10.25.22
eMagin Corporation announced its preliminary revenues for the third quarter of 2022 and sales backlog as of Sept. 30, 2022. The company will release its full third-quarter results on Nov. 10, 2022.
The company currently estimates revenues for the third quarter of 2022 will be in the range of $7.4 million and $7.6 million, which would represent a 28% to 31% increase from revenues of $5.8 million for the third quarter of 2021.
The estimated improvement in year-over-year product revenues reflects strength in military demand, increased revenue contributions from medical customers, as well as higher contract revenue related to the timing of development activities. This would be the fourth consecutive quarter in which the company realized year-over-year increases in throughput and product revenues of more than $7.0 million.
"As we expected, our display sales increased during the third quarter of 2022, reflecting strong military shipments and increased veterinary and surgical revenues," said eMagin CEO Andrew G. Sculley. "We expect to report total backlog of $16.6 million, which reflects continued strength in military markets and compares favorably to prior year’s third quarter backlog of $14.9 million. We look forward to sharing additional details of our third quarter results on our quarterly conference call scheduled for November 10th."
The company currently estimates revenues for the third quarter of 2022 will be in the range of $7.4 million and $7.6 million, which would represent a 28% to 31% increase from revenues of $5.8 million for the third quarter of 2021.
The estimated improvement in year-over-year product revenues reflects strength in military demand, increased revenue contributions from medical customers, as well as higher contract revenue related to the timing of development activities. This would be the fourth consecutive quarter in which the company realized year-over-year increases in throughput and product revenues of more than $7.0 million.
"As we expected, our display sales increased during the third quarter of 2022, reflecting strong military shipments and increased veterinary and surgical revenues," said eMagin CEO Andrew G. Sculley. "We expect to report total backlog of $16.6 million, which reflects continued strength in military markets and compares favorably to prior year’s third quarter backlog of $14.9 million. We look forward to sharing additional details of our third quarter results on our quarterly conference call scheduled for November 10th."