SOURCE: Precise Biometrics AB

April 22, 2008 06:21 ET

Precise Biometrics AB (publ), Corporate Identity No. 556545-6596 Interim Report for the period January - March 2008

LUND, SWEDEN--(Marketwire - April 22, 2008) -


* The group's net sales for the first quarter amounted to SEK 9.0 million (6.0).

* Losses for the first quarter were SEK -10.7 million (-9.3).

* Losses per share for the first quarter amounted to SEK -0.11 (-0.10).

* Liquid assets at the end of the quarter amounted to SEK 25.5 million (64.8).

* During the quarter Precise Biometrics received an order for 50,000 licenses for Precise Match-on-Card™ for an employee ID card program in one of the largest police departments in the US. The total value of the project for Precise Biometrics is expected to amount to SEK 2-5 million.

* Precise Biometrics has also been asked to participate in the TURBINE project (TrUsted Revocable Biometric IdeNtitiEs) financed by the EU. Precise Biometrics' contribution will be financed with SEK 5.7 million during a two-year period.

* Precise Biometrics won the second prize in SIMagine, a global competition aimed at allowing small companies and universities to develop and present future applications for SIM cards and NFC (near field communication). The finalists were presented at the GSMA World Mobile Congress in Barcelona.

* Precise Biometrics has released a new Precise Match-on-Card™ tool, Precise BioMatch™ Flex Toolkit, for simple and smooth integration of fingerprint technology. The target groups for the product are solution partners, systems integrators, and to some extent smart card companies. The product will be sold as part of a new partner program offered to existing and new partners.

Significant events after the quarter

* Precise Biometrics has hired Patrik Norberg as new CFO, who will start in this position in July.

For further information
Thomas Marschall, President and CEO, Precise Biometrics
Tel. +46 (0)46 31 11 10 or +46 (0)734 35 11 10
E-mail thomas.marschall@precisebiometrics.com

Precise Biometrics AB is an innovative company offering solutions for fingerprint recognition to prove people's identities. With top-of-the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person. Our core product Precise BioMatch™ integrates into ID and bank card programs and secure chips, as well as systems for access control to buildings, computers and networks. We act on a global market and our technology is licensed to more than 78 million users all over the world. The Precise Biometrics group has subsidiaries in Sweden (with group headquarters in Lund), Great Britain, Hong Kong and USA, and a joint venture agreement in China. Precise Biometrics is listed on the small cap list at the Nordic Exchange in Sweden (symbol:PREC). For more information, please visit http://www.precisebiometrics.com/

The full report with tables can be downloaded from the following link:

Interim Report for the period January - March 2008: http://hugin.info/131387/R/1211857/251232.pdf

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