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UPDATE 1-Gemalto confirms goals after Q1 sales rise
April 24, 2014 / 5:56 AM / 4 years ago

UPDATE 1-Gemalto confirms goals after Q1 sales rise

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PARIS, April 24 (Reuters) - France’s Gemalto, a digital security company that makes SIM cards for mobile phones and biometric passports, saw first-quarter revenue rise 7.3 percent on a constant currency basis, helped by strong sales of chip-enabled credit cards.

The company also confirmed its annual goals of double-digit growth in profit from operations and revenue at constant exchange rates.

First-quarter sales stood at 532 million euros ($736 million), up 3 percent once currency changes, mostly to the Japanese yen, U.S. dollar and Brazilian real, were taken into account.

The mobile segment posted flat revenue of 271 million euros, while sales of payment and identity products grew 12 percent to 253 million.

Chief Executive Olivier Piou said in a statement that growth was concentrated in North America and Asia, while Europe and Latin America were slower.

Gemalto’s shares are up 5.5 percent this year and closed at 84.45 euros on Tuesday before the publication. Its market capitalisation was 7.43 billion euros. ($1 = 0.7231 Euros) (Reporting by Leila Abboud; Editing by James Regan)

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