FollowNeonode shares edged higher Thursday despite the optical-touch technology company’s report of a wider-than-expected Q4 net loss, as its revenue rose more than expected and the company said it signed an agreement with “one of the largest” PC original-equipment manufacturers
The company posted a Q4 net loss of $3.1 million, or $0.08 per share, compared with a prior-year net loss of $3.0 million, or $0.08 per share. Three analysts polled by Capital IQ had predicted a loss of $0.07 per share, on average.
Net revenue increased 72% to $1.7 million, with the company saying the increase was due to increased license fees and fees earned from completed development projects. The three analysts had projected revenue of $1.4 million, on average.
Neonode CEO Thomas Eriksson also said the company recently signed an agreement with “one of the largest” PC original-equipment manufacturers. Under that agreement, he said, “we, along with our partners, will deliver touch and proximity modules for their PC products.” He didn’t name the customer. NEON shares were up 2.5% at $3.29 recently, in a 52-week range of $1.72 to $7.04.
