Revenue Update on Neonode Inc(NASDAQ:NEON)

Neonode Inc(NASDAQ:NEON) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $2.57M. Analysts estimated a revenue of $3.78M. Earnings per share were $-0.03. Analysts had estimated an EPS of $-0.01.

Neonode Inc (NEON) shares turned negative on Wednesdays trading session with the shares closing down -0.01 points or -0.75% at a volume of 1,55,181. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.35. The peak price level was also seen at $1.35 while the days lowest was $1.27. Finally the shares closed at $1.33. The 52-week high of the shares is $3.44 while the 52-week low is $1.04. According to the latest information available, the market cap of the company is $58 M.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, Lars, Goran Lindqvist (CFO) purchased 15,000 shares at $1.61 per share price.Also, On Oct 13, 2015, Bjorn Thomas Eriksson (CEO) purchased 52,631 shares at $1.90 per share price.On Oct 13, 2015, Mats Dahlin (director) purchased 52,631 shares at $1.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Neonode Inc. develops and licenses user interfaces and optical infrared touch technology. The Company’s technology offers multiple features including the ability to sense an object’s size depth velocity pressure and proximity to any type of surface. It licenses its multi-touch technology to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) who incorporate it into devices that they produce and sell. In addition it develops prototype products and is engaged in product engineering design discussions with numerous global OEMs and ODMs. The Company offers its family of touch solutions under the brands MultiSensing and zForce. Its solution provides sense enablement through touch and proximity sensing. Its technology has application in various fields such as laptop computers all-in-one computers stand-alone monitors printer products global positioning systems e-Readers tablets mobile phones wearable electronics and games and toys among others.

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