2,809 | -868 | -4,569 | -1,556 | -4,710 |
| Cash flow from financing activities | 48,594 | - | 48,594 | - | -1,492 |
| Cash flow for the period | 37,941 | -717 | 25,011 | -6,104 | -16,340 |
| Liquid funds at the beginning of the period | 11,614 | 35,497 | 24,544 | 40,884 | 40,884 |
| Liquid funds at the end of the period | 49,555 | 34,780 | 49,555 | 34,780 | 24,544 |
Key Figures, Group
| 6/30/2011 | 6/30/2010 12/31/2010 | ||
|---|---|---|---|
| Working capital (thousands SEK) | 50,234 | 34,487 | 23,876 |
| Liquid ratio | 315% | 281% | 192% |
| Equity/assets ratio | 76% | 71% | 65% |
| Return on average equity | - | - | neg |
| Capital employed (thousands SEK) | 62,600 | 41,149 | 32,494 |
| Return on capital employed | - | - | neg |
| Profit/loss per share (SEK) | -0.06 | -0.04 | -0.11 |
| EBITDA (thousands SEK) | -17,921 | -4,001 | -12,485 |
| Equity per share (SEK) | 0.33 | 0.29 | 0.23 |
| Number of shares | 188,945,120 | 134,960,800 | 134,960,800 |
| Number of employees at the end of the period | 32 | 33 | 34 |
| Average number of employees during the period | 33 | 34 | 34 |
Definitions - Key Figures
Working capital: Current assets less current liabilities
Liquid ratio: Current assets less inventories divided by current liabilities
Equity/assets ratio: Equity as of the balance sheet date divided by total assets as of the balance sheet date
Return on equity: Profit/loss for the period divided by average equity
Capital employed: Balance sheet total minus non-interest-bearing liabilities and provisions
Return on capital employed: Profit/loss after financial items plus financial expenses divided by the average capital employed Profit/loss per share: Profit/loss after tax divided by the average number of shares. The options are not included in the calculation due to calculation of potential shares would result in an improvement in loss per share which is not permitted according to IAS 33
EBITDA: Profit/loss before net financial items, depreciations, write-downs and tax
Equity per share: Equity at the end of the period divided by the number of shares at the end of the period Quarterly earnings ratios are not disclosed
Operating costs (as described in Sales and result): Operating costs excluding costs for products sold, participations in associated companies and goodwill write-down, but including depreciation and write-downs and after capitalization of costs for development work
Changes in equity, Group
(Figures in thousands SEK)
| Capital stock |
Other paid in capital |
Reserves Balanced profit/ year's profit |
Total equity |
||
|---|---|---|---|---|---|
| Opening balance as at January 1, 2010 | 53,984 | 537,214 | 155 | -545,945 | 45,408 |
| Comprehensive income for the period | - | - | -580 | -5,078 | -5,658 |
| Closing balance as at June 30, 2010 | 53,984 | 537,214 | -425 | -551,023 | 39,750 |
| Opening balance as at January 1, 2011 | 53,984 | 537,214 | 639 | -560,593 | 31,244 |
| Comprehensive income for the period | - | - | 226 | -18,582 | -18,356 |
| Transactions with the shareholders | |||||
| New share issue1) | 21,594 | 27,000 | - | - | 48,594 |
| Closing balance as at June 30, 2011 | 75,578 | 564,214 | 865 | -579,175 | 61,482 |
1) New share issue totaling 53 984 320 new shares at a rate of SEK 1.00 with deductions for issue costs SEK 5,391 thousand.
Turnover and profitability by segments Q2 20111) (Figures in thousands SEK)
| IAM | ACCESS SOLUTIONS | MOBILE | |||||
|---|---|---|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | ||
| Net sales | 4,780 | 6,415 | 1,110 | 734 | - | - | |
| Expenses2) | -7,917 | -13,347 | -1,561 | -562 | -7,571 | - | |
| Result | -3,137 | -6,932 | -451 | 172 | -7,571 | - |
| TOTAL | ||||
|---|---|---|---|---|
| 2011 | 2010 | |||
| Net sales | 5,890 | 7,149 | ||
| Expenses2) | -17,049 | -13,909 | ||
| Result | -11,159 | -6,760 |
Turnover and profitability by segments Q1-Q2 20111)
(Figures in thousands SEK)
| IAM | ACCESS SOLUTIONS | MOBILE | |||||
|---|---|---|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | ||
| Net sales | 6,634 | 24,510 | 2,809 | 1,919 | 0 | - | |
| Expenses2) | -13,609 | -31,555 | -3,319 | -2,137 | -13,461 | - | |
| Result | -6,975 | -7,045 | -510 | -218 | -13,461 | - |
| TOTAL | ||||
|---|---|---|---|---|
| 2011 | 2010 | |||
| Net sales | 9,443 | 26,429 | ||
| Expenses2) | -30,389 | -33,692 | ||
| Result | -20,946 | -7,263 |
1) From January 2011 a new sales organization came into effect. The 2010 figures are restated accordingly. 2) The above expenses in the segments include Cost of goods sold as well as direct and share of indirect operation expenses.
