Mobileye Profit, Revenue Top Estimates

MarketWatch Pulse

Mobileye N.V. said Thursday it had net income of $2.4 million or 1 cent a share, in the fourth quarter, down from $13 million, or 6 cents a share, in the year-earlier period. The Israeli maker of camera-based driver assistance systems said adjusted per-share earnings came to 6 cents a share, a penny ahead of the FactSet consensus of 5 cents. Revenue came to $39.7 million, up from $31.4 million a year ago and ahead of the FactSet consensus of $36.4 million. "We believe we are well-positioned to maintain our momentum longer-term given the benefits from increased regulation of (the company's system) ADAS, the large and growing trend towards semi-autonomous and autonomous driving, as well as continued expansion from new and existing OEM and Tier-1 relationships," Chief Executive Ziv Aviram said in a statement. Shares were not yet active in premarket trade, but are down 22% in the last three months, while the S&P 500 has gained about 2%.

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