Microvision Announces 2007 Results and 2008 Business Priorities

Business Wire, March 6, 2008

The company reported an operating loss for the year ended December 31, 2007 of $26.7 million compared to $29.0 million for the same period in 2006 and $7.9 million for both the three months ended December 31, 2007 and December 31, 2006.

The company reported a net loss available to common shareholders of $19.8 million for the year ended December 31, 2007 compared to $27.3 million for the same period in 2006 and $6.0 million for the three months ended December 31, 2007 compared to $8.7 million for the same period in 2006. The net loss per share was $0.40 for the year ended December 31, 2007 compared to $0.81 for the same period in 2006 and $0.11 for the three months ended December 31, 2007 compared to $0.21 for the same period in 2006.

Net cash used in operating activities was $21.3 million for the year ended December 31, 2007 compared to $27.1 million for the same period in 2006 and $4.7 million for the three months ended December 31, 2007 compared to $5.8 million for the same period in 2006. The company ended the year with $35.8 million in cash, cash equivalents and investment securities.

2008 Priorities

"In 2008 we expect to continue to be focused on our primary goal of accelerating the path to market for high volume consumer and automotive products," Tokman continued. "We are targeting the initial introduction of our first PicoP based accessory product for the end of this year. In order to fulfill this aggressive goal we must:

* Further advance PicoP product miniaturization and power reduction;

* Secure initial customers to brand, market and distribute the PicoP accessory projector; and

* Complete the supply chain structure to support global commercialization.

"In addition to the accessory product initial introduction, we also plan to:

* Secure OEM commitments for PicoP enabled display solutions, including embedded mobile consumer device projectors and vehicle displays;

* Work with our customers to further develop our innovative eyewear technology to enable light weight, small form factor, full color eyewear;

* Deliver on existing customer commitments for consumer projection, automotive and eyewear displays; and

* Increase sales of our ROV bar code scanner by at least 100% over 2007 by partnering with key application providers and large mobility solution integrators as well as traditional AIDC channels.

"We believe our PicoP display engine will meet the size, power, and image quality requirements that OEMs and ultimately consumers will demand of mobile display products. I am proud of what we have accomplished over the last two years, and continue to remain excited about our future," concluded Tokman.

Conference Call

Microvision will host a conference call to discuss its 2007 results, current business operations, and 2008 key priorities at 4:30 p.m. ET on March 6, 2008. Participants may join the conference call by dialing 888-680-0890 (for U.S. participants) or 617-213-4857 (for International participants) ten minutes prior to the start of the conference. The conference pass-code number is 81048429. Additionally, the call will be broadcast over the Internet and can be accessed from the Company's web site at www.microvision.com. The web cast and information needed to access the telephone replay will be available through the same link following the conference call.