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MicroVision 4Q15 results ?3

09:23 08-Mar-16


The conference call has just concluded and given some good color on the production problems.  The re-ramp after the already discussed stoppage resulted in yield problems, and thus negative product gross margin.  That was fixed late year, and is expected to be resolved going forward, so Q1 should improve.  As such, management expects to grow revenue 40-70% YoY, which will require fulfillment of the backlog and new orders from Sony (and some help from Sharp).  Nonetheless, I find it telling that management refused to give bottom line or gross margin guidance.

On the technology side, management expects:
I caution against getting too carried away on the last two bullet points, as they clearly represent future development.  No expense guidance was given, either; management says it should increase only modestly, but may have "blips".  All in all, it seems that the core story is intact but progress has been rough.  I continue to think the best opportunities are in AR, and that may be quite a way off.

On 03/08/2016 08:32 AM, Esekla wrote:
MicroVision has announced results for its fourth quarter:
  • EPS loss of 9 cents, misses by 2 cents
  • on revenue of $1.8M, which misses by $1.9M
Apparently my comments on the difficulty of successfully transitioning into manufacturing remain well-made.  The press release indicates that management is aware of this and working to amend the situation.  It also indicates the potential for augmented reality, and that management is planning to move the technology back into scanning applications.  More products based on Sony's MPCL1 are expected to debut this year, along with the RoBoHon.

The conference call begins at 8:30, and I will report on it if there is more relevant information.  However, previous conference calls have been amateur hour, so that may not be the case.