Neonode Inc: Slumps on lower Q1 revenue, bigger loss

Neonode

13/05/2020 16:12

** Shares of Neonode Inc  NEON.O  plunge 15% to $4.42 in
morning trade - set for worst day in over two months
    ** NEON, which develops and licenses user interfaces and
optical infrared touch solutions, reports Q1 revenue of $1.3
mln, down 35.7% from a year earlier  urn:newsml:reuters.com:*:nPn7R04VFa
    ** Q1 net loss widened to $1 mln, or 11 cents per share,
from $0.6 mln, or 7 cents per share
    ** NEON's near-term growth and overall business has been
impacted by the COVID-19 pandemic-led global economic slowdown
and its effects on our customers' businesses - NEON 
    ** Stock has gained ~131% this year

 (Reporting by Ayanti Bera in Bengaluru)
 ((Ayanti.Bera@thomsonreuters.com; within U.S.+1 646 223 8780,
outside U.S. +91 80 6749 3401;))