View the Future Today

Oxford, MS 4/4/2011 (Penny PayDay) -- Vuzix Corporation (OTC:VUZI) today reported, in a press release, its fourth quarter and year-end results for the period ending December 31, 2010. As I write, shares of Vuzix were up 5 percent at $0.088 per share on light volume of 37,000 shares compared to its average daily volume of just over 57,000 shares. The company has a market cap of $23 million and a 52-week range between $0.05 and $0.30 per share.

Fourth quarter revenues of $5,552,356 compared to revenues of $3,965,550 for the same period last year, an increase of 40%. The net loss for the fourth quarter of 2010 was $(476,085) or $(0.0018) per share versus a net loss of $(894,413) or $(0.0035) per share for the same quarterly period in 2009.

For the twelve-month period ending December 31, 2010 revenues were $12,255,414 versus $11,886,098 in 2009, a rise of 3.1%. The net loss for the twelve-month period was ($4,572,072) or ($0.0173) per share versus a net loss of ($3,250,424) or ($0.0151) per share for 2009.

Paul Travers, President, commented, "Certainly, the fourth quarter is our strongest quarter seasonally and our company achieved revenue growth for the fourth quarter while operating under considerable working capital constraints. Our recent capital raising activities, including $4 million raised just prior to the close of the 2010 fiscal year and our recently announced $2 million revolving credit facility, position the company on a firmer basis for the 2011 year."

According to the press release,the Company ended the 2010 year with an order backlog of primarily Defense related products and expects revenues for Q1 to be up approximately 90% over the same period of 2010. However the Company is not offering any outlook for the rest of the year.

Vuzix is a supplier of Video Eyewear products in the defense, consumer and media & entertainment markets. The Company's products, personal display devices that offer users a portable high quality viewing experience, provide solutions for mobility, thermal sighting systems, tactical wearable displays and virtual and augmented reality. With its origins in defense research and development for next generation display solutions, Vuzix holds over 51 patents in the Video Eyewear field. The company has won 9 Consumer Electronics Show Innovations Awards, the Retail Vision Best New Product and several wireless technology innovation awards, among others. Founded in 1997, Vuzi is has offices in Rochester, NY, Oxford, UK and Tokyo, Japan.

For more information visit www.vuzix.com.

Distributed by IntelBuilder Social Media Platform