Xiring, a security solutions provider for remote transactions, today posted a turnover of 12.9 million euros for the first half of 2008, up 58% year-on-year.
XIRING announces solid revenue growth for the first half of 2008: +58%, and confirms its annual turnover forecast
XIRING also confirmed its annual turnover forecast of 28.5 million euros or +20%. Turnover for the second quarter is up 42% year-on-year at €7.5 million which confirms the continued growth of the company.
Strong revenues from both Banking and Healthcare activities
The sale of Xi-Sign strong authentication solutions for e-banking and e-commerce have generated revenue of €6.0 million for the first half of the year, +107% compared to H1-2007 (€4.2 million for the second quarter of 2008). This revenue was generated mainly outside of France and notably in the UK where several large-scale deployments of the Xi-Sign are underway in the banking sector.
The SESAM-Vitale professional healthcare solutions have generated revenue of €5.7 million for the first half of 2008, +46% compared to H1-2007 (€2.6 million for the second quarter of 2008).
Annual turnover forecast confirmed: €28.5 million
XIRING is continuing to deliver strong authentication solutions for e-banking and e-commerce. Several European countries are in the process of mandating greater security for e-banking and e-commerce, reinforcing the relevance of XIRING's solutions which are compliant with the MasterCard and Visa standards.
The H1-2008 results will be released on September 16th, 2008.