Precise Biometrics AB (PREC) rose to the highest in more than two months after the Swedish fingerprint log-in technology provider said a new order in the U.S. will help first-quarter earnings.
Precise Biometrics jumped as much as 18 percent to 0.86 krona, the highest intraday price since Oct. 23, at 2:08 p.m. in Stockholm. That pared the shares’ 12-month decline to 37 percent, valuing the Lund-based company at 227.5 million kronor ($35 million).
The contract from an unidentified U.S.-based financial- information services provider that the company didn’t identify is an “extremely significant” deal, confirming the strength of Precise Biometric’s algorithms even for reading “difficult” fingerprints, Chief Executive Officer Thomas Marschall said today in a statement. The order will have a “positive impact” this quarter, the company said.
“The financial-services markets have some of the world’s toughest requirements on usability and security, which is why we are extremely proud and pleased to present this new customer,” Marschall said. “It means that hundreds of thousands of employees in the financial sector soon will be using our technology on a daily basis.”
To contact the reporter on this story: Janina Pfalzer in Stockholm at firstname.lastname@example.org
To contact the editor responsible for this story: Christian Wienberg at email@example.com