(Reuters) – Mobile chip and smart card maker Gemalto reported a 19 percent rise in first-quarter sales on constant exchange rates, its first release of results since finalizing the acquisition of U.S. data security company SafeNet in January. First quarter revenue rose to 686 million euros ($762.49 million) compared to 532 million euros in the previous year. The company beat analysts' expectations of 675 million euros in quarterly revenue. Gemalto, which makes smart chips for mobile phones, bank cards and biometric passports, said Payment & Identity segment's revenue was 369 million euros for the first quarter, an increase of 35 percent compared to the previous year, helped by the SafeNet acquisition.
Gemalto reports 19 percent rise in Q1 revenue