10/17/2002 6:32:00 AM
BOTHELL, Wash., Oct 17, 2002 (BUSINESS WIRE) — Microvision, Inc.
(Nasdaq:MVIS), a leader in light scanning technologies for personal displays and
imaging solutions, today announced that it has entered into an agreement with
Aircraft Spruce & Specialty Co. for the sale and distribution of the Nomad
Personal Display System. Aircraft Spruce & Specialty (www.aircraftspruce.com) is
the largest distributor of aircraft materials, kit components and avionics
supplies for the General Aviation industry.
Under the agreement, Aircraft Spruce & Specialty will market and distribute the
Nomad System as a wearable heads-up display (HUD) coupled with a full Electronic
Flight Instrument System (EFIS) operating independently of all avionics on the
aircraft. Utilizing the head-worn Nomad Personal Display as a HUD, coupled with
a full EFIS, pilots will have a back-up system for the primary flight
instrumentation.
“Our distribution agreement with Aircraft Spruce & Specialty represents an
important milestone for Microvision,” stated Bruce Westcoat, aviation marketing
manager for Microvision. “This is our first large-scale distributor to join our
channel development program and recognize the growing opportunity for the Nomad
System. Aircraft Spruce & Specialty is well known for their introduction of
innovative products, excellent customer relationships and service. With two
distribution centers in the U.S. and international sales representatives in nine
countries, Aircraft Spruce & Specialty currently provides same-day shipment of
over 2,000 orders per day through its on-line and print catalog, as well as
handles hundreds of retail walk-in customers at its facilities in Corona, CA,
and Griffin, GA. With over 500,000 active general aviation pilots in the U.S.
alone, we see tremendous market potential for the Nomad System to provide an
important safety-enhancing visualization tool.”
Jerry Aguilar, marketing director at Aircraft Spruce, stated: “We are excited
about what the Nomad System offers pilots in the way of safety. We carry over
30,000 products, but the Nomad System is totally unique. The Nomad System
provides a wearable display with a see-through format. This enables the pilot to
focus outside the cockpit and increase situational awareness with the Nomad
System acting as an independent back-up system for the primary flight
instrumentation. This product goes a long way toward meeting the demand from
pilots for systems that increase safety. We expect to see a positive sales
response from pilots for the Nomad System.”
Based on Microvision’s patented light scanning technology, the Nomad Personal
Display System is a high-resolution head-worn display that presents images and
information to the user on a see-through, virtual 17-inch display. This unique
personal display enables hands-free access to information such as diagrams,
instrumentation, maintenance records, moving maps and interactive training
manuals, superimposing the information on the user’s view and creating
“augmented vision.” The Nomad System features full daylight-readability,
allowing users to view high-contrast images in even the most challenging ambient
lighting conditions. High-quality, Super VGA resolution makes the Nomad System
immediately compatible with a broad range of existing applications and content.
From flight paths to factory floors, surgical suites, and more, the Nomad System
can deliver major improvements in productivity, quality and safety for virtually
any type of manual task. The company is targeting applications for workers in
four vertical markets — industrial, aerospace, medical, and military — that
enable customers to keep information in front of people engaged in manual tasks
or on the move, allowing access to information at the point of task and
information, anywhere.
About Microvision:
The company, located on the web at www.microvision.com, is headquartered in
Bothell, Washington. Microvision Inc. is the developer of the patented retinal
scanning display technology and a world leader in micro miniature optical
scanning technology for display and imaging applications. The company’s
technology has applications in a broad range of military, medical, industrial,
professional and consumer information products. Nomad is a trademark of
Microvision, Inc.
Forward-Looking Statement
Certain statements contained in this release, including those relating to
product marketing, distribution and applications, market potential and expected
sales response, are forward-looking statements that involve a number of risks
and uncertainties. Factors that could cause actual results to differ materially
from those projected in the company’s forward-looking statements include the
following: market acceptance of our technologies and products; our financial and
technical resources relative to those of our competitors; our ability to keep up
with rapid technological change; government regulation of our technologies; our
ability to enforce our intellectual property rights and protect our proprietary
technologies; the ability to obtain additional contract awards and to develop
partnership opportunities; the timing of commercial product launches; the
ability to achieve key technical milestones in key products; and other risk
factors identified from time to time in the company’s SEC reports, including in
its Annual Report on 10-K for the year ended December 31, 2001, and its
Quarterly Reports on Form 10-Q.
CONTACT:
Microvision, Inc., Bothell
Matt Nichols (media), 425/415-6657
Brian Heagler (investors), 425/415-6794
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