• 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 1Q 2020 Results

    Revenue exceeds guidance at $6.7 million, including more than $1 million in contract R&D.

    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
    • Dyadic, VTT Developing Efficient Production Method for COVID-19 Vaccines
    • Ben-Gurion, Rice University Researchers Develop Technology that Filters COVID-19 Particles
    Printed Electronics Now Staff05.15.20
    eMagin Corporation, a leader in active matrix OLED microdisplays used in military and commercial AR/VR devices, announced results for the first quarter 2020.

    Total revenues for the first quarter of 2020 were $6.7 million, an increase of $0.6 million from revenues of $6.1 million reported in the prior year period, and a slight decrease of $0.6 million from the fourth quarter of 2019.

    Total revenue consists of both product revenue and contract revenue. Product revenues for the first quarter of 2020 were $5.6 million, an increase of $0.1 million from product revenues of $5.5 million reported in the prior year period. The slight increase in product revenue was achieved despite some minor disruptions resulting from the Covid-19 pandemic.

    Contract revenues were $1.1 million compared to $0.6 million reported in the prior year, reflecting a contribution of contract R&D work from designing a display for a Tier One customer in the consumer space.

    Gross margin for the first quarter was 21% on gross profit of $1.4 million compared to a gross margin of 22% on gross profit of $1.3 million in the prior year period. The lower gross margin in the 2020 first quarter is due to lower production volumes and some yield losses due to delayed response times from equipment maintenance providers related to Covid-19 travel restrictions.

    Operating loss for the first quarter of 2020 was $1.3 million compared to an operating loss of $2.2 million in the prior year period. Net loss for the first quarter of 2020 was $1.4 million or $0.03 per share compared to a loss of $1.4 million or $0.03 per share in the prior year period. Net loss for the prior year period reflects a $0.8 million non-cash gain related to the decrease in fair value of a warrant liability.

    Adjusted EBITDA the first quarter was negative $0.8 million compared to a negative $1.5 million in the prior year period. Historically, the first quarter has typically been eMagin’s lowest revenue quarter and is not indicative of results to be expected for the full year.

    “As the only USA manufacturer of OLED microdisplays, we are deemed an essential business by the US government and have continued to produce and ship products during the COVID-19 pandemic. We also have implemented additional employee health and safety measures per CDC guidelines and continue to supply products on a timely basis to our customers as well as maintain a healthy supply chain,” said CEO Andrew G. Sculley.

    “Consumer, medical and military customers are increasingly turning to eMagin because of our technological leadership in display brightness, contrast, and resolution. This leadership in brightness is further demonstrated by our proprietary Direct Patterning Display (dPd™) capability,” Sculley added. “Unlike traditional OLEDs that produce colors by using a white source with filters that eliminate about 80% of the emitted light, with dPd, we make full color displays by directly depositing each of the primary color materials (RGB) on respective sub-pixels. This allows us to use highly efficient phosphorescent materials, which increases the brightness further.”

    “First quarter revenue, consisting of $5.6 million product revenue from sales of displays, and $1.1 million from contract R&D work, was $0.6 million above our expectations for the quarter, primarily due to contract R&D work from designing a display for a Tier One customer in the consumer space,” Sculley reported. “This customer is evaluating our dPd technology and we are also enabling new, differentiated features through our advanced backplane design, and expect that work on this project continue through 2020.”

    “We also realized a slight increase in military R&D contracts as a part of an overall trend which involves the increasing use of digital visual systems that present data from multiple sensors to soldiers for at a glance viewability, often through the use of AR/VR,” he added.

    eMagin reported solid bookings of $6 million during the first quarter. At March 31, 2020, the company’s backlog of open orders was $14.9 million, including $13.3 million shippable within 12 months. This compares to a backlog of orders shippable within twelve months of $11.7 million as of December 31, 2019.
    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
    Dyadic, VTT Developing Efficient Production Method for COVID-19 Vaccines Dyadic, VTT Developing Efficient Production Method for COVID-19 Vaccines
    Ben-Gurion, Rice University Researchers Develop Technology that Filters COVID-19 Particles Ben-Gurion, Rice University Researchers Develop Technology that Filters COVID-19 Particles
    Laser-Induced Graphene Technology that Can Filter COVID-19 Airborne Particles Laser-Induced Graphene Technology that Can Filter COVID-19 Airborne Particles
    eMagin Board Director Named to 2020 National Association of Corporate Directorship 100 eMagin Board Director Named to 2020 National Association of Corporate Directorship 100
    SEMI: COVID-19 Drives Rise in Global Fab Equipment Spending SEMI: COVID-19 Drives Rise in Global Fab Equipment Spending
    eMagin Announces 2Q 2020 Results eMagin Announces 2Q 2020 Results
    Four Ways Retail is Expected to Change Post-COVID-19 Four Ways Retail is Expected to Change Post-COVID-19
    Bonbouton Develops Graphene Masks for COVID-19 Bonbouton Develops Graphene Masks for COVID-19
    Flexible Electronics Industry Creates New Products for COVID-19 Flexible Electronics Industry Creates New Products for COVID-19
    PPG PPG's Amy Ericson Discusses Guiding Packaging, Specialty Coatings Biz During COVID-19
    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

