Vuzix Corp., a manufacturer of video eyewear and other personal display devices, has released a report of their earnings for the second quarter of this year. The company is well known for its use of augmented reality technology that is most often used in the security sector. Despite growth in sales to several defense organizations throughout the world, the company has posted losses for the second quarter. While loss rarely bodes well for any company, executives note that their losses are becoming smaller as time goes on.
The company posted losses reaching just above $900,000 for the second quarter. This is down from last year’s $1.4 million in losses, showing that the company has, indeed, been making headway in shoring up the seams of their business. The company’s sales have grown well since last year, by a margin of 21%, reaching $2.3 million for the second quarter. Vuzix officials credit the boost in sales to the number of defense products they have been selling this year.
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Augmented reality technology is quite alluring to the world of defense. More security and military organizations have been adopting AR technology to give them a boost over the challenges they face. The technology has proven to be valuable in a number of practical uses, but interest in more advanced uses are beginning to drive demand. While the technology may not be liable for the creation of a fabled “super soldier,” it has allowed the U.S. military to conduct several sensitive operations that would have otherwise been impossible.