Leader in innovative ultra-miniature projection display and sensing technology, Microvision, Inc. (NASDAQ:MVIS), announces that it has begun to ship samples of its new engine to customers.
REDMOND, Wash.–(BUSINESS WIRE)–
MicroVision, Inc. (MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced that it has begun on-schedule customer shipments of samples of its new, small form factor display engine.
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MicroVision announced in November that it plans to sell a display engine beginning in the second quarter of 2017. This small form factor display engine is based on the company’s proprietary PicoP® scanning technology, a laser beam scanning (LBS) approach for pico projection and 3D sensing. MicroVision plans to be ready for mass production of this engine early in the second quarter of 2017.
The small form factor display engine, model number PSE-0403-101, is a compact laser beam scanning engine measuring just 3.6 cm wide by 5.3 cm long by 0.6 cm thick with a volume of only 11.6 cubic centimeters. The sleek form factor and thinness of the engine make it an ideal choice for products such as smartphones, portable media players, tablets and other handheld electronics. A short focal length version of the engine, model number PSE-0403-102, is well suited for aftermarket head up display (HUD) applications and other applications with a fixed, short focal length.
The PSE-0403-101/2 display engine is an all-in-one unit combining an integrated photonics module (IPM) containing MEMS and lasers and an electronics platform module (EPM) containing MicroVision’s proprietary ASICS and system control software. Some customers prefer a flexible solution of the IPM and standalone MicroVision ASICS that they can combine with the electronics of the device into which the engine is embedded. The form factor of the IPM, which measures only 4.66 cubic centimeters, is a critical attribute for OEMS considering incorporating pico projectors inside their consumer products.
In addition to the PSE-0403-101/2 engines, MicroVision plans to offer two other scanning engines: an interactive display engine that can support simultaneous projected display and multi-touch interactivity with the projected images and a sensing engine for mid-range LiDAR. Samples of the interactive display engine are planned for the second quarter of 2017 with production engines expected in the third quarter of 2017. The company expects to begin shipping samples of the mid-range LiDAR engine in the second half of 2017 with production units planned for first half of 2018 availability.
MicroVision’s business model and product line offering includes display and sensing engines, licensing its patented technology and selling components to licensees for incorporation into their scanning engines.
MicroVision is the creator of PicoP® scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors. It is an advanced solution for a rapidly evolving, always-on world. Extensive research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and has been included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Wash.
For more information, visit the company’s website at www.microvision.com, on Facebook at www.facebook.com/MicroVisionInc or follow MicroVision on Twitter at @MicroVision.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
Certain statements contained in this release, including those using words such as plans, expects or similar words and those relating to future product and product applications are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the company’s forward-looking statements include the following: our ability to raise additional capital when needed; products incorporating our PicoP® scanning technology may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, we may be unsuccessful in identifying parties interested in paying any amounts or amounts we deem desirable for the purchase or license of IP assets, our or our customers failure to perform under open purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; and other risk factors identified from time to time in the company’s SEC reports, including the company’s Annual Report on Form 10-K filed with the SEC. Except as expressly required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
Shares of Microvision, Inc. (NASDAQ:MVIS) are actively moving +15.32% thus far today on the news and have traded in the range of $1.24 – 1.60 during the session. A number of research firms have recently weighed in on the stock, providing future price targets. The covering firms currently have a consensus one-year price target of $3.25 on the stock. This is according to brokerage analysts polled by Thomson Reuters First Call. This is the average number from the individual targets provided by the firms. Analysts are projecting earnings per share of $0.00 for the next fiscal quarter. For the current year, analysts are predicting earnings of $-0.30 per share according to First Call.
In looking at where the stock is trading on a technical level, the stock is trading +6.67% away from its 50-day moving average of $1.34. Based on the most recent available data, the equity is -53.57% off of its 52-week high of $3.08 and +60.98% away from its 52-week low which is $0.89.
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Today, the stock opened at $1.24 and the last bid at the time of writing stood at $1.43. During the session thus far, the equity dipped down to $1.24 and touched $1.60 as the high point. Microvision, Inc. (NASDAQ:MVIS) has a market cap of $77.14M and has seen an average daily volume of 426,222 over the past three months.
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