STOCKHOLM, Nov. 8, 2018 /PRNewswire/ --
Neonode Inc. (NASDAQ: NEON), the optical interactive sensing
technology company, today reported financial results for the three
and nine months ended September 30,
2018.
Neonode Reports Third Quarter Ended September 30, 2018 Financial Results
Third Quarter 2018 Business Metrics
· Revenue was $1.9
million, a decrease of 17% compared to prior year
· Operating expenses reduced to $2.5 million compared to $3.6 million for prior year
· Net loss of $0.8
million, or $0.14 per share
compared to $1.1 million, or
$0.20 per share for prior year
· Cash used by operations of $0.8 million compared to $1.7 million in prior year
· Engaged in OEM development projects and
delivering pre-production sensor modules for:
o Automotive tailgate and door collision
systems
o Automotive display for next gen taxi meter
system
o Aeronautical instrumentation displays
o Medical device display for imaging
system
o Retail store smart surfaces touch and
gesture control systems
"Our primary focus is to grow our customer base and total
revenue from a combination of license agreements and sale of sensor
modules. During the third quarter we have actively engaged with
numerous companies supporting them to identify specific use cases
that require touch interaction, mid-air interaction or object
sensing solutions. Our mission is to help OEMs to unlock growth by
fueling innovation and driving differentiation from their peers. We
see an acceleration of technology evaluation activities from
companies who are seeking solutions to satisfy design requirements
for new systems and products. We are now providing technical
support, design samples and prototypes to companies in numerous
segments including automotive, medical, consumer electronics, white
goods, aeronautics and smart surfaces for retail stores," said
Hakan Persson, CEO of
Neonode.
"I am pleased to report that we are making progress with both
existing and new customers and that the pace of activities is
accelerating. In sensor modules, we see new customers starting to
move to the production stage, while license customers are designing
new modules with release dates over the next 12 to 24 months. I am
confident that we will grow both our licensing business and execute
on our strategic plan to add B2B sensor module sales," concluded
Mr. Persson.
Conference Call Information
The Company will host a conference call Thursday November 8, 2018 at 10AM Eastern Standard Time (EST)/4PM Central European Time (CET) featuring remarks
by, and Q&A with, Hakan Persson,
CEO, Lars Lindqvist, CFO and
David Brunton, Head of Investor
Relations.
The dial-in number for the conference call is toll-free: (877)
539-0733 (U.S. domestic) or +1 (678) 607-2005 (international). To
access the call all participants must use the following Conference
ID: #3168756. Please make sure to call at least five minutes before
the scheduled start time.
To register for the call, and listen online, please
click:
https://event.on24.com/wcc/r/1851630-1/C419A41DCC8FDA573D61EE2670B62F21
For interested individuals unable to join the live event, a digital
recording for replay will be available for 30 days after the call's
completion - 11/8/2018 (13:00PM EST) to 12/8/2018 (23:59PM
EST). To access the recording, please use one of these
Dial-In Numbers (800)-585-8367 or (404)-537-3406, and the
Conference ID #3168756.
For more information, please contact:
CONTACT:
Investor Relations
David Brunton
Email: david.brunton@neonode.com
CFO
Lars Lindqvist
E-mail: lars.lindqvist@neonode.com
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/neonode/r/neonode-reports-third-quarter-ended-september-30--2018-financial-results,c2667186
The following files are available for download:
http://mb.cision.com/Main/17297/2667186/941254.pdf
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SOURCE Neonode