Oppenheimer reiterated a Perform rating on Microvision (NASDAQ: MVIS) following the company's 3Q15 earnings report. MVIS reported 3Q15 revenues of $2.4M, and loss per share of -$0.07 vs. the Street's $3.9 and -$0.07 estimates.

Although MVIS missed expectations, Sony's launch of the MP-CL1, and Sharp's announced RoBoHon robot mobile phone, are seen as positives for the quarter.

Analyst Andrew Uerkwitz commented, "Although 3Q15's top line missed expectations, we see another positive quarter for Microvision. Tier-1 partner Sony launched its integrated consumer projector, and Sharp also announced a product with MVIS technology. Backlog stands at a solid $13.5M, with $350,000 attributed to the Sharp deal, and MVIS expects this backlog to be recognized over 4Q and 2016. Management indicated that it continues to work on several new opportunities with OEMs, and that the company continues to develop enhanced pico projection solutions, showing customers higher lumen output prototypes. Despite the positive indicators, we remain sidelined on a balanced risk/ reward trade-off."

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Shares of Microvision closed at $2.90 yesterday.