Microvision announce preliminary 2012 financial
Microvision announced the preliminary financial results for Q4 2012. The company expects to report revenue of $2.7 million and a net loss of $4.4 million (compared to $1.5 million in revenue in Q4 2011 and $9.8 million net loss). As of December 31 2012, Microvision had $6.8 million cash balance.
The increase in revenue is mostly due to sales to Pioneer, and the improvement in cash burn rate is due to increased revenue and margin and the company's restructuring. The company expects to report its 2012 financial results later this month.