ROCHESTER, N.Y., April 16, 2019 — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to announce several positive developments for its Vuzix Blade® AR Smart Glasses. Most importantly, production yields and rates have been increasing and the Company can now offer near immediate delivery on new orders on its website.
Production yields for optical waveguides, an internally manufactured product in the company’s Rochester-based headquarters and a key component in the Vuzix Blade, have continued to improve. As a result, the Company’s manufacturing floor has been able to accelerate and expand production of Blade Smart Glasses, as evidenced by the recent decrease in shipping time from 3-4 weeks to “in stock” as indicated of the Company’s website. Further plans remain in place to realize additional production increases and cost reductions over the balance of 2019.
Additionally, several popular apps for the Vuzix Blade are now available for consumer use at the Vuzix App Store. The Vuzix Blade Yelp app helps users look for a new pizzeria, a great coffee shop nearby or the best fine dining establishment in town. With the Vuzix Blade AccuWeather Globe 3D app, live and accurate local weather reports can be accessed by users right before their eyes. The Vuzix Blade News app allows users to stay up to date on the latest headlines and news stories from CNN, NPR, Google News, and Reuters. For sports fans, whether it’s the NFL, NHL, MLB, NBA, or all four, users can now follow every touchdown, goal, run, and point with the Vuzix Blade Sports app which pushes your desired game statistics to your AR glasses.
“We continue to make great progress with Vuzix Blade Smart Glasses, both in terms of our production capacity and device functionality, and we expect to achieve much more in both of these regards over the balance of this year,” said Paul Travers, Vuzix President and Chief Executive Officer. “We are truly at the point where a growing number of consumers can start leaving their phone in their pockets and experience new levels of convenience and functionality that others can only dream of providing at this point. At the same time, the Blade Smart Glasses is gaining steady interest on the enterprise side for use as a B2B or B2C productivity tool. And we are just getting started.”
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise 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 augmented reality. Vuzix holds 153 patents and 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 2019 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, Barcelona, Spain 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 our Blade and waveguide production capabilities, business relationships and opportunities with AccuWeather, Yelp and Vuzix Blade Smart Glasses, Companion App, their features and performance and among other things the Company’s leadership in the Smart Glasses 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.
