2/28/2002 6:02:00 AM
BOTHELL, Wash., Feb 28, 2002 (BUSINESS WIRE) —
Company affirms projection of triple digit revenue growth in 2002
(Nasdaq:MVIS), the leader in light scanning technologies, today announced that
it will host its 2001 financial results conference call on Thursday March 7,
2002 at 8:00 a.m. PT.
Participants may join the conference call by dialing 800/997-8642 (for U.S.
participants) ten minutes prior to the start of the conference. International
participants can dial 973/694-6836. Additionally, the call will be broadcast
over the Internet and can be accessed from the company’s web site at
www.mvis.com. A telephone replay of the call will be available through 11:00
p.m. ET March 14, 2002 and can be accessed by dialing 800/428-6051 (for U.S.
participants) or 973/709-2089 (for international participants). The confirmation
code is 234191.
The company indicated that it will report 2001 revenue in excess of $10.5
million, in line with its recent revenue guidance, and including record revenue
in the fourth quarter. The company also affirmed its expectation that 2002
revenue will grow at a rate of 125 to 150 percent versus 2001, and that it
expects to begin the year with by far the strongest first quarter in the
“The company has successfully completed the pilot production, vendor quality
assurance and field qualification phase of the Nomad display system launch,”
said Microvision CEO Rick Rutkowski. “We received excellent feedback from the
first Nomad units delivered to customers and are now ramping production of the
Nomad display, in response to increasing order and quotation activity from our
direct sales effort. We also expect to report on early successes and strong
activity in the development of qualified channel partners for both the Nomad
display and the Flic barcode scanner. I look forward to discussing our results
and outlook in greater detail in our upcoming conference call.”
About Microvision: www.mvis.com
Headquartered in Bothell, WA, 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
About Lumera: www.mvis.com
As a subsidiary of Microvision, Inc., Lumera is a world leader in the
development of electro-optic devices based on proprietary optical polymers. The
company plans to deliver superior and unique component solutions to optical
systems suppliers. Lumera plans to supply standard and custom components to
systems providers in multiple high-growth product categories.
Forward-Looking Statements Disclaimer
Certain statements contained in this release, including projections of revenues,
plans for product development, and future operations, as well as statements
containing words like “believe,” “anticipate,” “estimate,” “intend,” “seek,”
“indicated,” “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 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; 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, 2000 and
its Quarterly Reports on Form 10-Q.
Brian Heagler, 425/415-6847 (investors)
Matt Nichols, firstname.lastname@example.org (media)
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