Business
Vuzix Reports Second Quarter 2019 Results
ROCHESTER, N.Y., Aug. 9, 2019 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented
About this update from Vuzix Corporation
[{"type":"text","content":"ROCHESTER, N.Y., Aug. 9, 2019 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI) (\"Vuzix\" or, the \"Company\"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, today reported its second quarter results for the period ended June 30, 2019.\n\n \nSecond Quarter 2019 Highlights\nAnnounced a Joint Development Agreement with global power management company Eaton to develop a co-branded ATEX intrinsically safe smart glasses solution based on Vuzix M-Series products Announced a long-term MicroLED supply agreement with Plessey Semiconductors, a leading technology company that designs and manufactures MicroLED displays and light source products Received two follow-on engineering services orders from an avionics partner for a customized waveguide-based HMD development program Vuzix Blade selected as the smart glasses rollout hardware for the \"SWORD™\" intelligence and threat detection solution Received and shipped Vuzix Blade Smart Glasses to NNTC, which is offering one the world's first fully autonomous AI-powered face recognition systems integrated on smart glasses Partnered with Verizon and Zoi Meet to develop and demo the world's first integration of a live multilingual transcription service on smart glasses Rolled out a series of new capabilities for the Vuzix Blade Smart Glasses, including enhanced voice control, companion app virtual touchpad control and smartphone keyboard functionality Added a series of new applications for the Vuzix Blade including a new drone interface/viewer for DJI, the number one drone supplier with over 80% of the drone market Recent Developments\nRaised $20 million in gross proceeds in a registered direct offering that closed July 2, 2019 Announced a series of positive Vuzix Blade Smart Glasses developments including: availability on Amazon.com, Alexa Built-in official certification, increasing the number of available apps to more than 70 and support of popular peer-to-peer video calling apps Vuzix Blade developer sign-ups accelerated sharply in July Received Vuzix Blade Smart Glasses follow-on orders from Vuwzer for the deployment of smart glasses-based on-demand 'virtual shopping visits' to the automotive industry Commenced shipments of M400 Smart Glasses (DVTs) to select customer and software partners Completed ANSI Z87.1 safety glasses certification for a vers...