Vuzix Corp. (VUZI) Misses Q4 EPS by 16c

March 16, 2020 6:34 AM EDT

Vuzix Corp. (NASDAQ: VUZI) reported Q4 EPS of ($0.31), $0.16 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $1.95 million versus the consensus estimate of $2.38 million.

Management Outlook

"We are well-positioned to achieve significant top line growth in 2020, thanks to the growing success of our current and new M-Series and Vuzix Blade Smart Glasses along with new and existing waveguide-based OEM engineering services programs," said Paul Travers, President and CEO of Vuzix. "Our manufacturing operations in West Henrietta, NY are now fully operational and ready to support the expected increase in business. And while the current global economic and public health issues indicate some potential challenges for all of us, we feel our products and services will be successful even in these environments as there has never been a better time to work hands-free and remotely with AR smart glasses than today. Our Smart Glasses and the many video conferencing applications that work with them are tailor-made for reducing the need for travel and helping to maintain remote operations. Clearly, overall industry momentum is building as customers recognize the value of AR glasses and are increasingly gravitating toward the most wearable and functional products available."

For earnings history and earnings-related data on Vuzix Corp. (VUZI) click here.

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