OLED microdisplay maker eMagin reported its financial results for Q3 2017. Revenues in the third quarter were $4.3 million, the same as in Q3 2016. Net loss was $3 million in the quarter. As of September 30, eMagin had $2 million in cash and equivalents and a borrowing availability of $3.7 million.
The results were disappointing, in part due to a manufacturing issue that have since been resolved, according to eMagin. The company says it has experienced a heightened level of activity in the third quarter, both in its commercial initiatives as well as its military programs.
eMagin reported several new military contracts for its OLED microdisplays including a $3.7 million follow-on contact for the US Army Enhanced Night Vision Goggle III (ENVGIII), a multi-year $1.7 million order from a European military contractor for see-through AR HMDs and a $1.5 million order to support the Light Weight Thermal Sight (LWTS) program. In total eMagin says it has booked over 90 new orders totaling more than $6.5 million in the third quarter.
Disclosure: the author of this post holds some shares in eMagin
