MicroVision Sees Significant Revenue Growth In 2017 - Quick Facts

(RTTNews) - While reporting its third-quarter financial results today, MicroVision Inc. (MVIS) said it expects to reach the upper half of its guidance for fiscal 2016 with revenue estimated between $14.5 million and $15 million.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $14.53 million. Analysts' estimates typically exclude special items.

In the third quarter, MicroVision made significant progress in its efforts to advance its technology for light detection and ranging or LiDAR 3D sensing and augmented reality or AR applications with the signing of development agreements with two world leading technology companies.

The combined value of the contracts is nearly $1 million and both are expected to be completed in 2017.

MicroVision said it plans to begin selling laser beam scanning or LBS engines in 2017 for market opportunities not addressed by current solutions.

Based on early indications of interest from various potential customers, MicroVision anticipates that demand for these engines could result in revenue ranging from $30 million to $60 million over the 12 to 18 months following availability of the first production units.

MicroVision expects significant revenue growth in 2017, and the revenue from these new products is expected to be weighted to the second half of 2017.