Precise Biometrics losses widen in 2006

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

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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 In addition the previous business areas have been replaced by geographical areas, within which newly established business areas will be incorporated in 2007.

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