Despite a flagging economy, Gemalto has reported a revenue increase of nearly $140 million for the third quarter of 2010. The company reported $700 million in revenue as compared to $561 million for the same 2009 period. Year-to-date (9-month) revenue stands at nearly $1.9 billion, compared with $1.7 billion for the same 2009 period.
“This quarter’s strong growth in all our main segments demonstrates the strength of our business and the benefits of the initiatives taken since the beginning of the year,” said Gemalto CEO Olivier Piou. “Our acquisition of Cinterion, reported in the new business segment Machine-to-Machine, opens an additional growth path for Gemalto. We are on track to deliver growth and profit expansion for the full year,” he added.
Revenue from software and services more than doubled, spurred by growth in North America. Revenue from the traditional SIM card business was slightly lower year on year but demand in emerging markets remained high. Revenue from new formats of wireless personal devices, such as mobile TV players, continued to grow.