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Vuzix 3Q20 results -5

16:21 09-Nov-20

Vuzix has released its third quarter results:

• a loss of 13 cents per share misses by a penny
• from $2.8M of revenue, which misses by $400K

Management says that the pandemic is a "catalyst for much broader acceptance of enterprise smart glasses, resulting in shorter evaluation periods and increased customer adoption."  However the only quantification in its guidance is $700K of engineering contracts, a "substantial portion" of which will be realized in the current quarter. 

As I suspected, non of this or the myriad press releases on every minor company achievement translates into actually improved results.  The stock is down 12% so far after hours and the conference call is at 4:30, but I doubt I will write further about this today.

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