South Korea’s MCNEX Co. that manufactures camera modules and various information technology (IT) solutions is expected to report its best-ever sales this year on brisk sales of its premium camera modules and fingerprint recognition solutions.
“Our bold investment in biometrics technologies such as fingerprint and iris recognition solutions started to bear fruits this year and finally helped the company swing back to profits” a year after it fell into the red, MCNEX CEO Min Dong-wook recently said in an interview with Maeil Business News at its headquarters office in Seoul.
The Kosdaq-listed IT company reported losses last year after its annual sales retreated 18 percent to 412.5 billion won ($364.9 million) from 502.9 billion won a year ago. This year’s earnings outlook, however, is rosy after posting the highest-ever half-year sales of 314.8 billion won in the first six months of this year and it is expected to report its all-time high of 630 billion won in sales this year, according to market analysts.
“Our monthly production of fingerprint recognition modules has surpassed 3 million units last month. We expect that the fingerprint recognition business alone would post 100 billion won in sales,” Min said.
The company’s fast recovery has been possible thanks to its premium camera modules and fingerprint recognition modules whose sales have surged this year, added its CEO.
By business, camera modules for vehicles account for 130 billion won in the company’s total sales, fingerprint recognition modules 100 billion won, and mobile camera modules and others 400 billion won.
Shares of MCNEX Tuesday closed 1.02 percent up at 19,750 won from the previous session.
By Jin Young-tae
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]