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Thursday, August 11, 2016

“Another of our strategic growth initiatives to expand into commercially attractive markets has been to realign our sales and marketing resources to focus on high growth areas in the industrial, medical device and consumer sectors where our advanced optics and OLED microdisplay technologies are at the cutting edge of product development. We believe our new strategy is working as evidenced by some recent successes. During the first six months of 2016, we expanded our active customer count by 11% to 108 customers. And, in the second quarter, we were awarded an $825 thousand order with a major medical device company, the largest single order in this market in the Company’s history.
“Finally, we are excited about our upcoming consumer product offerings. We have leveraged our microdisplay and optics technology, combined with our manufacturing capability, to develop affordable, high performance wearable and handheld products for the broader consumer market. We plan to release two products in the fourth quarter of 2016. In addition to the expected revenue growth from this new channel, the higher production volumes are expected to lower our unit costs and raise our overall product margins.”

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