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BRIEF-Next Biometrics Q1 net loss widens to NOK 49.5 million YoY
May 24, 2016 / 6:21 AM / 2 years ago

BRIEF-Next Biometrics Q1 net loss widens to NOK 49.5 million YoY

May 24 (Reuters) - Next Biometrics Group ASA :

* Q1 total revenue 5.2 million Norwegian crowns ($621,786) versus 2.4 million crowns year ago

* Operating revenue in Q1 of 2016 was 5.2 million crowns, compared to 1.7 million crowns in previous quarter

* Net loss in Q1 was 49.5 million crowns compared to loss of 47.5 million crowns in previous quarter, loss 19.6 million crowns year ago

* Says has during Q1 focused on scale-up of mass production for deliveries to Dell

* Says costs related to transition to new products and volume ramp-up have been booked in Q1

* Total R&D expenses, included in both payroll and other operating expenses, amounted to 25.8 million crowns in Q1 2016, compared to 13.9 million crowns in Q4 2015 and 12.3 million crowns in Q1 2015

* Says aims to increase mass production capacity of flexible sensors to 2 million/ month from H1 2017

* Says plans further investments in 2018 generation Smart Cards Source text for Eikon: Further company coverage: ($1 = 8.3630 Norwegian crowns) (Gdynia Newsroom)

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