Spectra7 Expects Record Revenues in Q3 As Windows 10 Mixed Reality Headsets Start to Ship
Multiple Tier One PC OEM Partners Now Ramping Windows 10 MR Production
SAN JOSE, CA – September 6, 2017 – (TSX:SEV,) Spectra7 Microsystems Inc., (“Spectra7” or the “Company”), a leading provider of high-performance analog semiconductor products for broadband connectivity markets, today announced that it expects to achieve record quarterly revenue for the three-month period ending September 30, 2017, in large part due to the strong growth in demand from the first two major PC OEMs ramping production of their headsets for the Microsoft Windows 10 mixed reality (MR) platform. Additional PC OEMs are in the early stages of production with volume expected to begin in the fourth quarter of 2017. “With a broadening universe of business, entertainment, and gaming applications driving the mixed/virtual reality (MR/VR) market, required data rates continue to increase rapidly. Spectra7 has become the supplier of choice to enable our MR/VR customers to deliver a seamless experience in this growing market”, said Spectra7 CEO Raouf Halim. Microsoft and its OEM partners are putting significant resources behind their mixed reality initiative, and Microsoft asserted at June’s COMPUTEX tradeshow in Taipei that it expected 80 million mixed reality devices to be sold by 2020. To date, all of the Windows 10 PC OEM headsets are tethered solutions and have selected Spectra7’s active copper cable (ACC) technology to ensure the best user experience. “Spectra7 believes tethered headsets will remain the preferred mainstream MR/VR connectivity solution for the foreseeable future,” said Dr. Andrew Kim, CTO of Spectra7. “We believe wireless solutions will see limited acceptance due to the practical realities of bandwidth needs increasing beyond the capabilities of current wireless technologies. Today’s MR/VR devices, for example, require at least 18Gbps display data, more than double the capacity of any wireless standard. This, coupled with the need for low power, low weight, low cost, as well as low latency, and overcoming the line of sight issues of 60GHz connectivity, add up to a big challenge for wireless solutions. It is difficult for wireless solutions to compete with the performance and cost of tethered solutions when all factors are considered.”
ABOUT SPECTRA7 MICROSYSTEMS INC.
Spectra7 Microsystems Inc. is a high-performance analog semiconductor company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading electronics manufacturers in broadband connectivity markets. Spectra7 is based in San Jose, California with design centers in Markham, Ontario, Cork, Ireland, and Little Rock, Arkansas. For more information, please visit www.spectra7.com.
Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company’s future financial position and results of operations, strategy, proposed acquisitions, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s annual MD&A for the year ended December 31, 2016. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
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Spectra7 Microsystems Inc.
Spectra7 Microsystems Inc.
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