Kicked Fingerprint CEO leaves with flying – Swedish Dagbladet

Jörgen Lantto. Photo: Björn Larsson Rosvall / Expose

The news of Fingerprints CEO Jorgen Lantto poked by the Board struck down by a bomb in June. Despite the setback insured Lantto that he would end his time in the best possible way. And as if nothing happened, he showed diligence lamp burning – and went on Friday out with a better than expected interim report for the second quarter.

A sign of strength was biometrics company’s profitability, which was better than expected.

– We have submitted a report showing good growth, in line with the strong performance of our customers (including Chinese Xiamoi, Huawei, Oppo and Vivo reds. note) which increases its market share in the smartphone market, says Lantto SvD Business .

During the quarter fingerprint also gained better visibility for 2017 and to establish that the company’s market share for fingerprint sensors will end up on the top of the previously forecast range of 50-70 percent .

However, it did not revenue meet analysts’ expectations.

There have been many successes but also the setbacks in my time as president.

the strong quarterly report was Jörgen Lanttos last as CEO of Fingerprint. From 1 August, Christian Fredrikson, former CEO of IT security company F-Secure, as decided by the Board. Lantto will however remain until November, during a transitional period.

But Lantto takes not his resignation with sadness, but welcomes back on his time at the company.

– I will provide a strong organization behind me and it feels extremely good to leave behind all the customers and products that we have developed. I’m very proud of the position I had. But now it is up to his successor to take this further, he said.

Although other companies have contacted with offers to Lantto, it is no stress of finding next job, he says.

– Until now I have been fully occupied with spending time and energy on making a good end to the company. I get to watch what I will do then, when I become vacant in the autumn, he said.

Since Lantto took as acting president in September 2014, the company’s share has grown by more than 1000 percent on the Stockholm Stock Exchange.

During the period, Fingerprint also been marked by scandals relieved of insider dealing, market manipulation, information leakage and middle managers who dump shares. In contrast, the share has grown popularity among small investors and analysts, and moved up to the big living room furniture companies in OMXS30 list.

– There have been many successes but also the setbacks during my time as president. But I have learned a lot about what ingredients are needed to drive very strong growth.

Shortly after Lantto was dismissed, he sold 3 million of its shares, equivalent to approximately 300 million crowns. Asked if he will sell his remaining 1.7 million shares, he would not comment.

Quarterly report numbers

Fingerprints operating earnings landed 710 million in the quarter, better than expected 681 million kronor, according to SME Direkt survey.

turnover was 1.666 billion crowns, which was lower than expected 1.74 billion crowns.

the operating margin was 42.6 percent, compared with the expected 39.2 percent.

At the same time, repeat Fingerprint forecast that the operating margin for 2016 exceeds 37 percent.

Gross margin landed on 48.8 percent, better than expected 46.6 percent.

the company has previously estimated that it will increase its share of the market for fingerprint sensors from 45 percent 2015-50 -70 percent in 2016.

at the same time revenue estimate 2016 is slightly narrower, and is set to 7.2-8.3 billion for the year, from the previous 7.0-8.5 billion.