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Thin Film Electronics ASA : Thinfilm's Financial Report Fourth Quarter and Preliminary Results for 2012



  Thin Film Electronics ASA : Thinfilm's Financial Report Fourth Quarter and
                         Preliminary Results for 2012

Enclosed in pdf file is the interim report for the fourth quarter and
preliminary results 2012 for the Thin Film Electronics ASA group. See below
for the business review section of the report.

For more information contact:
Torgrim Takle, CFO: +47 95 14 07 82 / tt@thinfilm.no

28 February 2013
Thin Film Electronics ASA

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

 

BUSINESS REVIEW
The fourth quarter of 2012 marked a strong finish to a significant year for
Thinfilm. A major industry milestone was attained by Thinfilm's demonstration
of the world's first printed integrated electronic system and the company
accelerated its commercial momentum by securing an agreement for supply of
components to one of the largest toy makers in the world.  

Highlights:

  * Successfully demonstrated first printed integrated system with rewritable
    memory: Completion of printed temperature sensor prototype marked the
    achievement of a major technical milestone and broadened customer interest
    to new markets and applications.
  * Secured commercial agreement in toys & games: Entered into commercial
    agreement with Hasbro, Inc. ("Hasbro"), a Fortune 600 toy manufacturer,
    for supply of printed electronics components.
  * International awards and recognition: In October, Thinfilm won the World
    Technology Award in Materials and placed as runner-up in Wall Street
    Journal's 2012 Innovation Award. In the same month, named by GigaOm as one
    of the most innovative companies in mobile. 
  * Complete manufacturing supply chain established: Increased commercial
    delivery capacity substantially by establishing high-volume processes for
    conversion and labeling of printed memory tags (subsequent manufacturing
    steps to printing and testing).   

The fourth quarter of 2012 marked a strong finish to a significant year for
Thinfilm in commercializing printed memory and integrated systems; Major
technical achievements and continued strong commercial momentum.

In December 2012, Thinfilm demonstrated the world's first printed integrated
electronic system with rewritable memory. The temperature sensor prototype
combined printed memory, sensor and logic to detect when critical temperature
thresholds have been exceeded and then recorded the data digitally for later
retrieval and display. Such low-cost temperature tags can deliver item-level
tracking of quality data for goods such as pharmaceuticals and perishable
foods. Raghu Das, head of IDTechEx, a leading consultancy in printed
electronics, cited the Thinfilm temperature sensor as "a significant
commercial breakthrough for the printed electronics industry." The
proof-of-concept demonstration triggered substantial interest across a range
of industries.  "The prototype was developed according to the original plan
and delivered on time. This achievement demonstrates the strength and
competence of our technical staff and partner ecosystem, and validates our
product roadmap," says Davor Sutija, Thinfilm CEO. 

Also in December 2012, Thinfilm announced a commercial agreement with Hasbro,
one of the largest toy makers in the world, for supply of printed electronics
components. "This commercial agreement underscores the attractiveness and
competitiveness of Thinfilm's technology in cost-focused industries such as
toys and games," says Jennifer Ernst, EVP Global Sales and Business
Development.  The agreement with Hasbro also includes a limited exclusive
consulting relationship.

In October, Thinfilm won the World Technology Award in Materials and placed as
runner-up in Wall Street Journal's 2012 Innovation Award. In the same month,
the company was named by GigaOm as one of the 15 companies most likely to
radically transform mobile in the years ahead.

During fourth quarter of 2012, Thinfilm established a complete manufacturing
supply chain for its stand-alone printed memory tags. By adding high-volume
processes for conversion and labeling to the already existing and preceding
manufacturing steps (printing and testing), Thinfilm increased its commercial
delivery capacity for printed memories substantially. "This extension of our
supply chain is an important accomplishment. It reduces cost and risk of large
memory deliveries to prospective customers, and it will accelerate time to
market for the printed integrated systems and smart tags that Thinfilm
currently is developing," says Torgrim Takle, Thinfilm CFO.

Thinfilm continued to strengthen its internal capabilities during the fourth
quarter of 2012. Thinfilm increased staff by approximately 20% during the
quarter (mainly technical staff to accelerate development of printed
integrated systems), and expanded the laboratory facilities in Sweden,
including commissioning of a 1000m² class 100 cleanroom for high-definition
printing. Thinfilm is in the process of provisioning pilot scale gravure
printing equipment with capacity to handle initial commercial orders.

Thinfilm_Q4_2012_Interim_report

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Thin Film Electronics ASA via Thomson Reuters ONE
HUG#1682207
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