Seeing in 3D
Eye tracking specialist Seeing Machines (SEE) has won a deal to supply its technology to Toshiba’s new glasses-free laptop.
The AIM-quoted Australian minnow will be supplying its faeAPI technology- which tracks the movement of the eyeball – for Toshiba’s Qosmio F750, which the company enthuses is the world’s first 3D laptop to not require special glasses. The company will receive a royalty for each unit sold by Toshiba. It is built into the laptop’s webcam which then tracks the movement of the eyeball to produce a 3D image.
Seeing's CEO Ken Kroeger declared that it is 'only the beginning of a new era in glasses-free 3D'. He enthused that SuperD (its partner in the technology) chose Seeing as it develops technology that is 'uniquely able to provide face tracking with the required accuracy and reliability' adding that he believes this launch is 'the first of many.'
Prior to the announcement analysts at paid-for research house Edison were forecasting pre-tax profits of AUD $1.3 million (£850,000) on sales of AUD$ 8.7 million for the year to June 2011. In 2012 it is pencilling in profits of AUD $1.9 million on turnover of AUD $10. 8million. EPS of 0.3 cents (0.2p) and 0.4 cents (0.26p) are forecast for 2011 and 2012, respectively.
Recommended by Growth Company Investor last October at 3.5p the shares currently trade at 2.5p. The highly volatile shares have traded between a range of 1p to 4p over the last four years, with the company having done little to generate a significant rerating of its prospects. While the deal should provide some increased momentum we retain our hold rating for now.