Gemplus posts 8.5% hike in revenues

Global smartcard provider Gemplus International reported a revenue growth of 8.5% year-on-year, which it attributed to 'good overall performance.'

The firm said it also posted an operating income of 67 million euros, and a 'strong' net income of 90 million euros, while operating expenses were flat.

It said it now had a free cash flow of some 85 million euros, excluding non-recurring items.

The group's telecom revenue was driven by earnings from the wireless sector, accounting for 600.4 million euros, while wireless card shipments rose 34% to 342 million units, due to strong growth in the EMEA region and the Americas.

The group's market share in the shipment of wireless smart cards also rose from 6% in 2004 to 10% in 2005, the firm said.

'The year 2005 was another year of substantial achievements for Gemplus. We reinforced the group's leadership, notably in high-end wireless and financial services, and strongly improved our financial performance, especially in terms of margin and cash flow,' Gemplus president and CEO Alex Mandl, said in a statement.