Fingerprint Cards Soars in Fifth Day of Gains: Stockholm Mover
Fingerprint Cards AB (FINGB), a Swedish maker of biometric security solutions, rose for a fifth day, nearing its highest level in 12 years after winning an order in China.
The shares rose as much as 6.6 percent to 37.3 kronor and were trading 5.7 percent higher at 37 kronor as of 9:28 a.m. in Stockholm. Shares have soared almost 200 percent so far this year, extending last year’s 33 percent climb.
Fingerprint Cards, based in Gothenburg, Sweden, said a Chinese smartphone maker would be using its technology in a new phone that uses Google Inc. (GOOG)’s Android software and is scheduled to be sold in China and internationally in the second half of this year.
“China is the world’s largest market for smartphones, with a forecast sales volume of 430 million units in 2013,” said Chief Executive Officer Johan Carlstroem in a statement today. “We expect a number of additional design wins in the booming China market during the months ahead.”
The Swedish company generated 99 percent of its sales in Asia last year, according to data compiled by Bloomberg. Fingerprint will open a new sales and support office in Tokyo to support demand, it said on Jan. 7.
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