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2016-05-11

IDEX ASA: IDEX ASA interim report for the first quarter of 2016

First quarter and recent highlights
· Shipped early production volume of Cardinal touch fingerprint sensor
to fulfil first order from tier-one mobile OEM
Clear validation of world-class sensor technology and requisite supply chain
· Repeat production volume order for Cardinal sensor
Builds on design win in December and initial production order in February
· Expanded Cardinal product family with introduction of Cardinal N
low-cost silicon touch sensor
Designed to address ultra-small, low-profile fingerprint sensing applications
· Introduced cost reduced production design for the in-glass touch
sensor with tier-one partner
Provides superior industrial design and durability without compromising image
quality
· Delivered commercial-grade samples of first flexible touch sensor for
ISO-compliant cards
Supports strategic partnership and expected trials with global payments
company
· Showcased latest sensor solutions at CES in Las Vegas and Mobile
World Congress in Barcelona
Strong interest from leading OEMs and ecosystem partners
· BIO-key introduced compact Windows Certified USB fingerprint reader
leading to IDEX Eagle sensor shipments
Addresses growing market for adding biometric authentication to existing
devices

Outlook and upcoming milestones
· Positioned for accelerated growth within multi-billion dollar market
for fingerprint sensors with strong product portfolio, proven production
volume manufacturing and order fulfilment capabilities
· Shipments of Cardinal and Eagle touch sensor ongoing, current orders
expected to be fulfilled in the second quarter
· OEM launch of tier one handset incorporating Cardinal sensor late in
the second quarter
· Continue seeding additional design win opportunities with active
sampling of a broad range of silicon- and polymer-based sensors to multiple
OEMs
· Further cooperation with global payments partner on flexible touch
sensor for ISO cards, in support of expected card product trials late in the
second quarter 2016
· Consumer trials and pilot for the card sensor during the second half
of 2016, and initial volume shipments expected towards the end of 2016
· Targeting customer evaluations of newest in-glass sensor solutions
mid year and industrialising supply chain for volume by the end of 2016
· Expanding direct sales capabilities to increase IDEX control of
sensor distribution

Outlook
IDEX's strategy is to drive adoption of its sensor technology across three
mass markets: mobile devices, ID and smart cards and the Internet of Things
(IoT).

IDEX is the only fingerprint sensor manufacturer in the market with the IP,
knowhow and product portfolio to offer both conventional silicon sensors (the
Cardinal product family) and next-generation polymer off-chip sensors (the
Eagle product family) to leading OEMs. The Cardinal sensor has a small form
factor and provides highly competitive price and performance characteristics.
The Eagle sensor has a unique cost and performance position for medium-sized
sensors. Additionally, the company continues to develop new products as
demonstrated by its April launch of the Cardinal N sensor targeting mobile
OEMs.

Recently IDEX received production volume orders for both the Eagle and the
Cardinal sensors in various market segments. Shipments of the Cardinal sensor
for the tier-one mobile OEM and of the Eagle sensor for IoT products
commenced in the first quarter of 2016. IDEX expects these market adoption
breakthroughs to generate more design wins and production orders throughout
2016.

Work on IDEX's unique in-glass sensor technology has also progressed with a
cost-reduced design. IDEX expects lead customer evaluation by mid-year 2016
and industrialising supply chain for volume by end of 2016.

IDEX's strategic partnership with a major global payments company is
proceeding well, and IDEX is currently expanding its production organisation
to satisfy the anticipated demand. IDEX believes that its world's-first
polymer touch sensor for cards will give it a leading position for
fingerprint sensors in the cards market. Card product trials with our
partner, for this one-of-a-kind sensor, are expected to take place in late
second quarter. IDEX expects to progress to consumer pilots during the second
half of 2016, potentially leading to initial volume shipments by the end of
2016.

Over the past year, adoption of fingerprint sensors in mobile devices has
become increasingly widespread, and growth is expected to accelerate as the
use of biometrics proliferates. Secure payment services are among the leading
drivers behind the need for secure and convenient authentication in the
digital world.

IDEX has developed a growing portfolio of high-performance and cost-effective
products. We have leading-edge IP, a deeply knowledgeable organisation with
an expanded direct sales team, tier-one industry partners, and a solid
financial position. We expect the company to capture a significant share of
this expanding, multi-billion dollar market opportunity for fingerprint
sensors.

11 May 2016
IDEX ASA

Web:
www.idex.no

Twitter:
http://www.twitter.com/idexasa

LinkedIn:
http://www.linkedin.com/company/idex-asa

Contacts:

Henrik Knudtzon, CFO, +47 9302 2827, hk(at)idex.no

About IDEX

IDEX has developed the world's most advanced fingerprint imaging, recognition
and authentication technology. IDEX's innovative Intellectual Property (IP)
is protected by a comprehensive portfolio of more than 225 patents, and IDEX
continues to enhance the portfolio with its commitment to ongoing world class
research and innovation.

The IDEX business model involves the design of fingerprint sensor IP and
products. IDEX sells fingerprint sensor products, and licences its technology
to global Original Equipment Manufacturers (OEM) partners. These partners
utilise IDEX IP in a range of innovative biometrically enabled products and
pay IDEX either a royalty on every product item produced, or purchase the
fingerprint sensor units.

IDEX's addressable market represents a multi-billion unit opportunity, centred
on three core markets:
* Mobile Devices
* ID security and Smart Cards
* The Internet of Things

IDEX has an exciting and competitive product ready road map including swipe
sensors, touch sensors with disruptive cost positions, and a unique in-glass
solution. The Company is currently in the process of commercialising these
products.

In February 2016, IDEX announced that it had received its first production
order for its Cardinal touch fingerprint sensor optimized for tier-one mobile
handsets, IDEX will begin to ship units in the second quarter 2016.

IDEX also recently announced it had developed the world's first flexible
polymer touch sensor suitable for ISO-card integration.

IDEX ASA (IDEX:NO) is a Norwegian public company, founded in 1995, and its
shares are Listed on the Oslo Børs (Oslo stock exchange). For more
information, please visit www.idex.no or contact IDEX
athenrik.knudtzon@idex.no

--o--

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

IDEX Q1 2016
http://hugin.info/131532/R/2011566/744786.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: IDEX ASA via Globenewswire

HUG#2011566

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