5/6/2003 6:04:00 AM
BOTHELL, Wash.–(BUSINESS WIRE)–May 6, 2003–Microvision, Inc.
(Nasdaq:MVIS), a leader in light scanning technologies, today
announced that it has received an order to develop several innovative
prototype displays for a range of in-vehicle applications.
Building on work completed in February 2003 under a prior
contract, the program of work furthers the company’s progress in
developing automotive displays and is expected to prepare the company
for product development as the next step. The specific details of each
prototype are confidential, but the company expects at least one of
the display prototypes to be showcased at a major auto show this fall.
“We’re very pleased with the growth in contract development
activity this year in support of displays for the automotive market.
This order demonstrates that we are gathering momentum on the heels of
our successful deliveries earlier this year,” said Microvision CEO
Rick Rutkowski. “We expect additional contracts and work orders this
year from a growing list of automakers and suppliers. We are very
pleased with these developments and with the interest that we see
developing with automakers around the world. The automotive display
market opportunity is huge and we believe our technology is well
suited to meet the demands for next generation displays.”
Microvision’s unique laser scanning projection displays are able
to deliver the key features needed for a variety of next generation
automotive display applications, including small size,
high-brightness, modularity, low heat and low cost. Unlike
conventional flat panel displays, Microvision’s flexible laser
scanning module can be used in a variety of locations and car models
without the need for expensive retooling.
Headquartered in Bothell, Wash., Microvision, Inc. is the
developer of a 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.
Forward Looking Statement Disclaimer
Certain statements contained in this release, including those
relating to product development, product applications, future work and
potential market opportunities, as well as statements containing words
like “believe,” “expect,” 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.
Microvision, Inc., Bothell
Matt Nichols, 425/415-6657 (media)
Brian Heagler, 425/415-6794 (investors)