Vuzix Issues Update Letter to Shareholders

PRNewswire 27-Feb-2019 9:41 AM

ROCHESTER, N.Y., Feb. 27, 2019 /PRNewswire/ -- Vuzix® Corporation (NASDAQ:VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets, is pleased to announce that the Company has issued a letter to shareholders to review recent events and provide an outlook of what Vuzix expects to achieve in the coming quarters.

The Shareholder Letter provides a recap of some of our 2018 achievements and CES 2019, as well as management's commentary on our leading position in the enterprise smart glasses market and expectations for continued growth through 2019.

Looking Ahead in 2019

• Vuzix expects to grow its commercial footprint globally as more and more companies discover and embrace the use of Smart and AR glasses
• Vuzix expects continued growth for enterprise sales of its M-series smart glasses, with the potential to close and deliver against a series of much larger deployment orders
• Vuzix continues to ramp production of the Blade and expects significantly more units to be sold in 2019 than in 2018
• Vuzix plans to introduce new M-Series and Blade smart glasses during 2019 that incorporate new processors that offer significant performance improvements over its existing products
• Vuzix expects to expand both new and existing OEM relationships as the year progresses, ultimately leading to new and growing sources of revenue

To read the complete shareholder letter, please click https://ir.vuzix.com/shareholder-letter.

About Vuzix Corporation

Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 144 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2019 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ:VUZI) with offices in Rochester, NY, Oxford, UK, Barcelona, Spain and Tokyo, Japan.  For more information, visit Vuzix website,  Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to M300, Blade, OEM opportunities, future business opportunities, new products and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, CFA, Director of Investor Relations, Vuzix Corporation
ed_mcgregor@vuzix.com Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com

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SOURCE Vuzix Corporation