Fingerprint Cards Rises After Sensor Order: Stockholm MoverToby Alder
Fingerprint Cards AB, a Swedish maker of biometric security solutions, rose to its highest level in three weeks in Stockholm trading after winning an order for its swipe sensor technology in Japan.
The shares increased as much as 2.2 kronor, or 6.6 percent, to 35.4 kronor, their steepest advance since April 10 and highest price since April 4. The stock, which has almost tripled in value so far this year, was trading up 4.8 percent at 34.8 kronor as of 12:28 p.m. local time, making Fingerprint Cards the 10th-biggest gainer among the 278 companies on the OMX Stockholm All-Share Index.
Fingerprint Cards, based in Gothenburg, Sweden, said it received an order for 100,000 units of its swipe sensor technology to cover the initial mass production for mobile phones that will be introduced in Japan in the second quarter of this year. The order will be delivered in early May. Fingerprint Cards today reported a 75 percent increase in first-quarter sales to 9.1 million kronor ($1.39 million).
“The timing of this initial mass production order is in line with our forecast and confirms that our launch in the Japanese mobile phone market is progressing according to plan,” Fingerprint Cards Chief Executive Officer Johan Carlstroem said in a statement today.
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.