Spectra7 Microsystems (TSX: V.SEV, Stock Forum) scored another major product sale when the company announced today that it had received a significant multi-product order for its newest VR7200 Dual Screen virtual reality (“VR”) and HT8181 Ultra HD 4K Display products from a top provider of VR and home theatre products to leading OEM brands.
According to the news release, the Early Access Program order totals approximately $500,000 and also asks for the delivery of multiple versions of the company's patented RT8000™ automated certification platforms.
Already shipping its current generation of VR and 18Gbps high-speed products to multiple leading OEMs and consumer brands, the company is perfectly positioned to capitalize on the explosively growing demand of VR, wearable computing and Ultra HD 4K displays.
Company CEO, Tony Stelliga, commented on the transformative sales agreement, “This new order highlights our ability to simultaneously engage in multiple applications per customer as they move to higher resolutions that require faster and lighter interconnects,”
He then concluded, “Spectra7 enables these dramatically higher speeds without burdening the consumer with traditional heavy, thick, and expensive interconnects.”
Yes, the VR and wearable computing market is still forming and no one knows yet how it will finally manifest itself in form or product domination, but Spectra7 has a relatively robust position within the revolution as it provides a necessary support component to the sector that can be used in multiple products, rather than driving a single consumer end product, like the Oculus Rift, and banking on its success. I think this one just might be a long term win.
Spectra7 was in the news recently when the Markham, Ontario-based company reported record revenue growth for the second consecutive quarter with an increase in sales revenue of 171% over Q3 2013.
Shares climbed 5.88% on the news to $0.90 per share.
Currently there are 91.2m outstanding shares with a market cap of 82.1 million.