France-based Oberthur Technologies on Wednesday reported revenues of 217.2 million euros (US$341.7 million euros) for the second quarter of 2008, up 20.2% from 180.7 million euros during the same period last year. Excluding the integration of mid-tier card vendor XponCard Group AB of Sweden, which Oberthur completed on 1 May, revenues for the quarter reached 193.4 million euros, up 7% from a year earlier. In the payment segment of Oberthur's card division, revenues without Xpon reached 70.9 million euros for the second quarter of 2008, down 1.8% from 72.2 million euros a year earlier, the company says. Oberthur says it benefited from demand from financial institutions in Brazil, South Africa and Spain for EMV-compliant smart cards and from card growth in Asia and South America. "South America is growing much more than North America, [which is] impacted by the dollar rate," Philippe Geyres, Oberthur managing director, told analysts during a conference call Wednesday. The company saw "lower activity" in the United States for magnetic stripe cards. With Xpon, revenues for the payment segment reached 83.2 million euros in the second quarter, 15.2% more than during the same period a year ago. Oberthur reported that sales of contactless cards to the U.S. increased 50%, but the company did not release figures.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry