eMagin Results 11/11/2016

By Jasmine Kang Sodha
emagin
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eMagin Corp. announced it’s Q3 FY16 financial results with net sales of $4.3 mn and a net loss of $2.4 mn. The net sales were 20% lower than last year’s Q3 net sales of $5.4 mn while the net loss was slightly higher than Q3 FY15 net loss of $2.2 mn.

The product revenue was $3.5 mn, 24% less than Q3 FY15 figure, primarily due to lower volumes from maturing military programs and partially offset by a lower average price due to product mix. The R&D contract revenues totaled approximately $0.8 mn, consistent with Q3 FY15.

The company expects to increase sales in 2017 due to higher volumes of shipments and launch of two new consumer products (see our report on the CES Unveiled event (Displays at CES Unveiled)