STOCKHOLM Dec 8 Biometric technology firm
Fingerprint Cards (FPC) slashed its revenue guidance
for 2016, hit by inventory build-ups, softer smartphone volumes
and stiffening competition, but forecast growth next year
roughly in line with expectations.
The Swedish company said it expected revenues for 2016 to be
in the range of 6.6-6.8 billion Swedish crowns, well below its
previous forecast of 7.2-7.5 billion.
It also forecast 2017 revenues of 7.5-9.5 billion Swedish
crowns ($0.83-$1.05 billion) compared to a ThomsonReuters
SmartEstimate of 8.6 billion.
FPC, presenting its first outlook for next year ahead of a
capital markets day later on Thursday, also guided for an
operating margin of at least 35 percent in 2017, lower than its
forecast for a margin of about 40 percent in 2016.
($1 = 9.0637 Swedish crowns)
(Reporting by Olof Swahnberg; editing by Niklas Pollard)