Mobileye NV Rises On Earnings, Stratasys, Ltd. Tumbles On Wide Miss

Updated on

Mobileye and Stratasys released their latest earnings reports before opening bell this morning. Mobileye posted non-GAAP earnings of 19 cents per share or $46 million on $94.9 million in sales, compared to the consensus estimates of 18 cents per share and $89.5 million in revenue. In last year’s third quarter, the company reported $70.6 million in sales and non-GAAP net income of 15 cents per share or $34.8 million.

Stratasys broke even on a non-GAAP per-share basis and $157.2 million in revenue against the consensus estimates of 5 cents per share in earnings and $174.5 million in sales. In last year’s third quarter, the company reported $167.6 million in revenue and non-GAAP earnings of 1 cent per share.

Mobileye records solid growth


Mobileye’s GAAP earnings amounted to 11 cents per share or $27 million, compared to the year-ago quarter’s 10 cents per share or $24.2 million. The company’s original equipment manufacturing revenue rose to $72.6 million from $60.8 million last year. Mobileye’s EyeQ chip volume rose to 1.553 million units from 1.351 million units in the same quarter last year. The average selling price for the chips rose to $45.50 from $43.50 last year.

“Strategically, we continue to see rising interest for higher-level autonomous vehicle technology, Mobileye Co-founder, President and CEO Ziv Aviram said in a statement. “Most new customer requirements for future programs now include a semi-autonomous feature-set in addition to Advanced Driver Assist System safety features. We have also seen an uptick in discussions relating to Fully Autonomous programs on the heels of our two recently-announced Level 4 programs with BMW and Delphi.”

Shares of Mobileye jumped by as much as 2.41% to $40.73 in premarket trades this morning.

Stratasys shares plunge on wide miss

Stratasys logo

Stratasys said its GAAP net loss narrowed to $20.8 million or 40 cents per share from last year’s GAAP net loss of $901.3 million or $17.35 per share. The company’s GAAP gross margin improved to 46.9% in the third quarter from the year-ago quarter’s -47.7%. The non-GAAP gross margin rose to 54% from 50.8% last year. GAAP EBITDA was $3.5 million, while adjusted EBITDA was $12 million.

Stratasys said  it expects revenue for the fourth quarter to be between $662 million and $673 million and its GAAP net loss to be between $76 million and $71 million or losses of $1.44 to $1.35 per share. It expects non-GAAP net income of $7 million to $11 million or 13 cents to 21 cents per share. For the full fiscal 2016, the company expects a non-GAAP gross margin of 54% to 55%.

Shares of Stratasys tanked in premarket trading, tumbling by as much as 9.76% to $18.50.

Signup to ValueWalk!

Get the latest posts on what's happening in the hedge fund and investing world sent straight to your inbox! 
This is information you won't get anywhere else!