Microvision announced their financial results for Q1 2012. The company had $1.7 million in revenue (up from $1.1 million a year ago), mostly from PicoP engine and ShowWX projector sales. Net loss was $9.8 million (up from $9 million a year ago). The company cash and equivalents decreased $6.2 million to $6.8 million. Backlog is $1.5 million.Microvision recently signed a definitive agreements with Pioneer - under which Pioneer agrees to produce PicoP Gen2 display engines for its own automotive aftermarket products and to pay MicroVision royalties from sales of these products. Pioneer plans to release its first commercial aftermarket head-up display product later this year. MicroVision also says they received new orders for PicoP evaluation kits in the first quarter, including from a tier one automotive supplier and a large industrial customer.
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