Monday, March 20, 2017 11:07:59 AM
The analyst reiterated a Buy rating on the company, with a price target of $10 .
Ending 2016
McIlree mentioned that the Q4 revenue reported by Vuzix, of $620,000 , was largely in line with the estimate of $600,000 .
However, gross margin was lower, with the company continuing to work through the high cost production of iWear.
Smart glass volumes remained modest through the year, as customers awaited the M300 while purchasing the M100 in small amounts.
2017 Expectations
“The company has wisely chosen to exit the crowded consumer market and took a $1.1 million inventory charge on iWear and will lower ASP (average selling price) to $299 in order to move out the rest of its inventory over the coming quarters,” the analyst stated.
However, McIlree noted that the overall consumer market was crowded and continued to suffer from production adoption issues, which were likely to make things difficult for players in this space.
“Targeting the commercial and industrial market is likely to be much more lucrative for Vuzix since it is a leader in this space and product adoption is increasing,” the analyst recommended.
Product Launches
With the M300 having received certifications from the respective regulatory bodies in the United States , Europe , Canada , Australia , New Zealand and India , shipment had begun of production volumes, and Vuzix expects production capacity of 1,500 units per month by the end of the current quarter.
“Demand for the M100 is stable, even with the M300 introduction and is a sign of modest cannibalization to date,” the analyst went on to say, while adding, “We believe the waveguide components, the Blade 3000 and the M3000, which are based on the company’s proprietary waveguides, are breakthrough products and will enable a much larger market.”
Recent VUZI News
- Vuzix Receives $10 Million First Tranche Investment from Quanta Computer • PR Newswire (US) • 09/16/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/16/2024 10:30:17 AM
- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 09/12/2024 08:15:44 PM
- Quanta Computer Enters into a Strategic Investment in Vuzix in Support of Long-Term Waveguide Design and Supply Partnership • PR Newswire (US) • 09/03/2024 12:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 12:10:36 PM
- GPS TUNER Selects Vuzix (NASDAQ:VUZI) Z100 Smart Glasses to Bundle as a Heads-Up Display for Their eBike Software Offerings • PR Newswire (US) • 08/16/2024 12:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/15/2024 06:08:29 PM
- Vuzix Reports Second Quarter 2024 Results • PR Newswire (Canada) • 08/14/2024 08:40:00 PM
- Vuzix Reports Second Quarter 2024 Results • PR Newswire (US) • 08/14/2024 08:40:00 PM
- Vuzix (NASDAQ: VUZI) Employs New Micro-touch Imprinting Process to Increase Optical Waveguide Performance and Production Throughput • PR Newswire (US) • 08/13/2024 12:00:00 PM
- Vuzix (NASDAQ: VUZI) Introduces M400 Xtreme Smart Glasses for Use in a Variety of Harsh Workplace Environments • PR Newswire (US) • 08/12/2024 12:15:00 PM
- Vuzix Schedules Conference Call to Discuss Second Quarter 2024 Financial Results and Business Update • PR Newswire (US) • 08/01/2024 06:00:00 PM
- Vuzix (NASDAQ: VUZI) Wholly Owned Subsidiary Moviynt Receives New Key SAP Certification • PR Newswire (US) • 07/30/2024 02:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/10/2024 12:17:30 AM
- Leading Asian Hospitals Use Vuzix (NASDAQ:VUZI) Smart Glasses to Enable Next Generation Surgical Instruction • PR Newswire (US) • 07/01/2024 01:30:00 PM
- Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Full Color Optical Reference Design for AI-Enabled Consumer Smart Glasses • PR Newswire (US) • 06/20/2024 02:45:00 PM
- Vuzix (NASDAQ:VUZI) and Avegant Announce Strategic Partnership to Develop Optimized Optical Modules for AI-Enabled Smart Glasses • PR Newswire (US) • 06/19/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/18/2024 08:10:05 PM
- Vuzix (NASDAQ: VUZI) Announces Its Intention to Offer High Durability Plastic Waveguide Design and Production Capabilities • PR Newswire (US) • 06/18/2024 01:35:00 PM
- Vuzix (NASDAQ:VUZI) Revolutionizes the Display Technology Industry with Introduction of Large Format Waveguide Design and Manufacturing • PR Newswire (US) • 06/13/2024 01:31:00 PM
- Vuzix (NASDAQ: VUZI) Continues to Receive Smart Glasses Reorders from Xander to Meet Rising Demand for Their Award-Winning Captioning Glasses for the Hard of Hearing • PR Newswire (US) • 06/10/2024 01:31:00 PM
- Vuzix Annual Shareholder Meeting to Be Held on June 13, 2024 • PR Newswire (US) • 06/04/2024 03:45:00 PM
- U.S. Air Force Agency Awards Vuzix (NASDAQ:VUZI) Development Contract for Augmented Reality Head Mounted Displays • PR Newswire (US) • 06/03/2024 01:31:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 06:59:02 PM
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