eMagin announced its FY17 Q1 result with net sales of $6.1 million and a net loss of $2.0 million. The net sales decreased by 13% on a yearly basis because last year’s quarter included $1.0 million from a licensing agreement for HMD technology with a major electronics company. The net loss has expanded significantly from net profit of $11,000 a year ago.
Overall, the company continued to expand its presence in commercial, industrial and foreign military markets while winning new U.S. military programs. Additionally, the company has made improvements in technology and product design and signed a multi-million-dollar agreement with another major consumer electronics company to design and develop a microdisplay for a VR headset.
