ROCHESTER, N.Y., Aug. 14, 2024 /PRNewswire/ -- Vuzix® Corporation (NASDAQ:VUZI) ("Vuzix" or the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, today reported its second quarter results for the three months ended June 30, 2024. "In our second quarter of 2024, Vuzix underpinned key end-customer and strategic relationships within the enterprise, consumer, and defense markets centered around business opportunities that are expected to have a meaningful impact on both our balance sheet and top-line revenue growth over the back half of 2024 and into 2025," said Paul Travers, President and CEO of Vuzix. "At the same time, we have reduced our annual cost structure going forward by $8M as compared to 2023 through headcount reductions, tighter cost controls and a voluntary and widely adopted salary reduction program that offers staff, directors and management restricted stock or stock options in lieu of foregoing up to 50% of their base salaries." The following table compares condensed elements of the Company's unaudited summarized Consolidated Statements of Operations data for the three months ended June 30, 2024 and 2023, respectively: For Three Months Ended June 30 ($000s except per share amounts) 2024 2023 Sales: Sales of Products $   601 $4,425 Sales of Engineering Services 491 266 Total Sales 1,093 4,691 Total Cost of Sales 1,426 3,718 Gross Profit (Loss) (333) 972 Gross Profit (Loss) % (30) % 21 %