Business
MicroVision Announces Fourth Quarter and Full Year 2019 Results
REDMOND, Wash., March 11, 2020 (GLOBE NEWSWIRE) -- MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display and sensing
About this update from Microvision, Inc.
[{"type":"text","content":"REDMOND, Wash., March 11, 2020 (GLOBE NEWSWIRE) -- MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced fourth quarter and full year 2019 results consistent with the preliminary results announced by the company on February 25, 2020.\n Revenue for the fourth quarter of 2019 was $4.6 million, compared to $1.8 million for the fourth quarter of 2018. MicroVision's net loss for the fourth quarter of 2019 was $3.3 million, or $0.03 per share, compared to a net loss of $11.9 million, or $0.13 per share for the fourth quarter of 2018. Revenue for full year 2019 was $8.9 million, compared to $17.6 million for full year 2018. MicroVision's net loss for full year 2019 was $26.5 million, or $0.24 per share, compared to a net loss of $27.3 million, or $0.31 per share for full year 2018. “We are currently actively engaged with multiple interested parties to evaluate various opportunities to license our IP as well as other strategic alternatives. The management team and I are committed, with a sense of urgency, to find a monetization path through licensing to support our go forward strategy,” said Sumit Sharma, MicroVision Chief Executive Officer. “In addition, we are continuing to engage with automotive OEMs and Tier 1 suppliers having presented our technology roadmap and have received positive feedback on our products and potential partnership structures,” Sharma added. Financial Results Conference Call The company will host a conference call today to discuss its fourth quarter 2019 results and current business operations at 2:00 p.m. Pacific Time today by accessing the Investor Relations section of MicroVision’s web site on the Investor Relations Events Calendar page at https://microvision.gcs-web.com/investor-event-calendar or dialing 1-877-883-0383 (for U.S. participants) or 1-412-902-6506 (for participants outside of the U.S.) ten minutes prior to the start of the call using pass code number 4196370. The conference call will be available for rebroadcast from the Investor Relations section of MicroVision’s web site on the Investor Relations Events Calendar page. About MicroVision MicroVision is the creator of PicoP® scanning technology, an ultra-miniature sensing and projection solution based on the laser beam scanning methodology pioneered by the company. Micro...