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Fingerprint Cards cuts 2016 revenue view, sees growth in 2017
December 8, 2016 / 6:23 AM / in 8 months

Fingerprint Cards cuts 2016 revenue view, sees growth in 2017

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STOCKHOLM, Dec 8 (Reuters) - 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

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