MicroVision, Inc. (MVISW) saw its loss widen to $5.37 million, or $0.09 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $4.30 million, or $0.09 a share.
Revenue during the quarter surged 57.37 percent to $2.90 million from $1.85 million in the previous year period. Gross margin for the quarter contracted 315 basis points over the previous year period to 17.38 percent.
Operating loss for the quarter was $5.34 million, compared with an operating loss of $4.30 million in the previous year period.
Working capital increases sharply
MicroVision, Inc. has recorded an increase in the working capital over the last year. It stood at $10.10 million as at Dec. 31, 2016, up 199.73 percent or $6.73 million from $3.37 million on Dec. 31, 2015. Current ratio was at 2.39 as on Dec. 31, 2016, up from 1.44 on Dec. 31, 2015.
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