What developers have done with display technologies leaves most consumers with a look of pure amazement on their faces. Years ago, a wide screen television was a luxury reserved only for the wealthy and the reality was that the picture, while large, was pretty poor quality.
Obviously, there has been a significant evolution in the television technology and people still love their big TVs at home, but a growing theme today is "personal and portable" in high-tech. On a different level, the boom of the iPad™ and similar devices proves this point as to how much consumers love their gadgets and portability of products.
Based in Rochester, New York, Vuzix Corp. (TSX-Venture:VZX) (OTCBB:VUZI) has been a pioneering force in manufacturing video eyewear and personal display devices for the mobile video, entertainment, defense and commercial markets for 14 years. While there may be a particular flair to the company with its line of cutting-edge high-resolution video eyewear for personal use which can be perceived as the epitome of the future of mobile entertainment, the Company is multi-dimensional and is engaged in many other areas with their technologies.
In fact, the Vuzix roots are tied to defense research and development of next generation displays and transformed into the unique consumer applications which have won them many Electronics Show and product awards.
Vuzix also has entered into the medical field and as described on their website is "partnering with companies in adapting its technology and delivering products for use in the dental patient distraction, dental surgery, 3D surgery, and low-vision assistance markets." As mentioned, the Company has a deep history involved in defense applications.
Its display system technology is used in thousands of military and other partnering company’s solutions for night vision as well as other applications. Of significant value is the Company's contract with the U.S. Army’s Future Force Warrior Program for which Vuzix supplies head-mount displays. Moreover, Vuzix has partnered with the United States Special Operations Command (USSOCOM) to deliver next generation displays for warfighters.
Today, Vuzix announced the receipt of a $1.9-million follow-on production order for display engine electronics for the US Army's Thermal Weapon Sight program. This order supports continued production of Vuzix' low power display electronics for the Light, Medium, and Heavy Thermal Weapon Sights.
The contract is slated to be delivered over the next six to nine months; providing solid revenue to complement the other cash flow streams. According to Vuzix President Paul Travers, "Vuzix is part of a three-company subcontracting team to the U.S. military delivering our proprietary, high-reliability, low-power electronics modules. We look forward to additional orders for our products used in thermal weapon sights, thermal night vision programs, and the upgrades to the low-light image intensifiers currently in the field."
Interestingly enough, shares of Vuzix, which as we indicated above, are dually listed in Canada and the U.S., are not garnering much positive attention with today’s news, but this could be a gift-wrap situation for interested investors. Shares are making a slow and steady climb since hitting $0.055 in September 2010 (and briefly touching a nickel in the opening days of 2011).
Price swings have seen the price often break through a dime only to settle back down again at a higher low; a feature that technical traders look for regularly. With continued news of contracts in the millions of dollars, Vuzix Corp. just could be waiting for the catalyst that creates a clear investor vision for upward price movement.
