SOURCE: Precise Biometrics AB

February 08, 2007 03:14 ET

Precise Biometrics AB (publ), Corporate Identity No. 556545-6596: Year-end Report for the Period January - December 2006

LUND, SWEDEN -- (MARKET WIRE) -- February 8, 2007 --


* Net sales for the group in the financial year amounted to SEK 47.7 million (45.1) and for the fourth quarter to SEK 11.4 million (8.8).

* Losses for the financial year amounted to SEK -90.9 million (-41.0) and for the fourth quarter to SEK -60.1 million (- 14.1).

* Losses per share for the financial year amounted to SEK -1.22 (-0.63) and for the fourth quarter to SEK -0.74 (-0.20).

* Liquid assets at the end of the financial year amounted to SEK 76.3 million (59.2).

* Write-downs have had a large effect on the fourth quarter result. The main part refers to the value of the investment in an associated company in China has significantly been written down with SEK 25.2 million.

* The restructuring and reorganization made during the fourth quarter has affected the result negatively with SEK 12,1 million.

Significant events during the quarter

* Thomas Marschall entered Precise Biometrics as President and CEO on November 1, 2006.

* The new issue of shares, which was approved at the extraordinary general meeting held on November 13, was oversubscribed and the company realized an amount of SEK 85 million prior to deductions for issue costs.

* SAS initiated the roll-out of the biometric solution from Precise Biometrics for baggage checks, which was implemented at eleven airports in Sweden in 2006.

* The company carried out a reorganization with a 25% reduction in the number of staff, which expects to generate cost savings of SEK 10-15 million already as of 2007. In addition the previous business areas have been replaced by geographical areas, within which newly established business areas will be incorporated in 2007.

For further information, please contact
Niklas Andersson, CFO, Precise Biometrics AB
Telephone +46 46 31 11 02 or +46 730 35 67 02
E-mail niklas.andersson@precisebiometrics.com

Ann-Sofi  Höijenstam, Director, IR & Communications, Precise
Biometrics AB
Telephone +46 46 31 11 47 or +46 734 35 11 47
E-post ann-sofi.hoijenstam@precisebiometrics.com
Precise Biometrics AB (publ.) is an innovative security company that supplies world-leading systems for fingerprint and smart card- based authentication. The company's solutions replace keys, PIN codes and passwords and enhance the integrity of ID cards and passports. With its Precise Match-on-Card™ technology, the company is a market leader within smart ID cards. The product line includes systems for access control to buildings, computers and networks and for integration into ID cards and passports. The Precise Biometrics group has subsidiaries in Sweden, Great Britain, USA and a joint venture agreement in China. The group headquarters are in Lund, Sweden. Precise Biometrics is listed on the small cap list at the Nordic Exchange in Stockholm (symbol: PREC). For more information, please visit http://www.precisebiometrics.com/

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

Year-end Report for the Period January - December 2006: http://hugin.info/131387/R/1103284/197794.pdf

Copyright © Hugin ASA 2007. All rights reserved.

Contact Information