Oppenheimer Q2 Review on Microvision (MVIS): Coming Off the Bottom

August 3, 2012 2:22 PM EDT
Get Alerts MVIS Hot Sheet
Price: $1.23 +0.82%

Rating Summary:
    1 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Oppenheimer maintains a 'Perform' on Microvision (NASDAQ: MVIS).

Analyst, Andrew Uerkwitz, said, "Microvision reported 2Q12 revenues/EPS of $1.3M/-$0.26 vs consensus of $1.4M/-$0.34. Both contract and product revenue fell Q/Q, by 57% and 83%, respectively. The EPS beat is related to tight OpEx control and business realignment. This is expected to drive 50% reductions in cash use. Most importantly, the company signed orders with Pioneer totaling $5.8M in the past three months. Pioneer embedded MVIS's technology in the first in-vehical head-up display using lasers. Despite the lack of management guidance, we modeled positive gross margin and stronger revenue growth for the rest of 2012."

Raises FY12 loss from (1.43) to (1.24).

For an analyst ratings summary and ratings history on Microvision click here. For more ratings news on Microvision click here.

Shares of Microvision closed at $1.67 yesterday.

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