Microvision, Inc. Q4 2008 Earnings Call Transcript

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2009-03-20 20:27:21.0

Tags: Call Transcript, Earnings, Laser, Jeff Wilson, Seeking Alpha, Microvision

Question-and-Answer Session


Operator

(Operator instructions) Our first question comes from the line of Jed Dorsheimer with Canaccord Adams. You may proceed.

Jed Dorsheimer – Canaccord Adams

Hi. Thanks. Couple questions. I guess the first one is, you mentioned contract revenue is going to not be much, could you further quantify what not much is? Is it a couple hundred thousand? Is it a million? Any sort of idea of what we should expect for 2009 in that business?

Jeff Wilson

I'm sorry, Jed. If I said not too much, I meant not much different.

Jed Dorsheimer – Canaccord Adams

How much different?

Jeff Wilson

We expect it to be pretty much in line with this year.

Jed Dorsheimer – Canaccord Adams

All right. Perhaps I wrote it down wrong.

Jeff Wilson

We've already announced that we've signed two contracts. We announced in January and December, so, for this year. And yes, we think we'll be in line with this year.

Jed Dorsheimer – Canaccord Adams

That's helpful. And then, could you provide some more clarity around the green laser timing and what gives you the confidence that your suppliers will be able to get you the green lasers in time for your launch and what specifically is the issue around it?

Alexander Tokman

Fair question, Jed. I’ll try to be as transparent as I can. The commitment to deliver the commercial quantities by several green laser manufacturers are still very much intact. And if you wanted some external validation, I would highly encourage you to visit Corning's website and read a transcript from the most recent annual shareholders meeting.

Corning executive team is reiterated its belief in the enormous market opportunity for Pico Projectors, their significant support behind the green laser program, as well as our leadership in this emerging segment. The issues that were driving delays in the delivery of green lasers last year are being resolved and the samples we are receiving today are far closer to production from what we've seen just three, four months ago. So this gives us added confidence that we're going to have a commercial launch mid-year for the second half of 2009.

Jed Dorsheimer – Canaccord Adams

And the mid-year launch, that's for accessory products, correct?

Alexander Tokman

For accessory product, correct.

Jed Dorsheimer – Canaccord Adams

And what type of volumes are your customers that you – I assume you've already signed many of these customers for the accessory. What type of volumes are they talking about?

Alexander Tokman

 

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