Vuzix Corporation VUZI has been significantly accelerating its revenue growth over the last year, CEO Paul Travers said Friday at Benzinga's Global Small Cap Conference.
Vuzix Earnings: Vuzix announced first-quarter financial results on Monday. The company reported an earnings loss of 12 cents per share, missing the estimate for a loss of 10 cents per share. It reported quarterly revenue of $3.92 million, which beat the estimate of $3.83 million.
Smart glasses demand so far in the second quarter is as high as it was in the first quarter, Travers said.
Vuzix CEO On Smart Glasses: The company's products offer the ability to connect the digital world to the real world. With each new product application, more advantages are realized, Travers said.
He named the following benefits of smart glasses:
- Increases productivity
- Eliminates travel costs
- Improves worker safety
- Lowers carbon footprint
- Reduces worker errors
- Protects worker health
Next-Gen Smart Glasses: The smart glasses and augmented reality technology company is working on a next-generation version of its smart glasses that "look and feel like a regular pair of fashion-forward glasses," Travers said.
The next-gen products are slated for introduction in the second half of 2021, he said, adding that Vuzix's products are "the future of wearable computing."
Related Link: Exclusive: Vuzix CEO Looks Into The Future With Smart Glasses On 'Power Hour'
VUZI Price Action: Vuzix traded as high as $32.43 and as low as $2.06 over a 52-week period. At last check Friday, the stock was up 4.55% at $15.86.
Photo courtesy of Vuzix.
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