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Nov 8th, 2012
MicroVision hopeful as cash burn is cut again
Laser pico-projector developer benefits from Pioneer deal but is still making a significant loss.
MicroVision, the US-based developer of laser pico-projectors, has posted an increase in sales and reduced cash burn for its third fiscal quarter of 2012, though the company continues to mount up losses.
Meanwhile, MicroVision’s losses continue to mount. Despite the Pioneer business, a lower-cost licensing model and improved profit margins thanks to the growing availability of direct-emitting green laser diodes (DGLs), the Redmond, Washington, firm still made an operating loss of $4 million in the latest quarter.
That is a big improvement on previous results – the company has racked up total losses of close to $100 million since the start of fiscal 2010 – but with just $10.8 million in cash on its balance sheet, MicroVision currently only has enough money to operate through the second quarter of 2013.
By then the company is hopeful that its customer base will have expanded. Discussions with top-tier smart phone OEMs looking to incorporate the projector technology into their products are said to be ongoing, while the emergence of a second volume supplier of DGLs in the form of Germany’s Osram Opto Semiconductors should help to make pricing of the key components more competitive.
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