Smartrac saw its financial results adorned with glitter and gold, thanks (at least partially) to the manufacturing of its secure RFID components and ePassport inlays.
Company revenues in first half of 2006 amounted to Euros 22.5 million, more than double compared with the same period in 2005, when revenue was Euros 8.3 million. The main contribution however came from the company’s ‘High Security’ segment (ePayment and ePassport), which increased its revenues to Euros 9.9 million, more than ten times greater than the same period last year.
But ePassports aren’t the only things making news, or generating buzz.
Christian Fischer, CFO of Smartrac, says growth may also be attributed to performance in areas including mass transportation, access systems and logistics.