February 8, 2018 / 8:18 AM / a year ago

UPDATE 1-Tobii targets profitability in 2020, shares fall

(Adds detail, background, shares)

Feb 8 (Reuters) - Swedish eye tracking technology firm Tobii said on Thursday it aims to be profitable in 2020 as it reported a loss for the fourth quarter, sending its shares down.

* Co. says is fully financed to execute on its current business plan, and financial target for group is to reach profitability in 2020​

* Says division ‍Tobii Dynavox’s target is to increase revenue on average by 10 pct per year with an EBIT margin of 15-20 pct vs previous target of 20 pct​

* Says ‍Tobii Pro’s long-term financial target is to increase revenue on average by 15-20 pct per year, with an EBIT margin of 15 pct by 2020, vs previous growth target of 15 pct​

* Says ‍for Tobii Tech, target is to reach profitability in 2021​

* Says ‍conducts an active acquisition strategy in all three business units, and potential acquisitions may require separate financing

* Q4 operating loss roughly unchanged at 11 mln SEK ($1.4 mln), sales roughly unchanged at 307 mln SEK

* Heavy investments in Tobii’s Tech unit, which is at heart of Co’s push into gaming market, is pressuring earnings

* Shares down 6 pct to trade at 32.70 crowns by 0807 GMT Source text for Eikon: Further company coverage: ($1 = 8.0529 Swedish crowns) (Reporting by Helena Soderpalm, editing by Anna Ringstrom)

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