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Gemalto Q1 revenue declines 5%

Security revenue grew 27% to $79.2m

By CBR Staff Writer

France-based smartcard company Gemalto has reported a 5% decline in revenue to E367m ($485m) for the first quarter 2009.

Revenue from mobile communications fell 14% to E192m ($253.7m), while secure transactions revenue decreased by 1% to E100m ($132.1m). Security revenue grew 27% to E60m ($79.2m) and revenue from others remained flat at E16m ($21.1m).

The company said EMEA sales fell 11% to E192m ($253.7m), sales in the Americas increased 15% to E101m ($133.4m), and Asia revenue declined 13% to E74m ($97.7m).

During the quarter Netherlands-based chipmaker NXP announced plans to transfer its mobile services business to Gemalto to enable the company to develop software and services compliant with MIFARE4Mobile specifications to manage MIFARE-based applications in Near Field Communication mobile devices.

Olivier Piou, chief executive at Gemalto, said: Revenue for this quarter, though lower than Q1 2008, was in line with our expectation of a return to the traditional seasonality pattern. Strong progress continues to be made in securing new contracts for mobile services and contactless payment devices. Government Programs benefits from both a solid backlog and increasing momentum in national e-ID programs.

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