Mobileye (NYSE: MBLY) reported Q1 EPS of $0.08, $0.01 better than the analyst estimate of $0.07. Revenue for the quarter came in at $45.6 million versus the consensus estimate of $44.23 million.

"The first quarter marked a strong start to the year, highlighted by two significant new program wins that will include our EyeQ4 chip, demonstrating the ongoing demand for our state-of-the-art technology, which bundles multiple applications into a single package," stated Ziv Aviram, co-founder, president and chief executive officer of Mobileye. "During the quarter we saw accelerating trends toward ADAS and autonomous vehicle adoption, driven by recent announcements by OEMs and regulatory agencies, to improve driver safety. As a result, we believe the company is well positioned to benefit from increased global penetration."

At March 31, 2015, Mobileye had cash, cash equivalents and short-term investments of $426.2 million, compared to $375.1 million at December 31, 2014.

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