9/12/2006 8:16:00 AM
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REDMOND, Wash.–(BUSINESS WIRE)–Sept. 12, 2006–Microvision
(NASDAQ:MVIS), the leader in light scanning technologies for display
and imaging products, announced today that it has been awarded a $5.95
million subcontract by General Dynamics C4 Systems, a business unit of
General Dynamics (NYSE:GD), to supply full-color, daylight readable,
see-through Helmet-Mounted Displays (HMDs) as part of the U.S. Army’s
Mounted Warrior HMD Improvement Program. The improvement program,
managed by the U.S. Army’s Project Manager for Soldier Warrior under
Program Executive Office Soldier, has tapped Microvision to create a
full-color HMD system with reduced size, weight, and power
requirements. The contract specifies the development, design,
verification, testing, and delivery of ten full-color display units
for evaluation by mid-2007.
Mounted Warrior is an integrated soldier system designed for
armored vehicle crewmen. It integrates communications and displays
with soldier mission equipment for crew members, including vehicle
commander, driver and gunner. General Dynamics holds prime contracts
with the U.S. Army for other Warrior programs including Land Warrior,
Mounted Warrior, Air Warrior and Future Force Warrior Advanced
Technology Demonstration.
“We are very pleased to receive and begin executing on the
contract with General Dynamics,” said Alexander Tokman, Microvision
CEO. “The U.S. Army and General Dynamics are focused on finding new
and exciting technologies to be integrated into warrior systems to
enhance soldier survivability, mobility, sustainability and overall
effectiveness. General Dynamics’ leadership on the Mounted Warrior,
Land Warrior, and Air Warrior Programs is designed to provide
significant improvements in soldier performance and we believe
Microvision’s high-resolution display quality, small form-factor and
cost effective, full-color display solution can be an integral part of
these efforts.”
Microvision expects to deliver an HMD solution that will enable a
combat vehicle crew member to see real-time data and video from
multiple sources, in true full-color with complete, transparent
capabilities, designed with simplicity and comfort.
About Microvision: www.microvision.com
Headquartered in Redmond, WA, Microvision, Inc. is the world
leader in the development of high-resolution displays and imaging
systems based on the company’s proprietary silicon micro-mirror
technology. The company’s technology has applications in a broad range
of military, medical, industrial, professional and consumer products.
Forward-Looking Statement
Certain statements contained in this release, including those
relating to future technology solutions and product applications, and
statements using words such as “expects,” 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: capital market risks, our ability to raise additional
capital when needed; 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; our dependence on the defense industry and a limited number of
government development contracts; 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; the timing of commercial product launches
and delays in product development; the ability to achieve key
technical milestones in key products; dependence on third parties to
develop, manufacture, sell and market our products; potential product
liability claims, risks related to Lumera’s business and the market
for its equity and other risk factors identified from time to time in
the company’s SEC reports and other filings, including the Company’s
Annual Report on Form 10-K filed with the SEC. Except as expressly
required by the federal securities laws, we undertake no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events, changes in circumstances or
any other reason.
CONTACT: Microvision, Inc.
Matt Nichols, 425-882-6657 (media)
or
Jeff Wilson, 425-882-6625 (investors)
SOURCE: Microvision, Inc.