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Vuzix 1Q20 results and dilution ?3
14:58 11-May-20
Vuzix has reported its first quarter results:
- a loss of 18 cents per share misses by 1.5 cents
- from $1.5M of revenue, which misses by $500K
Management says that sales for the current quarter have already
exceeded first quarter results, but that merely puts it on track
to meet early analyst estimates for $3M of revenue. Nonetheless,
VUZI has risen to $2.75 and also announced that it was able to
sell 5M shares in an institutional placement
for $2.25 each. I see this as having more to do with the company
issuing one
news item
after another
with zero
quantification of any
business impact.
Thus, I have no interest in shares above $2 and will only review
the conference call if they breach that level or someone asks
about it.
The only point of real interest here is that OLED investors might
want to note that the next generation of VUZIX waveguides is based
on MicroLEDs.