    Related Breaking News

    • Breaking News | Graphene, Perovskites and Carbon Nanotubes | Research Institutions
      Graphene Flagship Study Predicts Increased Market Penetration by 2025

      Graphene Flagship Study Predicts Increased Market Penetration by 2025

      Most immediate applications of graphene, such as composites, inks and coatings are already commercially available.
      01.25.21

    • Breaking News | RFID and NFC
      STMicroelectronics Powers NFC Applications with Message Content, Anti-Tamper in New Type-5 Tags

      STMicroelectronics Powers NFC Applications with Message Content, Anti-Tamper in New Type-5 Tags

      Tags deliver advantages such as extended communication range with superior reliability.
      01.25.21

    • Breaking News | Suppliers News
      DuPont, Corteva, Chemours Announce Resolution of Legacy PFAS Claims

      DuPont, Corteva, Chemours Announce Resolution of Legacy PFAS Claims

      Companies also settle remaining Ohio multi-district PFOA litigation.
      01.25.21


    • Breaking News | Displays and Lighting

      UDC Subsidiary Adesis' Website Wins 2020 MarCom Platinum Award

      “Our website is one of the primary thresholds to our brand," said Andrew Cottone, president of Adesis, Inc.
      Printed Electronics Now staff 01.25.21

    • Breaking News | Semiconductors and Quantum Dots
      Ambiq Wins IoT Semiconductor Company of the Year Award

      Ambiq Wins IoT Semiconductor Company of the Year Award

      Ambiq believes that innovation is essential to the advancement of human society.
      Printed Electronics Now staff 01.22.21

    • Breaking News | Displays and Lighting | Flexible and Printed Electronics | Personnel | Suppliers News
      Ynvisible Names Michael Robinson CEO, Jani-Mikael Kuusisto SVP Ventures

      Ynvisible Names Michael Robinson CEO, Jani-Mikael Kuusisto SVP Ventures

      Ynvisible is focusing on speed to market for customer products and sustainable financial growth.
      David Savastano, Editor 01.22.21


    • Breaking News | Photovoltaics | Research Institutions
      IHSMarkit Reports Top Clean-Tech Trends for 2021

      IHSMarkit Reports Top Clean-Tech Trends for 2021

      Solar surges by 30%, 10 GW milestone for offshore wind among highlights.
      David Savastano, Editor 01.22.21

    • Breaking News | RFID and NFC
      Roadsimple Modernizes Warehouse Ops with Zebra Technologies

      Roadsimple Modernizes Warehouse Ops with Zebra Technologies

      Roadsimple 'transformed our warehouse from a manual-based operation using pen and paper to a truly modernized one,' said Hao Fang, IT director.
      Printed Electronics Now staff 01.22.21

    • Breaking News | Sensors and Wearables
      Emerson Receives 2021 IoT Breakthrough Award for Analytics Platform of the Year

      Emerson Receives 2021 IoT Breakthrough Award for Analytics Platform of the Year

      Real-time data and analytics are key drivers for optimizing operational performance, asset health and plant safety.
      Printed Electronics Now Staff 01.21.21


    • Breaking News | Graphene, Perovskites and Carbon Nanotubes | Research Institutions
      Graphene Flagship Launches Redesigned Website

      Graphene Flagship Launches Redesigned Website

      Site features completely redesigned aesthetic, with emphasis on easy-to-access informative content presented in a simple, clean and visually appealing way.
      Printed Electronics Now staff 01.20.21

    • Breaking News | Flexible and Printed Electronics | Research Institutions | Sensors and Wearables
      TNO at Holst Centre Develops Cuddle Vest

      TNO at Holst Centre Develops Cuddle Vest

      Connected cuddle vest with printed electronics can give hugs from a distance.
      Printed Electronics Now staff 01.19.21

