Neonode Multisensing® touch technologies > Newsroom > Neonode Reports Quarter Ended March 31, 2013 Financial Results

Neonode Reports Quarter Ended March 31, 2013 Financial Results

Published May 8, 2013 in Press release

SANTA CLARA, CA. May 8, 2013 Neonode Inc. (NASDAQ: NEON), the optical touch technology company featuring the Multisensing® Touch Technology, today reported financial results for its first quarter ended March 31, 2013.

To the release: http://www.businesswire.com/news/home/20130508005835/en

Recent Highlights:

  • Entered into partnership with a Tier One PC Semiconductor OEM to jointly develop a PC reference and automotive platform
  • In discussions with Tier One PC OEMs regarding PC designs
  • Signed 3 new technology license agreements with Auto In-Car-Entertainment (ICE) OEMs, including two Top-Ten global brands
  • Signed a new license agreement with smartphone and tablet OEM in China
  • Were awarded 3 new patents in 2013, bringing the patent total to 12, with 72 pending patents applications

“Our performance for the quarter ended March 31, 2013 is in line with our internal expectations, and is reflective of the seasonality for our customers’ production” said Thomas Eriksson, Neonode CEO. “More significantly, however, during 2013, we have made significant leaps, particularly in our PC-related technologies, and have experienced growing traction with new and old customers.”

“Our initial customers in tablets, printers, and handsets still expect to start ramping in the second-half of 2013. Our automotive customers are already in production for after-market infotainment products, and we expect our expanding Tier-One auto customer base will ramp in volume as early as next year. Most significantly, we now believe that Neonode will emerge as a key player in the Windows notebook PC space, within the coming year. That said, we will continue to reiterate that since we are a licensing company, with our growth prospects tied to new markets and customers, our visibility of precise rollout dates and ramps is still limited” continued Eriksson.

“Finally, in conjunction with our legal and patent advisors, we have conducted and in-depth analysis of our IP position over the last year, while actively filing for complementary follow-on and new patents. To date, we have 12 patents issued, and have 72 more patents pending. Our next step is to “decide” the final organizational structure to enable us to maximize the value of our IP. Until this decision is finalized, we will not comment further about this topic” concluded Eriksson.