IDEX – Interim report first quarter 2010

Enclosed in pdf file is the interim report for the first quarter 2010 for the IDEX ASA Group.

Highlights in the first quarter

  • The patented SmartFinger® Film fingerprint sensor technology was introduced to the market at the CARTES in Asia exhibition in Hong Kong 16-18 March 2010. The sensor technology is based on state-of-the-art polymer engineering, and puts IDEX in a position to offer small, ultrathin and flexible fingerprint sensors for mass market production. At CARTES IDEX received 60 qualified visitors from 20 countries.
  • Validus Technologies Inc., one of IDEX’ global partners in the field of powered biometric cards, has received fingerprint SmartFinger® Film sensors for testing and design into their biometric powered card platform.
  • Mr. Joakim Østensen, who has worked with IDEX several years, has been appointed vice president of technology. The technical staff has also been expanded with one chip design engineer.
  • IDEX has expanded the sales organisation by contracting Messrs. Daniel Dingley and Knut Pogost as sales representatives for Europe and Asia respectively.
  • In April IDEX’ manufacturing and licensing partner Ionics EMS Inc., completed the first fingerprint sensor prototypes based on the novel SmartFinger® Film technology.
  • A conversion of NOK 13.1 million debt to equity was completed on 17 February 2010
  • NOK 30.0 million in equity and working capital was added by the early exercise of warrants and private placement of shares in primo March 2010.
  • A 3-to-1 share consolidation was effective on 10 March 2010.
  • Following application and due diligence procedures in fourth quarter 2009 and into 2010, the IDEX shares were admitted to listing on Oslo Axess with first day of listing 12 March 2010.

10 May 2010

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)