Microvision (MVIS) Reports In-Line Q3 EPS, Beats on Revenues

Microvision (NASDAQ: MVIS) reported Q3 EPS of ($0.07), in-line with the analyst estimate of ($0.07). Revenue for the quarter came in at $6.1 million versus the consensus estimate of $5.24 million.

The following financial results are for the three and nine months ended September 30, 2017, compared to the same periods of 2016:

• Revenue was $6.1 million for the third quarter of 2017 compared to $4.0 million for the third quarter a year ago. Revenue for the first nine months of 2017 was $8.3 million, compared to $11.9 million for the same period in 2016.
• Operating loss for the third quarter of 2017 was $5.2 million, compared to $4.1 million for the third quarter a year ago. Operating loss was $16.4 million for the first nine months of 2017, compared to $11.1 million for the first nine months of 2016.
• Net loss for the third quarter of 2017 was $5.2 million, or $0.07 per share, compared to $4.1 million, or $0.08 per share, for the same quarter a year ago. Net loss was $16.4 million, or $0.23 per share, for the first nine months of 2017 compared to $11.1 million, or $0.22 per share, for the first nine months of 2016.
• For the third quarter of 2017, cash used in operations was $5.7 million compared to $3.8 million for the same period in 2016. For the nine months ended September 30, 2017, cash used in operations was $7.8 million compared to cash used in operations of $10.9 million for the same period in 2016. The cash use for the first nine months of 2017 reflects a $10 million upfront payment received in the second quarter under the development and supply contract for a leading technology company.

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

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