• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Printed Electronics
    • Raw Materials
    • Equipment
    • Services
    • Suppliers Guide
    • Resources
    • More
  • Magazine
  • News
  • Printed Electronics
  • Raw Materials
  • Equipment
  • Services
  • Suppliers Guide
  • Resources
  • Current & Past Issues
    Features
    Editorials
    Digital Edition
    Subscribe Now
    Advertise Now
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Breaking News
    Experts Opinion
    Financial News
    Manufacturers News
    Mergers and Acquisitions
    Online Exclusives
    Personnel
    Product Releases
    Suppliers News
    Live From Shows
    Displays and Lighting
    Photovoltaics
    Printed Batteries
    Printed Circuit Boards/Membrane Switches/In Mold Electronics
    Flexible and Printed Electronics
    RFID and NFC
    Sensors and Wearables
    Smart Cards and Packaging
    Touch Screens
    Adhesives, Barriers and Encapsulants
    Chemicals, Metals and Powders
    Conductive Inks and Coatings
    Electronic Materials
    Film, Paper, Glass and Substrates
    Graphene, Perovskites and Carbon Nanotubes
    Nanomaterials
    Printed Electronic Components
    Research Reports
    Semiconductors and Quantum Dots
    Energy Curing Equipment
    Lab and Testing Equipment
    Manufacturing Equipment
    Printing Equipment
    3D Printing
    Contract Manufacturing Services
    Product Design and Testing
    Research and Consulting
    Research Institutions
    Research Reports
    Universities
    Equipment
    All Companies
    Materials
    Categories
    Converting
    Printed Electronics Systems
    Associations
    Research and Services
    Used Machinery
    Add New Company
    Industry Events
    Live from show events
    Podcasts
    Videos
    Blogs
    Slideshows
    Infographics
    Webinars
    Whitepapers
    Equipment and Services
    Glossary
    • Magazine
      • Current & Past Issues
      • Features
      • Editorial
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Suppliers Guide
      • Add Your Company
      • Suppliers Guide
    • Printed Electronics
      • Photovoltaics
      • Printed Batteries
      • Printed Circuit Boards/Membrane Switches/In Mold Electronics
      • Flexible and Printed Electronics
      • RFID and NFC
      • Sensors and Wearables
      • Smart Cards and Packaging
      • Touch Screens
    • Raw Materials
      • Adhesives, Barriers and Encapsulants
      • Chemicals, Metals and Powders
      • Conductive Inks and Coatings
      • Electronic Materials
      • Film, Paper, Glass and Substrates
      • Graphene, Perovskites and Carbon Nanotubes
      • Nanomaterials
      • Semiconductors and Quantum Dots
    • Equipment
      • Energy Curing Equipment
      • Lab and Testing Equipment
      • Manufacturing Equipment
      • Printing Equipment
      • 3D Printing
    • Services
      • Contract Manufacturing Services
      • Product Design and Testing
      • Research and Consulting
      • Research Institutions
      • Research Reports
      • Universities
    • Online Exclusives
    • Slideshows
    • Blog
    • Videos
    • Podcasts
    • Infographics
    • Events
      • Industry Events
      • Live from show events
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    eMagin Corporation Announces 2Q 2019 Financial Results

    Manufacturing challenges cited for lower results, although demand remains strong.

    eMagin Corporation Announces 2Q 2019 Financial Results
    Related CONTENT
    • eMagin Expanding New York Manufacturing Facility
    • eMagin Corporation Announces 3Q 2020 Results
    • eMagin Presenting at OLED World Summit, Bay Area Society for Information Display
    • eMagin Board Director Named to 2020 National Association of Corporate Directorship 100
    • eMagin Announces 2Q 2020 Results
    08.13.19
    eMagin Corporation announced financial results and corporate highlights for the second quarter ended June 30, 2019.
     
    “Our production during the second quarter continued to be impacted by manufacturing challenges and led to disappointing results for the company. We have implemented several measures and are seeing yields and production volumes recovering,” said Jeffrey Lucas, president and CFO.
     
    “It is critical that we improve stability in our manufacturing processes with the goal of stemming operating losses and reaching a break-even financial position. We have made improving yields, increasing production volumes and fulfilling our customer orders the highest priorities throughout the company.
     
