eMagin announced that preliminary revenue for Q4 2013 was about $6.1 million. That's about $2 million less than expected. This ends a very challenging year for the OLED microdisplay maker. Looking forward, the company wants to strengthen their manufacturing processes and reach "acceptable" yield levels, and expects to return to revenue growth in 2014.
eMagin says that demand for their microdisplays remains strong, but there was a "shortfall in anticipated product revenue" for the quarter, resulting from equipment downtime, low yield and lower average sales prices. Contract revenue in the period is still low due to fewer government R&D contracts as a result of the U.S. government sequestration.
Disclosure: the author of this post holds shares in eMagin
Comments
Ace, you're right. I changed the post. Thanks!
I work for the company. Most employees feel the plant will close within 8-12 months. Yields are horrible, as well as leadership. Managers get fired, then rehired...it's a mess! Future is very cloudy. Change is too little too late.
they said they "expect" to return to revenue growth.