Direct operation expenses also include capitalized development work allocated per segment.
Income statement, Parent company
(Figures in thousands SEK)
| Q1-Q2 | Q1-Q2 | Full year | ||
|---|---|---|---|---|
| 2011 | 2010 | 2010 | ||
| Net sales | 6,414 | 22,544 | 38,825 | |
| Cost of goods sold | -7,468 | -11,891 | -21,957 | |
| Gross profit/loss | -1,054 | 10,653 | 16,868 | |
| Selling expenses | -6,457 | -7,353 | -14,409 | |
| Administrative expenses | -5,822 | -4,820 | -9,012 | |
| R&D costs | -4,755 | -5,776 | -7,232 | |
| Other operating income and changes in value | -3,478 | 4,020 | -2,831 | |
| -20,512 | -13,929 | -33,484 | ||
| Operating result | -21,566 | -3,276 | -16,616 | |
| Financial costs1) | 264 | 136 | 349 | |
| Result after financial items | -21,302 | -3,140 | -16,267 | |
| Tax | - | - | - | |
| Result for the period | -21,302 | -3,140 | -16,267 |
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Lund, July 19, 2011
Balance Sheet, Parent company
| (Figures in thousands SEK) | |||
|---|---|---|---|
| 6/30/2011 | 6/30/2010 | 12/31/2010 | |
| Assets | |||
| Intangible fixed assets | 10,564 | 4,430 | 6,548 |
| Tangible fixed assets | 306 | 355 | 381 |
| Participations in group companies | 1,058 | 1,058 | 1,058 |
| Inventories | 9,250 | 4,578 | 8,402 |
| Accounts receivable - trade | 2,431 | 1,742 | 2,810 |
| Other current receivables | 30,498 | 41,857 | 33,403 |
| Cash and bank balances | 49,050 | 32,331 | 21,129 |
| Total assets | 103,157 | 86,351 | 73,731 |
| Equity and liabilities | |||
| Equity | 90,378 | 76,623 | 63,086 |
| Other provisions | 107 | 203 | 162 |
| Current liabilities | 12,672 | 9,525 | 10,483 |
| Total equity and liabilities | 103,157 | 86,351 | 73,731 |
| Pledged assets | 24,000 | 24,000 | 24,000 |
| Contingent liabilities | 2,000 | 2,000 | 2,000 |
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Lund, July 19, 2011
Telephone conference
On the occasion of today's Interim Report we have the pleasure to invite investors and journalists to the following informative meeting during the day
- The conference starts at 11:00 (CET)
- To participate, please call +46 (0)8 50559877
An operator will note your name and connect you to the conference. She/he will also provide you with information about what to do if you have any questions.
The presentation will be held in English but afterwards there will be an opportunity to ask questions in Swedish.
Participating on behalf of Precise Biometrics
- Thomas Marschall, President and CEO
- Patrik Norberg, CFO
A recording from the conference will be available for three days after the telephone meeting. To listen to the conference afterwards dial +46 (0)8 506 269 49. When asked to state a reference number please dial 260207 and finish with (#).
Please visit www.precisebiometrics.com/presentations where a presentation can be downloaded.
For further information
Thomas Marschall, President and CEO, Precise Biometrics Tel. +46 (0)46 31 11 10 or +46 (0)734 35 11 10 E-mail [email protected]
Patrik Norberg, CFO, Precise Biometrics AB Tel. +46 46 31 11 47 or +46 734 35 11 47 E-mail [email protected]
Precise Biometrics AB (Headquarters) Box 798 SE-220 07 Lund Tel.: +46 (0)46 31 11 00 Fax: +46 (0)46 31 11 01 E-mail: [email protected]
Precise Biometrics is a market-leading provider of solutions for fingerprint recognition to prove people's identities. With top-of the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person.
Its core product, Precise Match-on-Card™, adds value to ID, SIM, enterprise and bank cards as well as systems for access control to buildings, computers and networks. Precise Biometrics serves business and government organizations throughout the world and its technology is licensed to close to 100 million users.
For more information, please visit www.precisebiometrics.com