MicroVision has announced that it expects revenue for the fourth quarter of 2017 in the range of $2.4 million to $2.7 million and full year 2017 revenue in the range of $10.7 million to $11.0 million.
Revenue in the fourth quarter of 2017 was made up primarily of contract revenue. MicroVision had planned to recognise $4.3 million of product revenue during the fourth quarter by completing the remainder of a previously announced $6.7 million order. However, the customer requested a deferment in taking receipt of the product until 2018. MicroVision plans to ship the product in the first quarter of 2018 and settle the balance in the second quarter.
MicroVision will discuss its financial and operating results for the fourth quarter and full year 2017 on a conference call later this quarter.
