IDEX ASA: IDEX ASA interim report for the first half 2014

          IDEX ASA: IDEX ASA interim report for the first half 2014

IDEX ASA interim report for the first half 2014

Highlights
· First touch fingerprint sensor design win for a flagship smartphone
announced on 12 August 2014:
An Asian second-tier mobile OEM has selected IDEX's new mobile touch
fingerprint sensor for its smartphone flagship model
· Strategic partnership agreement with Cypress Semiconductor
Corporation:
Volume opportunities in multiple markets: smartphone, tablets, wearables,
identity cards and Internet of Things
· Secured volume order from world-class electronics manufacturer World
Wide Touch Technology:
Product line with IDEX sensors showcased at Mobile Asia Expo in Shanghai
· Collaboration with CrucialTec to accelerate and sample
first-generation small-area mobile touch sensor:
Responding to strong demand for higher-value touch sensors in flagship mobile
devices
· Demonstrated the first functional glass fingerprint sensor at the
Mobile World Congress in Barcelona:
Key step towards the ultimate sensor: integrated in the cover glass of mobile
devices
· Entered into licence agreement with BIO-key to deliver advanced
biometric software solutions for mobile market:
The next generation of secure identification solutions and algorithms for mass
market consumer devices
· Funds managed by global asset manager Invesco invested NOK 300
million in IDEX:
Landmark investment accelerating development of IDEX as a global leader in
fingerprint market
· Industry veterans joined IDEX's board and Strategy Advisory Council:
Significant industry knowhow advising on strategic trends in rapidly
developing fingerprint mass market

Outlook and key upcoming milestones
· Continue developing partnerships providing established high-volume
manufacturing and market channels for fingerprint sensors
· Expect mobile devices with first-generation IDEX sensors will be
launched later in 2014 or first quarter 2015 resulting from multiple customer
evaluations
· Expect initial revenues in the second half of 2014 including
deliveries to World Wide Touch Technology
· Developing second-generation two-part fingerprint touch sensors based
on flexible circuit technology to meet demand for lower cost and improved
biometric performance
· Planning to extend second-generation sensor family by implementation
in glass
· Market development of the mass volume biometric card business
leveraging initial orders and our unique flex sensor solution
· Continuously strengthening patent and IP position with significant
R&D investment
· Resource expansion and hiring key staff to accelerate business
execution
· Expecting to gain strong share of multibillion-dollar market for
fingerprint sensors

IDEX expects rapid mass-market adoption of fingerprint sensors on a wide range
of consumer devices resulting from the critical mass of smartphone adoption
and driven by supporting megatrends like mobile payments, password replacement
and increased security.

IDEX's strategy is to leverage its core technology across three mass markets;
mobile devices, ID & smart cards and devices being part of Internet of Things.

Following product sampling activity in the second quarter of this year, the
first generation of sensors have been selected for qualification by a number
of customers as part of the design in specific mobile device developments.
This may lead to IDEX sensors being inserted in these devices, if and when
these devices are launched by the OEM customers in the market.

As a result, IDEX expects mobile devices with IDEX sensors to be launched
later in 2014 or the first quarter of 2015 based on the current customer
plans. This means that IDEX continues to expect initial revenues to begin to
flow in the second half of 2014 both from these opportunities and the volume
order IDEX has already won from World Wide Touch Technologies.

The IDEX team is now rapidly commercialising the second-generation two-part
fingerprint touch sensors based on the company's patented flexible circuit
technology. The partnership with Cypress ensures our ability to deliver this
new family of sensors to first-tier handset manufacturers. This second
generation of IDEX sensors will deliver market disruptive cost reduc-tion,
dramatically improve form factor flexibility and contain accuracy and security
features which will address the explosive growth of mobile payment
transactions.

IDEX is already planning to extend this second-generation sensor family by
implementing sensors in glass. The company believes that this revolutionary
sensor implementation is unique to IDEX and will provide the ultimate solution
for integration of fingerprint recognition in the mobile device.

IDEX is solidly funded to exploit this multibillion-dollar market opportunity
in the near future leveraging our differentiated roadmap underpinned by a
strong patent position that is building customer traction.

The full report with interim financial statements are enclosed in pdf file or
use the link at the very end of this notice.

12 August 2014
IDEX ASA

Web:www.idex.no
Twitter:http://www.twitter.com/idexasa
LinkedIn:http://www.linkedin.com/company/idex-asa

Contacts:
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idex.no
Henrik Knudtzon CFO, +47 9302 2827, hk(at)idex.no

About IDEX
IDEX ASA specialises in fingerprint imaging and recognition technology. IDEX's
vision is to ensure individuals a safe, secure, and user-friendly use of
personal ID. IDEX has developed the award-winning SmartFinger technology
platform based on the company's core intellectual property, including the
patented fingerprint imaging principle, sensing scheme and chip design.
Combined with core software solutions for imaging and authentication, the
SmartFinger technology enables on-device enrollment, template storage and
verification within the very same module. SmartFinger solutions can be
seamlessly integrated into a variety of embedded applications such as mobile
phones, one-time password devices, Smartcards, payment and ID cards, payment
terminals, access control devices and biometric security and login tokens.

IDEX ASA (ticker IDEX) is a Norwegian public company listed at the Oslo Axess
marketplace on the Oslo Børs (Oslo stock exchange). For more information,
please visit www.idex.no or contact IDEX at mailbox@idex.no
--o--


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
IDEX Q2 2014

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

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: IDEX ASA via Globenewswire
HUG#1848407
 
Press spacebar to pause and continue. Press esc to stop.