Seeking Alpha Points-
MicroVision’s intellectual property portfolio has also been recognized by the Patent Board, in association with the Wall Street Journal as a top 50 IP portfolio among all global industrial companies. The Patent Board has developed more than 50 indicators that track global patent activity relating to companies' innovation, technology, and science strengths.
A purchase order totaling $5.8 million from Pioneer for the launch of Pioneer’s new HUD system. It’s called Cyber Navi. Pioneer is accessing opportunity to sell in Europe. Consequently, we are executing against the current orders and continue to support our partner as they move forward. Pioneer’s product is the first, it's one of a kind and they are really no competition has been established for a biggest, Pioneer has some time to market advantage because they start earlier with us and from the feedback that we have access to, it appears to be that the people will like this product.
Fundamentals improving- NOV 2013-Our revenue for the third quarter increased to $2.6 million compared to $1.8 million for the third quarter last year. And for the first nine months of 2012 our revenue increased 37% to $5.6 million compared to $4.1 million for the same period last year. Our net loss for the third quarter was $3.8 million or $0.15 per share compared to $7.8 million or $0.57 per share for the third quarter last year.
We ended the quarter with $10.7 million in cash.
THE future is clearer with GOOGLE glasses hitting the press. This excitement is good and will most likely translate to sales in the field. 80% of the people who were solicited and ask questions said that this product was revolutionary. Obviously, they need some time in the market
The green laser price for the laser diode is well within the market expectations in terms of generate and create opportunities in several different segments including consumer. This is for the first time we have positive margin on a product and big contribution comes from the fact that we are using direct green laser is not the synthetic counterparts.
FUTURE- Right now we have negotiations again with series of this prospective partners. I can’t identify them by name, but what I can tell you they represent a major players on each continent and they are directly tied into major car manufacturers who are part of this triangle to determine how to go forward. In devises ,more and more devices are equipped with the HDMI output so there is a connectivity to devices such as our and somebody else Pico Projectors.
Alexander Tokman - President and CEO
So, there are couple of questions in which people are asking. Let me just try to address each one of them. First, Samsung introduced our first cell phone with the embedded Pico Projection technology even though it's from TI, it's actually good for the market because it shows basically there is interest from one of the major players. And secondly, Samsung is spending all the market endorse to promote this technology, so it benefits everyone in the world. That’s number one. Number two, we have discussions with a series of topnotch tier 1 OEMs in the consumer space from Korea, from Japan, from North America and again we would like to not to disclose specific names,
Finally, NTT DOCOMO is a part of Pioneer’s go-to market strategy, offering wireless services and information to the system. And NTT DOCOMO happens to be the largest mobile operator in Japan.
We grew year-over-year revenue over 40% by beginning volume shipment of components to Pioneer for the launch of their Cyber Navi head-up display system ,100% from previous quarter.
. We reduced cost using operations significantly from the previous quarter by almost 40% from the same period a year ago all is consistent with the guidance given earlier. we finalized and announced a strategic agreement with Intersil for the next generation electronics for PicoP display technology.
Today NOV-2013 PicoP Gen2 display technology is the only high definition capable focus free largest screen size solution available for Pico projectors in the market. IT can be delivered in the package that is about one increase wide and less than the quarter inch thick. It is low powered while displaying up to 25 lumens. This combination of stacks make Gen2 optimized formidability but like any high tech solutions what is optimal today can and should get better as it progresses overtime.
In fact, in the third quarter alone we shipped design evaluations sample to more than 20 companies mostly in the automotive and consumer electronic space, some in industrial. So, they can begin their test and evaluation studies.
We are currently engaged in business discussions with a sub group of companies who purchase our evaluation kits prior to Q3 and who have finished their preliminary technical evaluations of our technology.
During the quarter, Osram Semiconductor announced the launch of its first direct green laser offering and called out its significance for the Pico projection market.