MicroVision, Inc. (MVISW) saw its loss widen to $4.07 million, or $0.08 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $3.51 million, or $0.07 a share.
Revenue during the quarter surged 66.81 percent to $4 million from $2.40 million in the previous year period. Gross margin for the quarter expanded 578 basis points over the previous year period to 30.18 percent.
Operating loss for the quarter was $4.08 million, compared with an operating loss of $3.52 million in the previous year period.
Working capital drops significantly
MicroVision, Inc. has witnessed a decline in the working capital over the last year. It stood at $1.76 million as at Sep. 30, 2016, down 75.31 percent or $5.37 million from $7.14 million on Sep. 30, 2015. Current ratio was at 1.23 as on Sep. 30, 2016, down from 2.32 on Sep. 30, 2015.
Cash conversion cycle (CCC) has decreased to 11 days for the quarter from 39 days for the last year period. Days sales outstanding were almost stable at 36 days for the quarter, when compared with the last year period.
Days inventory outstanding has increased to 21 days for the quarter compared with 16 days for the previous year period. At the same time, days payable outstanding went down to 68 days for the quarter from 91 for the same period last year.
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