Microvision Inc (MVIS)

[Slojab]

MicroVision Announces Third Quarter 2018 Results

MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced results for the quarter ended September 30, 2018.

Revenue for the third quarter of 2018 was $11.6 million, compared to $5.4 million for the third quarter of 2017. MicroVision's net profit for the third quarter of 2018 was $0.3 million, or $0.00 per share, compared to a net loss of $5.8 million, or $0.08 per share for the third quarter of 2017.

“I am pleased with the progress we made in Q3 while targeting Tier 1 technology leaders who have the capabilities to bring our innovative solutions to market. During the quarter, we completed the technology transfer to our display-only licencee that we announced in May and continue to make significant progress on our product development,” said Perry Mulligan, MicroVision’s Chief Executive Officer. “Based on the team’s execution, I believe we are positioned to potentially support the launch of three product families during the second half of 2019, which could position us to achieve profitability in late 2019. To support these product launches, we are now working with our module manufacturing partner to be ready for our 2019 sales opportunities and to minimize the associated working capital requirements,” Perry added.