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MicroVision Q1 loss narrows YOY

MicroVision Inc. said its first-quarter normalized net income amounted to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 7 cents per share.

The per-share loss narrowed 15.2% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.2 million, compared with a loss of $2.5 million in the year-earlier period.

The normalized profit margin climbed to negative 60.1% from negative 274.8% in the year-earlier period.

Total revenue increased year over year to $3.7 million from $901,000, and total operating expenses rose 49.2% year over year to $7.3 million from $4.9 million.

Reported net income came to a loss of $3.6 million, or a loss of 7 cents per share, compared to a loss of $4.0 million, or a loss of 9 cents per share, in the prior-year period.