RE: OEM wins20 May 2019 15:26
"Smart Eye increases the loss during the first quarter, looks at financing options
Smart Eye reports increasing sales during the first quarter compared to the same period last year. The company reports an increased loss.
Sales amounted to SEK 11.7 million (9.6), an increase of 22 percent compared with the previous year.
The operating profit was SEK -22.2 million (-13.8), which is in line with the plan and reflects investments in personnel to meet the increasing amount of projects and customer inquiries won, state the company in the report.
Profit before tax was SEK -22.3 million (-14.0).
Profit after tax was SEK -22.3 million (-14.0).
Cash and cash equivalents at the end of the period amounted to SEK 65.6 million. In the report of the report, Martin Krantz writes that the company is reviewing financing options.
"In light of the increased activity in Automotive Solutions in general, and the great opportunities we see in the Chinese market and in order to maintain our market-leading position, the Board of Smart Eye has commissioned Carnegie Investment Bank to review and evaluate additional financing options to maximize the opportunities to take advantage of the very favorable market conditions that currently prevail, "he writes."