Mobileye Loses 5% Following Q4 Results

Shares of Mobileye NV (NYSE: MBLY) lost more than 5 percent after the company reported its fourth quarter results.

Mobileye said it earned $0.15 per share in the fourth quarter on revenue of $71.8 million. Wall Street analysts were expecting the company to earn $0.14 per share on revenue of $70.76 million.

Net income for the quarter rose to $18.8 million from $2.4 million in the same quarter a year ago as EyeQ volume rose 83 percent to 1,308 million units from 715,000 units a year ago. The average selling price of its EyeQ product rose to $44.70 from $43.10 a year ago.

After market revenue for the quarter rose to $10.6 million from $7.4 million a year ago.

Revenue for the full fiscal year rose 68 percent from 2014's level to $240.9 million as the company's shipments of EyeQ units rose to 4.445 million from 2.656 million a year ago. Net income for the full year rose to $68.5 million from a net loss of $30.1 million a year ago.

"Our fourth quarter and full year 2015 results represent our continued successful execution in terms of growth, improved margins and robust free cash flow generation driven by ongoing NCAP and regulatory support that will secure our growth for years to come," stated Ziv Aviram, co-founder, president and chief executive officer of Mobileye. "During 2015, we successfully extended our technological leadership position evidenced by the recent launch of our new Road Experience Management (REM) mapping technology which enables safe autonomous driving and are proud of the endorsements from three of the world's largest automakers. We are also advancing our sensing technology and creating driving behavior capabilities, which we believe will further position Mobileye to remain at the forefront of the autonomous driving trend."