Inside Secure has reported a fall in revenues of 68% year-on-year for its Mobile NFC division. Revenues were just US$4.5m in the first quarter of 2013, down 61% on the fourth quarter of 2012.
"BlackBerry and its subcontractors, the group's main customers for this business segment, largely drew on their existing component inventories in the period, rather than making new purchases from Inside Secure," the company says. "The backlog for the second quarter of 2013, however, is showing growth."
Overall, the company reported consolidated revenues of US$34m in the quarter, "stable compared with the first quarter of the previous year and 9% higher than in the fourth quarter of 2012."