Thursday, May 31, 2012

Microvision (NASDAQ: MVIS) gets $4M Pioneer order, shares jump

Microvision (NASDAQ: MVIS) gets $4M Pioneer order, shares jumpPalm Beach, FL 5/31/12 (StreetBeat) -- Microvision Corp. (NASDAQ: MVIS), the Redmond maker of ultra-miniature projection display technology, said it's received $4 million in purchase orders from Pioneer Corp. for technology Pioneer will incorporate into its future automotive navigation systems.

In early Thursday trading, shares in Microvision had soared more than 27 percent, rising 52 cents to $2.43, which is a big switch from Wednesday trading, when its shares fell more than 26 percent, dropping 68 cents to close at $1.91.

"MicroVision has already begun shipping components to Pioneer for its aftermarket (head-up display) product that is expected to be available in Japan in July. The Cyber Navi is the world’s first HUD to project augmented reality information in front of the windscreen and the world’s first onboard HUD to use lasers," Microvision said in a statement.

Earlier in May, Microvision said private investors have invested $5 million in the company.

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