Vuzix Heads in to CES with a Full Balance Sheet and Broad
Product Line
SANTA MONICA, CA, Dec. 6, 2016 /PRNewswire/ - Financial Press
Covers Vuzix Corporation (NASDAQ: VUZI):
Vuzix Corporation, a leading supplier of Smart Glasses,
Augmented Reality (AR) and Virtual Reality (VR) technologies and
products for the consumer and enterprise markets, was recently
reviewed by an independent research analyst. In the report, Vuzix
was given a $10 price target based on
its exciting range of innovative products and a recent improvement
in the Company's financials. Vuzix will be showcasing its broad and
expanding product line including its flagship M300 Smart Glasses at
the Consumer Electronics Show (CES) to be held in Las Vegas, NV in January.
Fresh off a recent $14 million
equity raise, Vuzix heads into 2017 poised for significant growth,
according to a research report on the Company by Chardan Capital
Markets, LLC. The report cited volume production of the M300 as
well as the sale of the iWear consumer product as key revenue
drivers 2017.
With enough capital for the next 12 months and a full balance
sheet, Vuzix can focus on the development and rollout of new
innovative products including the M3000 which it plans to introduce
next year. The Company has made significant progress on its product
development and volume shipments of its flagship M300 Smart Glasses
in the US and Europe.
The report focused on projected sales of the Company's current
product, the M300, a product that the Company believes targets a
market that is "at least" 10 times larger than the market for the
M100, the first generation of the Company's flagship Smart Glasses
product. Sales of the M100 for the first two years was around
$3 million. If the market for the
M300 is 10x larger as Vuziz suggests, Vuzix should be looking at
sales of around $30 million in the
first 12-24 months of the M300's introduction.
The report also centered on the rollout of the M3000, the next
generation in Smart Glasses and the Blade 3000, the Company's Smart
Sunglasses. Vuzix stated the M3000 has been released to production
engineering for tooling and volume production is expected by the
summer 2017. The Blade 3000 is expected to be released by the fall
of 2017. The Blade 3000 received four International CES Innovation
2017 awards and will be showcased at CES early next year.
With an aggressive rollout strategy and the capital to execute,
the research report by Chardan Capital Markets summarized why it
remains as bullish as ever on Vuzix:
"Our thesis on the stock is unchanged: 1) the company is the
leader in the nascent smart glasses space. 2) the technology has
the potential to transform and increase productivity in many
different industries 3) the technology can become the basis
for a new consumer and business platform for communications and 4)
because of the above the potential market is extremely large
and has driven private market valuations for companies in the space
to multi-billion dollar levels...."
Legal Disclaimer: Financial Press Media Group, Inc. is not
registered with any financial or securities regulatory authority
and does not provide, nor claims to provide, investment advice or
recommendations to readers of this release to buy, sell or hold any
securities. Investing intrinsically involves substantial risk and
readers are reminded to consult an investment professional and
complete their own due diligence, including SEC filings, when
researching any companies mentioned in this release. This release
is based upon publicly available information and, while vetted, is
not considered to be all-inclusive or guaranteed to be free from
errors. With respect to Section 17(B) of the Securities Act of 1933
and in the interest of full disclosure, we call the reader's
attention to the fact that Financial Press Media Group, Inc. may
have received compensation from the companies mentioned in this
release.
SOURCE Financial Press Media Group Inc.