ROCHESTER, N.Y., Oct. 28, 2015 -- Vuzix® Corporation (VUZI) , ("Vuzix" or, the "Company"), a leading supplier of video eyewear and smart glasses products in the consumer, enterprise and entertainment markets, is pleased to announce that the company is seeing growing commitments for orders of M100 Smart Glasses from enterprise customers, as well as rising interest from leading technology companies in partnering with Vuzix on enhancements for the M100. Various customers have completed pilot adoptions of the Vuzix M100 Smart Glasses product in their work environments. As a result, the Company's order book is growing, as customers convert these pilots to commercial commitments, not just in North America, but in Europe, Asia, and all over the globe.
"We are excited to see the momentum for Smart Glasses begin to build. We believe this trend will continue to grow and expect 2016 to be a much improved year for Vuzix as we see the benefits from our hard work laying the groundwork for successful smart glasses implementations." said Paul Travers, President and Chief Executive Officer of Vuzix.
Some examples of this recent growth include XOEye Technologies of Nashville TN, who deliver custom applications via their proprietary cloud-based Vision platform to facilitate remote support, training, workflow enhancement, and more. As part of production deployments to their North American customers, XOEye has recently accelerated orders to Vuzix for hundreds of M100 Smart Glasses. XOEye is expecting growing demand this year and into the first quarter of 2016.
In another example, after extensive piloting, Bechtle is beginning to rollout vision picking into live production using Vuzix M100 Smart Glasses in their Neckarsulm, Germany distribution center. Bechtle, one of Europe's largest e-commerce IT providers, is known for leveraging the latest technology to deliver over 56,000 IT products to their clients, with the industry's highest service levels. Using the Vuzix M100 for vision picking drives labor savings and, more importantly, significant increases in accuracy. It is the first of many potential use cases for M100 Smart Glasses to go live within the Bechtle warehouse workflow systems.
Further information will be released at the Company's upcoming financial review conference call to be held in the first half of November.
About Vuzix Corporation
Vuzix is a leading supplier of Video Eyewear and Smart Glasses products in the consumer, commercial and entertainment markets. The Company's products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 41 patents and 15 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2015 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to the order increases and corporate rollouts of Vuzix smart Glasses and the market success and technological advancements of Vuzix products, among other things, and the Company's leadership in the Video Eyewear, VR and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov ). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
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