    “While the benefits of these initiatives will require some time, we are already seeing progress. In the current quarter, we produced 25% more displays during the first month than we did in the first month of the previous quarter. Our production yields are beginning to recover and return to the upward trend we were achieving as part of our long-term yield improvement plan. We will continue to work aggressively to improve our operating performance and strengthen our financial position,” concluded Lucas.
     
    “In the second quarter, demand for our products, particularly from military and aviation programs, both domestic and international, remained strong,” added CEO Andrew G. Sculley. “We continue to win new programs and support existing ones, many of which extend over multiple years. Engineering work on the improved OLED microdisplay for the helmets began in July in preparation for Low Rate Initial Production. We are also working with the two prime contractors on pre-production units for the ENVG Binocular program, which is anticipated to commence production in late 2019/early 2020 with an overall acquisition objective by the US Army of over 108,000 systems. In addition, our presence in medical markets continues to grow as we received 12 orders from existing medical customers during the quarter. In total, during the second quarter of fiscal 2019, we received 98 orders, of which 13 were from new customers, and supplied products for 22 new programs. Our backlog of products scheduled for delivery through June 30, 2020, continues to be solid at $11.6 million, an increase of approximately $1.0 million over the backlog of $10.6 million at December 31, 2018.
     
    “Production of OLED microdisplays is complex and we are supported by a very talented team of engineers and production employees with substantial industry expertise. We are confident of our ability to continue the progress made on resolving our production issues,” concluded Sculley.
     
    Revenues for the second quarter of 2019 were $5.4 million, a decrease of $1.7 million from revenues of $7.1 million reported a year ago, and down sequentially by $0.7 million from the first quarter of 2019.
     
    Product revenues were $5.0 million as compared to $6.2 million in the second quarter of 2019. On a sequential basis, product revenues fell 10% from the first quarter of 2019. Contract revenues totaled $0.4 million in the second quarter compared to $0.9 million in the same quarter of last year, reflecting less revenues from military and government-funded contracts.
     
    Overall gross margin for the second quarter was 4% on gross profit of $0.2 million compared to a gross margin of 2% on gross profit of $0.1 million in the prior year period. 
     
    Operating loss for the second quarter was $2.9 million versus an operating loss of $3.6 million in the second quarter of last year. Excluding the charge related to the consumer night vision business inventory, operating loss for the second quarter of 2018 was $0.9 million. Net loss for the second quarter of 2019 was $2.3 million, or $0.05 per diluted share, compared to a net loss of $5.1 million, or $0.11 per diluted share, in the second quarter of 2018. 
    Related Searches
    • displays
    • OLED
    • emagin
    • LED
    Suggested For You
    eMagin Expanding New York Manufacturing Facility eMagin Expanding New York Manufacturing Facility
    eMagin Corporation Announces 3Q 2020 Results eMagin Corporation Announces 3Q 2020 Results
    eMagin Presenting at OLED World Summit, Bay Area Society for Information Display eMagin Presenting at OLED World Summit, Bay Area Society for Information Display
    eMagin Board Director Named to 2020 National Association of Corporate Directorship 100 eMagin Board Director Named to 2020 National Association of Corporate Directorship 100
    eMagin Announces 2Q 2020 Results eMagin Announces 2Q 2020 Results
    eMagin Corporation Announces $33.6 Million Investment by Department of Defense eMagin Corporation Announces $33.6 Million Investment by Department of Defense
    eMagin Comments on Preliminary 2Q 2020 Revenues eMagin Comments on Preliminary 2Q 2020 Revenues
    eMagin Corporation Announces 1Q 2020 Results eMagin Corporation Announces 1Q 2020 Results
    CCL Industries Announces 2Q 2019 Results CCL Industries Announces 2Q 2019 Results
    First Solar, Inc. Announces 2Q 2019 Financial Results First Solar, Inc. Announces 2Q 2019 Financial Results
    ON Semiconductor Reports Second Quarter 2019 Results ON Semiconductor Reports Second Quarter 2019 Results
    Impinj Reports Second Quarter 2019 Financial Results Impinj Reports Second Quarter 2019 Financial Results
    NXP Semiconductors Reports 2Q 2019 Results NXP Semiconductors Reports 2Q 2019 Results
    Zebra Technologies Announces 2Q 2019 Results Zebra Technologies Announces 2Q 2019 Results
    STMicroelectronics Reports 2Q 2019 Financial Results STMicroelectronics Reports 2Q 2019 Financial Results

