Smart card specialist, Gemplus, this week reported that payment microprocessor card shipments rose 125% year-on-year, and 11% compared to the previous quarter, driven by the migration from magnetic stripe to EMV cards in Europe and Asia. EMV shipments increased 38% quarter-on-quarter, marking the fifth consecutive quarter showing significant sequential revenue growth. Financial Services revenues for the first quarter were $48.3 million, compared to $43.4 million for the first quarter of 2003. The Financial Service segment produced a gross profit of $10.9 million, a 73% gain over the same period one-year ago. Overall, Gemplus International posted first quarter revenues of $235.7 million, a 27.9% increase over 1Q/03. The Company posted a first quarter profit of 300,000 euros compared to a loss of $33.2 million in the previous quarter, and a loss of $45.3 million one-year ago. During the first quarter, Gemplus deployed 3G cards for the launch of SK Telecom’s 3G network in Korea, which incorporated the “VISA Smart Debit Credit” application by VISA International for the world’s first mobile proximity payment service on a USIM card, called “MONETA.” For complete details on Gemplus’ first quarter performance visit CardData ([www.carddata.com]).