    • Breaking News | Flexible and Printed Electronics | Semiconductors and Quantum Dots
      Annual Outlooks at Virtual ISS 2021 Point to Global Economic, Chip Industry Growth

      Annual Outlooks at Virtual ISS 2021 Point to Global Economic, Chip Industry Growth

      Semiconductor industry to grow to $1 trillion in chip sales in the early 2030s, speakers at the Virtual SEMI Industry Strategy Symposium revealed.
      Printed Electronics Now staff 01.19.21


    • Breaking News | Sensors and Wearables
      InnovationLab, Bitquadrat Launch Smart Mattress Cover for Patient Monitoring

      InnovationLab, Bitquadrat Launch Smart Mattress Cover for Patient Monitoring

      Integration of printed pressure sensors and healthcare software enables dramatic risk-reduction in dangerous pressure ulcers.
      Printed Electronics Now staff 01.19.21

    • Breaking News | Research Institutions | Semiconductors and Quantum Dots
      imec: Novel Approach for Improving Gate-stack Reliability

      imec: Novel Approach for Improving Gate-stack Reliability

      Atomic hydrogen treatment to improve NBTI reliability in low-thermal-budget process flows.
      Printed Electronics Now staff 01.19.21

    • 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

    Trending
    • DuPont, Corteva, Chemours Announce Resolution Of Legacy PFAS Claims
    • TNO At Holst Centre Develops Cuddle Vest
    • First Solar Signs Definitive Agreement To Sell US Development Platform To Leeward
    • IHSMarkit Reports Top Clean-Tech Trends For 2021
    • Ynvisible Names Michael Robinson CEO, Jani-Mikael Kuusisto SVP Ventures
    Breaking News
    • Graphene Flagship Study Predicts Increased Market Penetration by 2025
    • STMicroelectronics Powers NFC Applications with Message Content, Anti-Tamper in New Type-5 Tags
    • DuPont, Corteva, Chemours Announce Resolution of Legacy PFAS Claims
    • UDC Subsidiary Adesis' Website Wins 2020 MarCom Platinum Award
    • Ambiq Wins IoT Semiconductor Company of the Year Award
    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

    Clinical Evidence Suggests Potential Oral Benefits for Curcumin Extract
    Oleic Acid Possibly Implicated in MS Pathology
    NIH Study Compares Low-Fat, Plant-Based to Low-Carb, Animal-Based Diet
    Coatings World

    Latest Breaking News From Coatings World

    APV Engineered Coatings Reflects on 2020
    LINE-X Launches Dealer Program with International Truck
    BCF CEO to Chair Royal Society of Chemistry Surface Coatings Interest Group
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Alleviant's Transcatheter Tech Obtains Breakthrough Status
    Signia Appoints New President
    At-Home COVID-19 Test Kits Boosts Disease Monitoring Capabilities
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Civica to Build an Essential Medicines Manufacturing Facility in Virginia
    Humanigen, Emergent Enter Covid-19 Partnership
    Samsung Bioepis Opens New Headquarters
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Fitglow Beauty Wins Big at Annual Dirty Thinker’s Choice Awards
    e.l.f. Cosmetics Unveils Mint Melt Collection
    Estée Lauder Companies Updates Supply Chain Leadership
    Happi

    Latest Breaking News From Happi

    Some Good News at Inter Parfums
    Professional Beauty Association Names New Executive Director
    Curcumin's Role in Oral Care
    Ink World

    Latest Breaking News From Ink World

    Paragon Expands Direct Mail Capabilities with Ricoh Pro VC70000
    BOBST Demonstrates Future of Flexible Packaging Production at Virtual Open House
    Morancé Soudure France Adds Comexi F2 MC 10-color Flexo Press
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    VPF launches deep-freeze adhesive
    ProMach strengthens flexible packaging business
    Gallus planning virtual event for March
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Kimberly-Clark Releases Q4, Full Year Results
    Freudenberg to Establish Apparel Interlining Competence Centers
    Minet Adds Spunlace Line in Romania
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    First Patient Implanted With NEXXT MATRIXX SA Cervical Turn-Lock System
    Cretex Companies CEO Steps Down
    Conformis Enters Development & Supply Agreement with SITES Medical
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    First Solar Signs Definitive Agreement to Sell US Development Platform to Leeward
    Imec Technology Taking Off to Space
    North American Semiconductor Equipment Industry Posts December 2020 Billings

    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