Microvision Inc, a Seattle-based Virtual Retinal Display (VRD) technology company, reported a net loss for the year ended December 1996 of $3.5m on revenue of $102,200, compared to a loss of $2.9m on revenue $29,300 in 1995. The development-stage company was founded in 1993 and completed its initial public offering in August, 1996. Microvision plans to develop and commercialize its VRD technology, which allows electronically generated images and information to be projected directly onto the retina of the viewer’s eye, for use in a range of consumer applications. It expects that products using VRD technology will come to market in late 1998, but not necessarily under the Microvision name.
COMPANY RESULT: MICROVISION INC
