Xiring, a leading French security solutions provider for remote transactions, has recorded a turnover of €5.4 million for the first quarter of 2008 - up 88% compared to the same period in 2007.
The turnover generated by remote card authentication solutions for e-banking and e-commerce reached € 1.8 million, compared to 300 K euros for the first quarter of 2007, when the market had just started to take-off. XIRING continued to deliver its Xi-Sign solutions with the UK being the primary target. In line with its strategic objectives, the company will strengthen its marketing and sales investment to benefit fully from the growth in this market.
In the healthcare sector, sales stand at €3M, compared to €1.8M for the first quarter of 2007 - up 65%. By the end of March 2008, 10,500 of the 12,000 pharmacies equipped with the Vitale card updating service "le Point XIRING", were upgraded to the new generation service - "le Point XIRING V2".
XIRING is one of the world leaders for remote card authentication solutions for e-banking and e-commerce and the leader for SESAM-Vitale healthcare security solutions in France.
XIRING has confirmed its growth target of 20% in revenue for the financial year 2008, with profitability levels of 7% or above.