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Sunday, 19 Nov 2017

eMagin announces fourth quarter and full year 2014 financial results

Q4 revenues increased, full year revenues decreased by 8%, the product mix is changing driving up average selling price rose, shipments were lower and expected to grow

16 Mar 2015 | Editor

eMagin Corp. has announced financial results and corporate highlights for the fourth quarter and full year ended December 31, 2014. Revenues for the fourth quarter were approximately US$ 6.7 million and for the full year were US$ 25.7 million.

eMagin reports financial results
for Q4 and full year 2014 (US$ ,000)
2014
Q4
2013
Q4
2014
12 months
2013
12 months
Revenue - Products 5,675 5,644 24,061 26,315
Revenue - Contract 1,045 486 1,654 1,675
Revenue - Total 6,720 6,130 25,715 27,990
Gross profit 1,539 59 7,385 8,426
Operating expenses 3,101 3,387 12,636 13,628
Net (loss) Income (1,556) (8,705) (5,257) (14,067)
Net result per share - basic($) (0.07) (0.37) (0.22) (0.60)

Outlook

Based on current and forecast market conditions, expected orders and current backlog, eMagin expects revenues will total between $26 million to $29 million in 2015.

At December 31, 2014, the Company had approximately $6.0 million of cash, cash equivalents, and investments in certificates of deposit, compared to $6.0 million at September 30, 2014.

Andrew G. Sculley, President and CEO, said:

  • We are pleased fourth quarter revenues increased 18 percent over third quarter, and 10 percent over fourth quarter last year as our recent R&D contract awards began producing significant revenues
  • Historically, these government and non-government awards have been instrumental in fuelling our growth and we are excited about the resurgence of this activity
  • We made significant progress in key areas during the fourth quarter
  • Our new headset prototype features 2,000 by 2,000 pixel resolution, a superior form factor, a wide 100+ degree field of view and has all the outstanding advantages of an eMagin OLED microdisplay
  • We continued making great strides toward production of ultra-high brightness full colour OLED microdisplays above 10,000 nits
  • eMagin is leading the industry in this effort for direct patterned OLED at microdisplay pixel sizes
  • We recently invested in new direct patterning equipment for this effort
  • These ultra-high brightness displays will help to accelerate the penetration of our OLED microdisplays into new markets such as avionics and consumer headset applications
  • We are demonstrating these ultra-high brightness direct patterned displays to our customers

www.emagin.com   


About eMagin

A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs.

Source: eMagin


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