Microvision Tracker - Q2/2012

Microvision reported its Q2 results on August 2nd and I’m glad to see the stock didn’t tank 20% following the conference call. Long term shareholders know exactly what I’m talking about. For all those who said Microvision would be bankrupt in the near term may have to extend their forecast. It seems Microvison has enough cash, which they have raised through equity offerings (14.6million), along with significantly reducing operating costs, to keep the lights on for the next 12 months. CEO, Alexander Tokman, stated yet again that prospective customers, whom received evaluation kits, are very pleased with Microvision technology but at the moment Pioneer is in the spotlight. Pioneer increased its order of Pico Gen2 engines by 1.4 million which brings their total order to 5.8million. Pioneer HUD system, Cyber Navi, has received excellent reviews and has put a significant amount of capital and effort into its sales and marketing. Direct green laser are still a hot topic and its anybody best guess on who is providing green lasers to Pioneer , however, Sony along with Sumitomo, just jumped into the direct green laser market which is a positive sign that the direct green laser market is real and is becoming increasingly competitive. Microvision also mentioned it will stop producing the ShowWX but will continue to sell the product until inventories are exhausted.

Long term shareholders have always known that the Microvision’s PicoP display engine was the best in the industry. However, in the past, Microvision was never able to secure a large reputable OEM. Instead of signing with Apple, which was widely speculated, Microvision signed with Uniden. Then there was Nioncom’s multi-million dollar order, which they landed up backing out of leaving Microvision with a massive backlog of display engines. But this time it’s different, Pioneer is a major reputable OEM, the HUD is a real product along with a large scale sales and marketing campaign,  the reviews are great, and there are plans for a worldwide launch. Expect Pioneer's orders for Microvision's display engines to continue to grow. As direct green lasers come into production in greater volume, expect Microvision to sign additional orders with various reputable companies.

Microvisions PicoP Gen2 engine is no secret, it is the best pico projector display engine in the market today. I leave you with a portion of the transcript from the conference call which Alexander Tokman discusses a personal experience with the Samsung Galaxy Beam.

 I have a personal experience with this cell phone recently at the Society of Information Display Conference in Boston. When I finished my speech, one of the Samsung guys came and showed it to me before they even launched it. And he put it out and started projecting the image, adjusting focus. So, the image looked pretty good, but it was small because it’s not bright enough. It was small. At the same time, I had – we developed one of the prototypes using Samsung Note with our projection technology. So, I took it out of my pocket and projected the image side-by-side with him, and my image – our image was about five times bigger and brighter than – and no focus adjustments than what Samsung Beam was. And I remember there were several people around us, looking around and they look at Samsung guy and they say, “Listen. How come you do not put their technology inside?”

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Full Transcript of Microvision's Q2/2012