MicroVision Announces Preliminary 2012 Financial Results

  MicroVision Announces Preliminary 2012 Financial Results

            Full financial results to be reported later this month

Business Wire

REDMOND, Wash. -- February 7, 2013

MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature
projection display technology, today announced preliminary consolidated
financial results for the fourth quarter and full year of 2012.

For the fourth quarter of 2012, MicroVision expects to report revenue of
approximately $2.7 million, an operating and net lossof between $3.9 million
and $4.4 million, or $.15 and $.18 per share. For the same period the previous
year, MicroVision reported revenue of $1.5 million, an operating loss of $9.9
million and a net loss of $9.8 million, or $.62 per share.

For the full year of 2012, MicroVision expects to report revenue of
approximately $8.4 million, an operating and net loss of between $22.5 million
and $23.0 million, or $1.04 and $1.07 per share. For the full year of 2011,
MicroVision reported revenue of $5.6 million, an operating loss of $36.0
million and a net loss of $35.8 million, or $2.57 per share.

The company had a cash balance of $6.8 million as ofDecember31, 2012.

The increase in revenue growth is primarily due to sales to Pioneer pursuant
to previously announced orders as well as sales of the remaining inventory of
SHOWWX products. Improvement in cash burn is a result of the increased
revenue, margin and restructuring around the “Image by PicoP” ingredient brand
and licensing model.

“We expect to report improved financial results for 2012 versus the previous
year,” said Alexander Tokman, MicroVision president andCEO. “The improvement
is a direct result of the actions we took in early 2012 to transition to the
“Image by PicoP^®” ingredient brand and licensing model enabled by the
availability of next-generation HD PicoP^® display technology based on direct
green lasers.”

The company expects to report its 2012 financial results later this month.

About MicroVision

MicroVision provides the PicoP® display technology platform designed to enable
next-generation display and imaging products for consumer devices vehicle
displays and wearable displays. The company’s patented PicoP display
technology combines a MEMS scanning mirror with highly efficient laser light
sources to create vivid images with high contrast and brightness.

MicroVision is an independently recognized leader in the development of
intellectual property. MicroVision has been recognized by IEEE as a top 20 IP
portfolio among all global electronics companies, and the top U.S. Company in
the rankings. MicroVision’s intellectual property portfolio has also been
recognized by the Patent Board, in association with the Wall Street Journal,
as a top 50 IP portfolio among all global industrial companies. The Patent
Board has developed more than 50 indicators that track global patent activity
relating to companies’ innovation, technology, and science strengths.
MicroVision’s intellectual property portfolio is further recognized by having
been added to the Ocean Tomo 300 Patent Index. The Index is priced and
published by the NYSE Euronext (NYSE:OTPAT). The Index is objectively based on
the value of corporate intellectual property.

For more information, visit us on:

Website: www.microvision.com
Blog: www.microvision.com/displayground
Twitter: www.twitter.com/microvision
Facebook: www.facebook.com/MicrovisionInc
YouTube: www.youtube.com/mvisvideo

Forward-Looking Statements

The preliminary estimates above and other statements contained in this
release, including those relating to future product development and those
using words such as “expects” and “designed to,” are forward-looking
statements that involve a number of risks and uncertainties. The estimates
above are preliminary and may not be indicative of our actual reported results
following, among other things, the finalization of our quarter and year-end
closing processes and normal adjustments. Factors that could cause actual
results to differ materially from those projected in the company’s
forward-looking statements include the following: our ability to raise
additional capital when needed; products incorporating our PicoP display
engine may not achieve market acceptance, commercial partners may not perform
under agreements as anticipated, we may be unsuccessful in identifying parties
interested in paying any amounts or amounts we deem desirable for the purchase
or license of IP assets, our or our customers’ failure to perform under open
purchase orders; our financial and technical resources relative to those of
our competitors; our ability to keep up with rapid technological change;
government regulation of our technologies; our ability to enforce our
intellectual property rights and protect our proprietary technologies; the
ability to obtain additional contract awards; the timing of commercial product
launches and delays in product development; the ability to achieve key
technical milestones in key products; dependence on third parties to develop,
manufacture, sell and market our products; potential product liability claims;
and other risk factors identified from time to time in the company’s SEC
reports, including the company’s Annual Report on Form 10-K filed with the
SEC. Except as expressly required by federal securities laws, we undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, changes in
circumstances or any other reason.

Contact:

MicroVision, Inc.
Dawn Goetter, 425-882-6629 (investors)
or
Edelman
Callie Snyder, 503-471-6816 (media/PR)
 
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