IDEX ASA: Interim report and financial statements for the third quarter of 2011

Leveraging on several partners

• Continuing the development and qualification work with several ongoing and new partners
• Recruited additional employees to serve partners and prepare for volume production
• Validus order fulfilled
• Actively promoting IDEX at international events
• Entered into agreements with Future Electronics, Embedx, Card Tech and Ionics in October-November
• Demonstrated implementations of SmartFinger® Film in partners' products in November
  and showed a new evaluation kit to customers
• Warrants exercised, raising NOK 11.6 million 

Working with several ongoing and new partners

IDEX added five new partner companies during the first half of 2011, and about ten more have obtained evaluation kits of the SmartFinger Film sensor and software. The IDEX staff has been actively supporting our customers, ensuring the progress of the various qualification projects. Several new opportunities have also been pursued.

"The third quarter was a period of exciting work with several leading companies which we signed up during the first half of the year. Our partners' projects are aimed at qualifying our award-winning SmartFinger Film fingerprint technology for implementation in their product," said Ralph W. Bernstein, CEO of IDEX.

"We aim at providing secure, safe and simple personal ID to the mass markets. We have strengthened our team by adding five new employees to work on various aspects of the production ramp-up project and to achieve commercialisation by supporting our current and prospective customers' projects," Bernstein added.

The full report with financial statements and notes is enclosed in pdf file.

Idex interim report Q3 2011