NetworkNewsBreaks – Foresight Autonomous Holding
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Posted On: 08/17/2018 6:12:59 PM
NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Reports Financial Results for 2Q2018
Automotive technology company Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) this morning reported its financial results for the second quarter of 2018. Among the highlights, the company ended the three-month period with $19.6 million in cash and short-term deposits, up from $18.3 million the previous year. Foresight also highlighted its progress toward commercializing its innovative automotive vision technology. “During the second quarter, we announced the first sales of our QuadSight™ prototype. The prototypes were ordered by a truck division of a large European vehicle manufacturer and by a leading global Chinese electric vehicle manufacturer, as both companies indicated their interest in the significant advances in obstacle detection offered by the QuadSight™ system,” Haim Siboni, CEO of Foresight, stated in the news release. “These prototype sales will enable us to collect customer feedback and modify the system to better meet customer needs in the future. We are confident that these sales, along with the progress in commercializing our Eyes-On™ system, offer a clear path to increased revenues and an enhanced product offering in the future.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Automotive technology company Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) this morning reported its financial results for the second quarter of 2018. Among the highlights, the company ended the three-month period with $19.6 million in cash and short-term deposits, up from $18.3 million the previous year. Foresight also highlighted its progress toward commercializing its innovative automotive vision technology. “During the second quarter, we announced the first sales of our QuadSight™ prototype. The prototypes were ordered by a truck division of a large European vehicle manufacturer and by a leading global Chinese electric vehicle manufacturer, as both companies indicated their interest in the significant advances in obstacle detection offered by the QuadSight™ system,” Haim Siboni, CEO of Foresight, stated in the news release. “These prototype sales will enable us to collect customer feedback and modify the system to better meet customer needs in the future. We are confident that these sales, along with the progress in commercializing our Eyes-On™ system, offer a clear path to increased revenues and an enhanced product offering in the future.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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