01.21.22
eMagin Corporation announced its preliminary revenues for the fourth quarter of 2021 and 2021 year-end sales backlog.
The company’s product revenue for the fourth quarter is expected to be in the range of $6.8 million and $7.0 million, representing a 10% to 13% increase from the fourth quarter of 2020, and a 28% to 32% sequential increase from the third quarter of 2021.
The company’s contract revenue for the fourth quarter is expected to be approximately $0.2 million, compared with $1.5 million in the fourth quarter of 2020.
Total revenue for the fourth quarter is expected to be in the range of $7.0 million to $7.2 million, compared with total revenue of $7.7 million for the fourth quarter of 2020.
“We expect to end the year with a positive fourth-quarter book-to-bill ratio on strong fourth-quarter bookings that exceeded $7.1 million, positioning us well for the year ahead,” said eMagin CEO Andrew G. Sculley. “Our core military business is benefitting from a ramp-up in volume of our existing programs and we are actively pursuing several additional programs.
“Additionally, following the positive reception among industry analysts and trade media for our greater than 10,000 cd/m2 Direct Patterning Display (dPd™) prototypes, which we unveiled in October and believe to be the brightest high-resolution, full-color oled microdisplays in the world, we continue to have active discussions with customers regarding a variety of consumer, industrial and military applications.”
“Our expected fourth quarter 2021 growth in product revenue compared to last year’s fourth quarter reflects continued improvements in our manufacturing yields, production throughput and overall operating effectiveness,” said eMagin CFO Mark Koch. “The expected quarter-over-quarter decline in contract revenue was primarily due to the timing of certain development work for a tier-one consumer customer. eMagin is continuing to work on this project and anticipates ongoing contract revenue with this customer.”
As of December 31, 2021, the company’s backlog of open orders scheduled for delivery over the next 12 months was approximately $13.8 million, an increase of more than 26% from the backlog of $10.9 million at the end of 2020, and an increase of approximately 5% from the $13.2 million backlog as of the end of the third quarter of 2021.
The company’s product revenue for the fourth quarter is expected to be in the range of $6.8 million and $7.0 million, representing a 10% to 13% increase from the fourth quarter of 2020, and a 28% to 32% sequential increase from the third quarter of 2021.
The company’s contract revenue for the fourth quarter is expected to be approximately $0.2 million, compared with $1.5 million in the fourth quarter of 2020.
Total revenue for the fourth quarter is expected to be in the range of $7.0 million to $7.2 million, compared with total revenue of $7.7 million for the fourth quarter of 2020.
“We expect to end the year with a positive fourth-quarter book-to-bill ratio on strong fourth-quarter bookings that exceeded $7.1 million, positioning us well for the year ahead,” said eMagin CEO Andrew G. Sculley. “Our core military business is benefitting from a ramp-up in volume of our existing programs and we are actively pursuing several additional programs.
“Additionally, following the positive reception among industry analysts and trade media for our greater than 10,000 cd/m2 Direct Patterning Display (dPd™) prototypes, which we unveiled in October and believe to be the brightest high-resolution, full-color oled microdisplays in the world, we continue to have active discussions with customers regarding a variety of consumer, industrial and military applications.”
“Our expected fourth quarter 2021 growth in product revenue compared to last year’s fourth quarter reflects continued improvements in our manufacturing yields, production throughput and overall operating effectiveness,” said eMagin CFO Mark Koch. “The expected quarter-over-quarter decline in contract revenue was primarily due to the timing of certain development work for a tier-one consumer customer. eMagin is continuing to work on this project and anticipates ongoing contract revenue with this customer.”
As of December 31, 2021, the company’s backlog of open orders scheduled for delivery over the next 12 months was approximately $13.8 million, an increase of more than 26% from the backlog of $10.9 million at the end of 2020, and an increase of approximately 5% from the $13.2 million backlog as of the end of the third quarter of 2021.
