Microvision announced its financial results for Q1 2017

Microvision new logoMicrovision announced its financial and operating results for Q1 2017. Revenues were $792,000 (down from $3.7 in Q1 2016) and operating loss was $5.6 million (up from a loss of $3.6 million in Q1 2017). Net loss was also $5.6 million. 

Cash used in operations during the quarter was $6.7 million. As of March 31 2017, Microvision had cash and equivalents worth $7.7 million, with a $8.5 million backlog.

Microvision recently announced two large contracts - a $24 million project to develop an LBS pico projector system for a major technology company and a $6.7 million order for its small form-factor LBS pico projector towards a new projector-phone.

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