Preliminary revenues in the quarter are estimated to be between $6.2 million to $6.4 million, representing a 35% to 39% increase from the year ago period. Compared to the third quarter, preliminary revenues are estimated to be up 44% to 49% from $4.3 million.
The improvement in preliminary revenues reflects both the expected pickup in military demand as well as contributions from commercial programs. At Dec. 31, 2017, eMagin’s backlog of open orders scheduled for delivery through December 31, 2018 was $9.8 million, an increase of 53% from the backlog of $6.4 million at the end of 2016.
As of Dec. 31, 2017, the company had cash of $3.5 million and a revolving credit loan balance of $4.0 million, compared to cash of $2.0 million and a revolving credit loan balance of $1.1 million as of Sept. 30, 2017.
“As expected, our sales increased, reflecting strong third quarter military business bookings and contributions from our commercial contracts,” said Andrew Sculley, president and CEO. “Our core military business is improving as we see the ramp-up of new programs which is driving the increase in our backlog and is expected to continue throughout 2018.”