Microvision (NASDAQ: MVIS) reported Q4 EPS of ($0.09), $0.01 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $2.91 million versus the consensus estimate of $2.7 million.

2017 Objectives

MicroVision anticipates another year of significant growth in 2017. MicroVision anticipates revenue from its planned LBS engines line of business to be in the range of $30 million to $60 million in the 12 to 18 months following the shipment of the first mass production engines which is expected in Q2 2017. Revenue in 2017 from these products is expected to be weighted to the second half of the year.

According to a recent report from Juniper Research1, smart home hardware and service take-up in entertainment, automation, healthcare and connected devices is projected to drive revenues from $83 billion in 2017 to $195 billion by 2021. This growing market for smart home devices is an example of a new product category that MicroVision believes can benefit from its LBS engine line.

In January 2017, MicroVision delivered to a top technology company the augmented reality proof of concept demonstrator it began in 2016 and signed a second phase NRE contract for that program which the company expects to complete in 2017. MicroVision also expects to deliver the proof of concept demonstrator for ADAS in 2017 that it is developing for another major technology company.

The company also plans to support its existing customers who have licensed MicroVision technology and incorporate MicroVision components in their display engine products.

For earnings history and earnings-related data on Microvision (MVIS) click here.