Microvision to Showcase Nomad Expert Technician System at Annual Honda Dealer Conference
BOTHELL, Wash.--(BUSINESS WIRE)--Sept. 16, 2004--Microvision, Inc. (Nasdaq:MVIS - News) today announced that it will feature the company's Nomad Augmented Vision System to over 1,000 American Honda Dealership Owners and General Managers at Honda's annual dealer meeting held in Orlando, Florida, September 21 - 23. The showcase is part of Honda's recently launched national direct marketing campaign of the Nomad System to its dealer network that offers Honda dealers a special purchase bundle and pricing for the Nomad System.
Microvision and Honda will be demonstrating the utility and ease of use of the Nomad System, which provides productivity and quality benefits to service technicians, service advisors, body shop estimators and parts personnel by having service and other relevant information superimposed on their vision as they work; right at the vehicle, in the service drive or on the move in the parts warehouse.
Microvision and Honda also featured the Nomad System to Acura dealers at the American Honda Motor Company's Acura Dealer show last month in Chicago. Microvision has reported that to date more than 70 Acura dealers have expressed interest in buying or having the Nomad System demonstrated in their dealership.
There are about 250 Acura dealers in the US, and 1,000 Honda dealers. The Acura Dealer show referenced in the PR was on August 25, or three weeks ago. It took just three weeks for 28% of all the Acura dealers in the country to express interest in purchasing Nomads or having a demo set up.
If the same basic chain of events continues for the Honda Dealer Conference on September 21, then we will have 280 Honda dealers interested in purchases or demos of Nomad by October 12 or so.
Assuming that each of the dealers that expresses interest in purchasing Nomads buys two Nomads, then we are looking at about $2.45M (at $3500/unit before discounts) of Honda/Acura Nomad purchases happening sometime in Q4.
If dealers purchase more than two Nomads each, or greater than 28% of Honda/Acura dealers come through with orders, then the Honda/Acura Nomad revenue could be a good bit higher.
My feeling is, chances are good that other car makes will hop on the Nomad bandwagon as well during this time frame -- and Microvision will likely have record product revenue in Q4, setting the stage for explosive growth in 2005 and beyond.
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