Please wait while we load the requested 10-Q report or click the link below:
Vuzix Provides Business Update and Reports Full Year and Fourth Quarter 2016 Financial Results
ROCHESTER, N.Y., March 16, 2017 - Vuzix® Corporation (NASDAQ: VUZI), a leading supplier of Smart Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets, today reported its fourth quarter and full year financial results for the period ended December 31, 2016.
The following table compares the Company’s summarized statement of operations data for the three and 12 month periods ended December 31, 2016 and 2015:
|For 3 Months||For 12 Months|
|Ended December 31||Ended December 31|
|Sales of Products||$||620,112||$||530,138||$||1,987,878||$||2,544,153|
|Sales of Engineering Services||-||12,500||139,500||205,831|
|Total Cost of Sales||1,181,942||516,182||3,290,966||2,183,798|
|Gross Profit (Loss)||(561,830||)||26,456||(1,163,588||)||566,186|
|Research and Development||1,826,165||1,403,813||6,947,878||3,595,437|
|Selling and Marketing||767,037||625,789||3,394,580||1,798,041|
|General and Administrative||1,763,698||1,040,970||5,114,139||6,120,101|
|Loss on Inventory Valuation||1,124,401||-||1,124,401||-|
|Impairment of Patents and Trademarks||20,506||13,222||20,506||13,222|
|Depreciation and Amortization||221,424||154,369||770,668||380,841|
|Loss from Operations||(6,285,061||)||(3,211,707||)||(18,535,760||)||(11,341,456||)|
|Total Other Income (Expense)||(49,930||)||(297,621||)||(714,322||)||(2,086,022||)|
|Loss Before Income Taxes||(6,334,991||)||(3,509,328||)||(19,250,082||)||(13,427,478||)|
|Provision (Benefit) for Income Taxes||-||-||-||-|
The following information was filed by Vuzix Corp (VUZI) on Friday, March 17, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Vuzix Corp's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Vuzix Corp.