Fingerprint Q3 – GM not as strong as we expected, FY guidance disappoints market

Research Note

2016-10-27

15:19

FPC’s Q3 report came in slightly above our estimate in terms of revenues but GM did not meet our high expectations. The revised guidance where FPC now expects revenues of SEK 7.2-7.5 billion weighs on the share today as it declines a bit over two percent. It seems like the market has had some time to digest the report, initially the share traded as low as SEK 80, almost ten percent down. On the positive side, FPC revised its guidance for the EBIT margin for the full year from above 37 percent to above 40 percent.

JW

Joel Westerström

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