    Related Breaking News

    • Breaking News | Contract Manufacturing/Printing | Flexible and Printed Electronics | Smart Cards and Packaging
      Jones Healthcare Group Operating Through Ontario’s New COVID-19 Restrictions

      Jones Healthcare Group Operating Through Ontario’s New COVID-19 Restrictions

      Operations 'remain in full compliance with mandates and recommendations from official health organizations and the government.'
      Printed Electronics Now staff 01.18.21

    • Breaking News | Displays and Lighting
      JOLED, LG Collaborate to Deliver Superior Productivity for Creative Professionals

      JOLED, LG Collaborate to Deliver Superior Productivity for Creative Professionals

      LG launching premium 32-inch monitor LG UltraFine Display OLED Pro.
      Printed Electronics Now staff 01.18.21

    • Breaking News | Semiconductors and Quantum Dots
      SOI Industry Consortium Joins SEMI as Strategic Association Partner

      SOI Industry Consortium Joins SEMI as Strategic Association Partner

      Industry organization representing the complete SOI-based microelectronics value chain.
      Printed Electronics Now staff 01.18.21


    • Breaking News | Contract Manufacturing/Printing | Manufacturers News
      Toppan Announces 2050 Environmental Vision

      Toppan Announces 2050 Environmental Vision

      Commitment to target zero waste emission and virtually zero greenhouse gas emissions in 2050.
      Printed Electronics Now staff 01.18.21

    • Breaking News | RFID and NFC
      Farmacorp Selects Zebra Technologies, Reflexis Systems to Modernize On-site Store Audits

      Farmacorp Selects Zebra Technologies, Reflexis Systems to Modernize On-site Store Audits

      Bolivian pharmacy chain leverages mobile store inspections across 100+ stores.
      Printed Electronics Now staff 01.15.21

    • Breaking News | RFID and NFC
      Sensormatic Solutions Debuts VisionWorks at NRF 2021

      Sensormatic Solutions Debuts VisionWorks at NRF 2021

      VisionWorks provides retailers with new deep learning-based computer vision AI models for unmatched operational insights.
      Printed Electronics Now staff 01.14.21


    • Breaking News | RFID and NFC
      Veridos Paves Way for Secure, Autonomous Border Crossing

      Veridos Paves Way for Secure, Autonomous Border Crossing

      Veridos has successfully implemented many automated border control solutions, including projects in Bangladesh, Morocco, and Luxembourg.
      Printed Electronics Now staff 01.14.21

    • Breaking News | Personnel | Semiconductors and Quantum Dots | Sensors and Wearables
      Rajita D’Souza Appointed STMicroelectronics President, HR, and CSR

      Rajita D’Souza Appointed STMicroelectronics President, HR, and CSR

      D’Souza previously served as chief HR officer at Bekaert.
      Printed Electronics Now staff 01.14.21

    • Breaking News | Printed Circuit Boards/Membrane Switches/In Mold Electronics
      Phiaro Corporation Incorporates TactoTek IMSE Smart Surfaces into Customer Projects

      Phiaro Corporation Incorporates TactoTek IMSE Smart Surfaces into Customer Projects

      Phiaro Corporation’s design portfolio emphasizes automotive and other personal transportation solutions.
      Printed Electronics Now staff 01.14.21


    • Breaking News | Product Releases | RFID and NFC | Sensors and Wearables
      Timestrip Electronic Indicators Launched

      Timestrip Electronic Indicators Launched

      For monitoring safe storage and transportation of wide range of goods including pharmaceuticals, vaccines, healthcare, food produce, adhesives and inks.
      Printed Electronics Now staff 01.13.21

    • Breaking News | Financial News | RFID and NFC
      Impinj Announces Preliminary 4Q 2020 Revenue

      Impinj Announces Preliminary 4Q 2020 Revenue

      Expected preliminary fourth quarter 2020 revenue to exceed $36 million.
      Printed Electronics Now staff 01.13.21

    • Breaking News | Electronic Materials | Energy Curing/Sintering
      Deadline for RadLaunch UV+EB Technology Accelerator is Jan. 30

      Deadline for RadLaunch UV+EB Technology Accelerator is Jan. 30

      UV+EB technology industry tech-education accelerator focused on unique and novel ultraviolet and electron beam technologies.
      Printed Electronics Now staff 01.13.21


    • Breaking News | Flexible and Printed Electronics
      Global Printed, Flexible, Hybrid, Textile Electronics Community Gathers Online

