Mobileye revenue up, profit down

Before the start of trading in New York today, Israeli company Mobileye(NYSE: MBLY) reported a $2.4 million net profit ($0.01 per share) in the fourth quarter of 2014, compared with $13 million ($0.06 per share) in the corresponding quarter in 2013. The Mobileye share gained 5% in preliminary trading. The company outperformed the revenue forecasts with $39.7 million, compared with $31.4 million in the fourth quarter of 2013. The analysts' consensus forecast was a net profit of $0.05 per share on $36.4 million revenue.

Mobileye, which produces camera-based Advanced Driver Assistance Systems (ADAS), held its IPO at $25 per share, following which its share price soared 80%. In the past three months, however, the share has lost 22%, and the company's current market cap is $5.2 billion.

"We believe that we will succeed in maintaining our momentum in the long term, taking into account the regulatory benefits of ADAS and the growing trend towards development of automated vehicles," Mobileye CEO Ziv Aviram said.

Published by Globes [online], Israel business news - www.globes-online.com - on February 26, 2015

Mobileye revenue up, profit down

The driving safety systems company reported $39.7 million in revenue in the fourth quarter of 2014.