Precise Biometrics Q3-report was surprisingly strong. Sales came in at SEK 16.5m vs. our expectations of SEK 12m. Together with a high gross margin and positive currency effects, the EBIT-number became SEK -0.1m. This is positive.
Looking forward, the Company’s CEO continues to be very optimistic about the future for Q4 and 2009. The reasons for this are probably a good pipeline of prospects (orders expected in Q4) and good response from customers.
An even more positive note was that Precise Biometrics has received a credit facility of SEK 15m. This means that they maybe can avoid a share issue in the next few months which is very positive. We have done marginally upward revisions to our estimates going forward.