      Global Printed, Flexible, Hybrid, Textile Electronics Community Gathers Online

      First 120 speakers announced.
      Printed Electronics Now staff 01.13.21

    • Breaking News | Product Releases | RFID and NFC
      Sensormatic Solutions Launches Sensormatic IQ

      Sensormatic Solutions Launches Sensormatic IQ

      Unify diverse data and insights with the new intelligent operating platform designed to drive improved shopper experiences and retail outcomes.
      Printed Electronics Now staff 01.12.21

    • Breaking News | Personnel | RFID and NFC | Suppliers News
      Nathan Winters Appointed Zebra Technologies CFO

      Nathan Winters Appointed Zebra Technologies CFO

      Winters takes position after serving in acting role since August 2020.
      Printed Electronics Now staff 01.12.21

    Trending
    • Global Printed, Flexible, Hybrid, Textile Electronics Community Gathers Online
    • JOLED, LG Collaborate To Deliver Superior Productivity For Creative Professionals
    • Graphene Flagship Launches Redesigned Website
    • Toppan Announces 2050 Environmental Vision
    • Most Intriguing Flexible, Printed Electronics Products Of 2020
    Breaking News
    • Jones Healthcare Group Operating Through Ontario’s New COVID-19 Restrictions
    • JOLED, LG Collaborate to Deliver Superior Productivity for Creative Professionals
    • Toppan Announces 2050 Environmental Vision
    • SOI Industry Consortium Joins SEMI as Strategic Association Partner
    • Farmacorp Selects Zebra Technologies, Reflexis Systems to Modernize On-site Store Audits
    View Breaking News >
    CURRENT ISSUE

    Fall 2020

    • Flexible Electronics Is Proving to Be Ideal for Healthcare
    • COVID-19 and the Printed Electronics Industry
    • Smart Packaging Looks to Move Forward
    • Electronic & Conductive Ink Conference Showcases Future of Ink Technology
    • Printed Electronics Now’s International Suppliers’ Directory
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    BGG Obtains U.S. Patent on AstaZine Natural Astaxanthin for Heart Function During Exercise
    Qualitas Health/iwi Raises $10 Million in Investment Round
    Aker BioMarine Expands Krill Portfolio with Novel Protein Hydrolysate
    Coatings World

    Latest Breaking News From Coatings World

    Huntsman Finalizes Acquisition of Gabriel Performance Products
    PPG Completes COLORFUL COMMUNITIES Project at School in A. Bangsaothong Samutprakarn, Thailand
    dar-tech, inc. Becomes U.S. Midwestern Distributor for ZS Interpolymer
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    FineHeart Successfully Tests Wireless TET System
    Apria Healthcare Settles Whistleblower Lawsuit
    OraSure’s OMNIgene·ORAL Device Included in COVID-19 EUA Amendment
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Valeo Pharma Appoints President, COO
    Metrion, LifeArc Extend Neuroscience Alliance
    Grifols Begins COVID-19 Plasma Treatment Trial
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    JLo Beauty Launches at Sephora & Amazon
    Unilever and Alibaba Group Join Forces
    Redken Unveils Acidic Bonding Concentrate Range
    Happi

    Latest Breaking News From Happi

    A Surge in Interest for Supplements & Vitamins
    Manscaped Expands Further in Europe
    Color Street Gives Back
    Ink World

    Latest Breaking News From Ink World

    dar-tech, inc. Becomes U.S. Midwestern Distributor for ZS Interpolymer
    Techkon USA, Konica Minolta Partner
    Alon Bar-Shany Appointed Chairman of Highcon Board
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Exhibitor registration opens for virtual.drupa
    FTA planning in-person Forum & INFOFLEX
    Fortis Solutions Group achieves SGP certification
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Super Strong Inks Survive Tough Environments
    Ontex Honored for Mask Production
    TFP Acquires PV3 Technologies
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    OrthoPediatrics Expands Agent Network in Three European Countries
    Studies Show FlareHawk Expandable Cage Delivers Favorable Fusion, Patient Outcomes
    Rapid Recovery Protocol Can Lead to Increased Range of Motion After TKA
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    UDC Subsidiary Adesis' Website Wins 2020 MarCom Platinum Award
    Roadsimple Modernizes Warehouse Ops with Zebra Technologies
    Graphene Flagship Launches Redesigned Website

    Copyright © 2021 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login