Vuzix Corp. announced its FY16 annual result with total sales of $2.13 million and with a net loss of $19.2 million. The net sales decreased by around 22% on a yearly basis due to a sales slump in M100 smart glasses, while the net loss increased by $6.0 million on a yearly basis.
The Q4 FY16 result indicated total sales of $0.62 million and a net loss of $6.3 million. Sales have increased marginally from $0.53 million a year ago, while the net loss increased significantly from $3.5 million in Q4 FY15.
