Suprema reports record high yearly revenue of $65.5 million for 2014

Company recorded revenue of $65.5 million (USD) and increase in market capital to $357 million (USD)

Suprema announced financial results for its 2014 fiscal year ended Dec 31, 2014. The company posted record high yearly revenue of $65.5 million (USD) and increase in market capital to $357 million (USD).

The results were fuelled by all-time record revenue from access control and time & attendance devices as well as a strong performance in ID solution device sales.

Double digit growth

The revenue jumped 26.2% from $49.2 million (USD) from 2013, and market capital again reported double-digit growth. The revenue growth has well exceeded Suprema’s 5 year average CAGR of 17.8%.

Among four different global region groups, Europe had the lions’ share of revenue with 41%. Americas followed up with 21% of the total revenue. Asia & Pacific and Middle East & Africa had revenue distribution of 20% and 18% respectively.

Superior quality product & service

“I believe the healthy growth of Suprema’s revenue is a testament to the superior quality of our products and service,” said James Lee, Suprema’s CEO. “Strong growth in an established market such as Europe is proof of our competitiveness. The new products scheduled for release in 2015, along with our recently released BioStar 2, Web-based Open Security Platform, will set the foundation for Suprema’s market expansion in 2015.”