Vuzix 4Q21 results and eMagin schedule -4
The Vuzix board has now approved the $25M buyback. There is no guarantee that it will be executed, but even if it was this would represent less than 7% of shares at current prices, which have rebounded to pre-earnings levels well above $5.
On 3/1/22 16:31, Esekla wrote:
Vuzix has released its fourth quarter results:
Vuzix has been pumping its wares at MWC and getting at least minor traction with customers, but virtual reality has faded of late. VUZI is finally back below $5 after hours, and I promised to report the numbers. However, I continue to find management amateurish at best and think talk of share repurchases is ridiculous. With other world events and far better opportunities, even the GRoDT space, I am unlikely to comment on the conference call, which is beginning now.
- a loss of 27 cents per share misses by 15 cents
- from $3.3M of revenue, which misses by $0.7M
- contemplating $25M share buyback for the coming year
- yet has not put quantification of any kind on its outlook
The same is likely to be true for eMagin, which has scheduled its fourth quarter report for the morning of March 10th. No analysts still cover the company, and though it could benefit from increased military interest and/or product yields, I doubt I will write about the event. Questions are always welcome.