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VUZI

Vuzix

$8.15

-0.25 (-2.98%)

15:02
07/12/18
07/12
15:02
07/12/18
15:02

Vuzix CEO says smart glasses niche markets could be 'fantastic,' in 'billions'

In an exclusive interview with The Fly, Vuzix's (VUZI) CEO Paul Travers addressed Maxim analyst Brian Kinstlinger's concerns over a potential "slower ramp of smart glasses sales" and discussed the market opportunity for the company's products: "The Maxim comments come from the fact that there's not an analyst out there that understands this industry that isn't projecting billions of dollars in revenue. The question is when that curve is really starting to happen. Admittedly, Vuzix is at the front end of the curve. But it is happening. If you just look at our numbers... two years ago we had maybe $2M in revenues and last year was $5.5M, let's say, and this year is going to be a lot more. I will say that the Maxim analyst was a bit aggressive with his numbers. All of us are hoping that this happens sooner rather than later. I can only tell you that this stuff is happening. And you know you look at the analysts' projections often they get a tad over their skis when they actually think it's going to happen. But they're often not wrong that it's going to happen. And there are niche markets that I think are going to be fantastic, that will be in the billions." "Meet the Company" is The Fly's recurring series of exclusive short interviews with Executive Officers to offer a deeper look inside the company. The remainder of this interview to follow.

VUZI Vuzix
$8.15

-0.25 (-2.98%)

01/08/18
CHLM
01/08/18
INITIATION
Target $12
CHLM
Buy
Vuzix initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Christian Schwab started Vuzix with a Buy rating and $12 price target as he believes revenue could grow nearly 10-fold by 2020 as AR/VR products start to ramp.
01/08/18
01/08/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Vuzix (VUZI) initiated with a Buy at Craig-Hallum. 2. Oneok (OKE) initiated with an Outperform at Credit Suisse. 3. Telecom Argentina (TEO) initiated with a Buy at Citi. 4. Tata Motors (TTM) assumed with a Buy at Jefferies. 5. Sandy Spring Bancorp (SASR) initiated with a Buy at Gabelli. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/20/18
MAXM
03/20/18
NO CHANGE
Target $11
MAXM
Buy
Vuzix price target lowered to $11 from $13 at Maxim
Maxim analyst Brain Kinstlinger lowered his price target on Vuzix to $11, citing a "slower ramp of smart glass sales" anticipated for 2018 and 2019 along with a Q4 revenue miss. The analyst keeps his Buy rating on the stock longer term, noting the company's "second to none" offering of smart glasses and "ample capital to support growth".
05/10/18
05/10/18
NO CHANGE

Vuzix CEO sees 2018 revenue growth "significant"
Vuzix CEO Paul Travers commented, "2018 is off to a strong start. We expect revenue to expand further in Q2 fueled by the introduction of several new smart glasses product offerings into the market during the first half of 2018. Volume shipments of M300 type-C Smart Glasses to Toshiba which began at the end of the first quarter are expected to increase significantly beginning in the second quarter. Vuzix Blade Smart Glasses volume production should begin in the coming weeks resulting in shipments to our developer community, customers and strategic partners beginning before the end of the second quarter. Vuzix added approximately 200 M300 pilot programs across a variety of industries and continues to see shifts occurring in the enterprise space as more pilot programs move to multi-site rollouts. We expect 2018 to be another year of significant revenue growth across our markets."

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