French global smart card specialist, Gemplus, reported that payment microprocessor card revenue for 2Q/04 rose 37% year-on-year, and 15% quarter-on-quarter. Gross profit for the Company’s financial services unit increased 29%, from $8.2 million one-year ago to $10.6 million. Financial services revenues increased from $46.7 million to $53.8 million during the same period, a 15% gain. Financial services revenue growth was primarily driven by EMV and, to a lesser extent, by Pay-TV cards. EMV shipments continued to improve with strong growth in Scandinavia, France and Mexico. Microprocessor card revenue growth was partly offset by lower sales in magnetic stripe cards, due to cannibalization by EMV cards. For complete details on Gemplus’ second quarter performance visit CardData ([www.carddata.com]).
Revenues Gross Profit
2Q/03: $46.7 million $ 8.2 million
3Q/03: $57.5 million $15.2 million
4Q/03: $54.4 million $ 8.7 million
1Q/04: $48.7 million $11.0 million
2Q/04: $53.8 million $10.6 million
Source: CardData (www.carddata.com)