MicroVision Sets Sights on Revenue Growth in 2015

MicroVision Inc. is eyeing revenue growth in 2015 as it moves from development mode into product sales and licensing mode.

Earlier this month the company licensed its PicoP miniature laser projector technology for $8 million to an unnamed Fortune Global 100 company.

Despite this early success in the new year, MicroVision reported a net loss of $18.1 million, or $0.44 per share, in 2014. That compares with a net loss of $13.2 million, or $0.47 per share, in 2013.

Annual revenue was $3.5 million, down 41 percent from $5.9 million in 2013. The company said a majority of its fourth-quarter 2014 revenue came from products, and more than two-thirds of its $5.1 million backlog comprises component orders expected to be fulfilled in the first half of 2015.

As it seeks to establish a market presence, MicroVision said it is working with several other companies to integrate PicoP technology into consumer electronics, as well as vehicle head-up displays. The Korean OEM Celluon launched two consumer products featuring its picoprojectors at the recent Consumer Electronics Show in Las Vegas, the company said.