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Posts sequential improvement in revenue, gross margin and operating profit
November 10, 2011
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
eMagin Corporation announced financial results for the third quarter of 2011 ended Sept. 30, 2011. “The competitive strength of our technology and products continues to drive progress at eMagin. We matched our best quarter ever in terms of revenues, at $8.3 million, and saw sequential improvement in our performance,” stated Andrew Sculley, president and CEO. “Our new OLED deposition machine has arrived at our production facility in Hopewell Junction, NY, and we have begun installing the new equipment. We expect the new OLED deposition machine to be operating in first quarter of 2012. When fully operational, we expect a 10-fold increase in deposition capacity and improvements in yield. “We continue to anticipate that we will meet our 2011 revenue guidance of between $29 million and $33 million, based on several factors including current market conditions, production capacity, the company’s backlog under existing contracts, shipments to a significant new customer in the high-end camera business, and other potential new business,” Sculley added.
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