LUND, Sweden, Aug. 15, 2002 (PRIMEZONE) -- Precise Biometrics AB:
-- The Group's net turnover during the interim period was SEK 7.3 million (5.0). -- Profit/loss for the interim period was SEK 36.3 million (35.2). -- Liquid assets at the end of the interim period was SEK 30.6 million (94.5). -- Precise Biometrics signed an agreement with the Scandinavian IT Group to offer joint security solutions to the airline industry. Within the framework of the cooperation, a customer agreement was signed with SAS Airline for a smart card and fingerprint-based solution for check-in and boarding. -- The Group's sales during the second quarter were affected by quality shortcomings in the production process at the sub-contractor manufacturing Precise BioAccess(TM). To assure quality in future deliveries, the company has decided to transfer manufacturing of the Precise BioAccess(TM) products to the subcontractor who is a longtime manufacturer of other Precise Biometrics products. Events occurring after the end of the reporting period: -- The company has decided to carry out a cost reduction program aimed at reducing the company's current costs by 30% compared to the average level during the first quarter. It is the company's intention to reduce its staff after having finalized the negotiations with the trade unions. -- Precise Biometrics has signed a licensing agreement with Orga GmbH, one of the world's five largest smart card suppliers. Orga will license the company's technology for fingerprint matching, Precise BioMatch(TM) C, and integrate it into its Micardo smart cards.
The full report including tables can be downloaded from the following link: http://reports.huginonline.com/869995/106844.pdf
Precise Biometrics AB is an innovative security company that supplies worldleading systems for authentication using fingerprints. The solutions supplied by the company replace keys, PIN codes and passwords. The company's products are cost effective and provide security and comfort combined with topclass protection of personal integrity. The range of products includes systems for access control to computers and networks and for building into mobile and terminals, such as mobile phones and portable computers. The company headquarters are in Lund, Sweden. The company also has offices in Stockholm and a U.S. subsidiary in Washington, D.C. Precise Biometrics is listed on the Olist of the Stockholm Stock Exchange (symbol: PREC A). For more information about Precise Biometrics, visit www.precisebiometrics.com