1/26/2004 9:37:00 AM
BOTHELL, Wash.–(BUSINESS WIRE)–Jan. 26, 2004–Microvision, Inc.,
(Nasdaq:MVIS), a leader in light scanning technologies, announced
today that it has been awarded an $854,000 addition to an existing
contract with Concurrent Technologies Corporation (CTC) in support of
the Office of Naval Research Battlespace Information Display
Technology (BIDT) program.
With this new award at the end of 2003, the total amount awarded
under the contract is approximately $3,250,000.
Under the new contract award, Microvision will deliver a number of
next-generation Nomad Augmented Vision Systems in 2004. Microvision is
also to complete work on an advanced, next-generation MEMS
(micro-electro-mechanical systems) scanning device designed to be
lower weight and significantly lower cost than existing designs. The
new scanner would then be integrated and demonstrated within a
“The next-generation Nomad deliveries are expected to provide BIDT
with the small, lightweight, low-power, wireless version of our
daylight readable, see-through displays,” stated Rick Rutkowski,
Microvision’s CEO. “Together with the Nomad deliveries, the advanced
scanning device work is anticipated to significantly contribute to
meeting BIDT programmatic goals while simultaneously being leveraged
into the military and commercial sectors. Small, low-power,
cost-effective displays that are high-brightness and see-through can
be deployed across diverse applications ranging from dismounted
infantry to Homeland Security first responders to commercial and
military vehicle maintenance.”
About Microvision: www.microvision.com
Headquartered in Bothell, Wash., 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.
Microvision has been working with Canon, BMW, the Electronics
Research Lab of Volkswagen of America and others to develop a number
of display and image capture product applications based on its
proprietary scanned beam technology.
About Concurrent Technologies Corporation (CTC): www.ctc.com
CTC is an independent, nonprofit, applied research and development
professional services organization providing management and
technology-based solutions to a wide array of clients representing
state and federal government as well as the private sector.
Established in 1988, CTC operates from 34 locations throughout the
United States with a staff of approximately 1,200 employees.
Certain statements contained in this release, including those
relating to timing and achieving contract completion, product
performance and applications, as well as statements containing words
like “believe,” “expect,” “anticipate” and other similar expressions,
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 ability to obtain financing; 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, 2002, and its Quarterly Reports on Form 10-Q.
CONTACT: Microvision, Inc.
Matt Nichols (media), 425-415-6657
Brian Heagler (investors), 425-415-6794
SOURCE: Microvision, Inc.