MVIS Chairman of the Board Purchases 35,000 MVIS Shares

Microvision Expects to Report Record Revenue

Microvision Expects to Report Record Second Quarter Revenue of $4.8 Million, a 20% Increase from the First Quarter and a 100% Increase from the Prior Year

BOTHELL, Wash.--(BUSINESS WIRE)--July 19, 2005--Microvision (Nasdaq:MVIS - News), the leader in light scanning technologies for display and imaging, announced today that it expects to report second quarter 2005 revenue of approximately $4.8 million, a sequential increase of 20% over the prior quarter and an increase of 100% as compared to the second quarter of 2004.

"We expect our second quarter revenue results to be the strongest ever reported by the company," stated Microvision CEO Rick Rutkowski. "We're looking forward to reporting a strong showing in both product revenue and contract revenue. We are in the process of finalizing our estimates of costs to complete several ongoing development projects. Since we recognize contract revenue on a "percentage-of-completion" basis, at the conclusion of this analysis, our current expected level of contract revenue could increase or decrease slightly. We recently completed the delivery of 165 Nomad ND2500s to the U.S. Army, and continue to progress on a number of commercial and defense-related development efforts, including those sponsored by Ethicon Endo-Surgery and VW/Audi as well as the laser print engine and others. We have a number of exciting developments underway and I look forward to reporting more detail when we release our second quarter financial results sometime in the next several weeks."

Comments