The company posted profit for the first half of this year of $34.4 million, compared to $65.3 million in the first six months of 2005. Furthermore, Gemalto indicated that it expected performance in the second half of 2006 to be similar to the first half.
Olivier Piou, chief executive officer of Gemalto, said that the company would be likely to continue to face high levels of competition: Since the beginning of this year competitive pressure has been intense. We expect that our market environment will remain challenging in the coming months and we are adjusting to these demanding circumstances.
Yet, the simultaneous global spread of communications systems, mobile personal devices, and the internet, all requiring higher levels of security, plays well for fully realizing our digital security vision, concluded Mr Piou.
Gemalto was formed by the recent merger of Axalto and Gemplus.
