Vuzix Corporation (VUZI) saw its loss widen to $6.33 million in the quarter ended compared with $3.51 million a year ago.

Revenue during the quarter grew 14.28 percent to $0.62 million from $0.54 million in the previous year period. Gross margin for the quarter stood at negative 90.60 percent as compared to a positive 4.88 percent for the previous year period.

Operating loss for the quarter was $6.29 million, compared with an operating loss of $3.21 million in the previous year period.

"We are very optimistic about the outlook for 2017, not only for our own direct products, but for our OEM partners solutions like the Toshiba Corporation's Smart Glasses developed and manufactured by Vuzix," said Paul Travers, president and chief executive officer of Vuzix. "With over $14.5 million in cash and equivalents as of December 2016, the commencement of the volume production ramp-up for the M300 and the enthusiastic response we have seen from our early customers, in 2017 Vuzix is seeing the Smart Glasses market finally start to accelerate. Additionally, with the development of our expanded waveguide volume production capabilities for the future products like our M3000 and B3000 waveguide based Smart Glasses products, we believe these efforts together will result in a much stronger fiscal 2017, along with substantial revenue growth."