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Fingerprint Cards Q1 operating profit below forecasts
May 4, 2017 / 5:23 AM / 5 months ago

Fingerprint Cards Q1 operating profit below forecasts

STOCKHOLM, May 4 (Reuters) - Swedish biometric firm Fingerprint Cards (FPC) said on Thursday it expected excess industry-wide inventories to normalise during the second quarter, as it reported first-quarter operating earnings well below expectations.

The company posted an operating profit of 70.8 million Swedish crowns ($8 million), lower than the 110 million seen by analysts in a Reuters poll, and sharply down from 589 million in the year-ago quarter.

$1 = 8.8435 Swedish crowns Reporting by Olof Swahnberg and Helena Soderpalm; Editing by Bjorn Rundstrom

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