Adjusted EBITDA, as defined, was a loss of $4.1 million for the nine months ended September 30, 2012, compared to a loss of $2.6 million for the same period in 2011.

Net loss for the nine months ended September 30, 2012 was $7.2 million, or $0.22 loss per share, compared with net loss of $14.4 million, or $0.55 loss per share, for the comparable nine month period last year.

Note Regarding the Use of Non-GAAP Financial Measures

Certain of the information set forth herein, including EBITDA and adjusted EBITDA, may be considered non-GAAP financial measures. Neonode believes this information is useful to investors because it provides a basis for measuring Neonode's available capital resources, the operating performance of Neonode's business and Neonode's cash flow, excluding interest expense, provision for income taxes, depreciation and amortization, stock-based compensation and other expense, net that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”). Neonode's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating Neonode's operating performance, capital resources and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by Neonode may not be comparable to similarly titled amounts reported by other companies.

Conference Call Information

The Company will host a conference call on Wednesday, November 14 th at 10:00 a.m. Eastern Time featuring remarks by Thomas Eriksson, CEO of Neonode, and David Brunton, CFO of Neonode. Please use the following link to register for the call: https://us.reg.meeting-stream.com/neonode_111412/.

The dial-in number for the conference call is (877) 539-0733 (U.S. domestic) or (678) 607-2005 (international). All dial-in participants must use the following code to access the call: 41263502. Please call at least five minutes before the scheduled start time.

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