eMagin Announces Share Repurchase Program

eMagin Corporation announced that its Board of Directors has approved a share repurchase program for up to $2.5 million of common stock, effective Aug. 24, 2011.

“This share repurchase program demonstrates our confidence in the company’s strategic plan and our commitment to maximize shareholder value,” said Andrew Sculley, president and CEO. “Tactically, this is a tool that may allow us to take advantage of market volatility to grow future earnings per share. Strategically, we remain focused on executing our strategy of building the leading OLED microdisplay company with our expanded product portfolio. We believe that our ongoing improvements to our manufacturing facility will allow us to capitalize on current and future opportunities in multiple markets.”

Under the share repurchase program, eMagin is authorized to repurchase up to $2.5 million of its common stock from time to time on the open market. The timing and amounts of any purchases will be based on share price, market conditions and other factors. The program does not require the company to purchase any specific number of shares and may be suspended or discontinued at the company’s discretion at any time without prior notice.