Revenue for the three and six months ended June 30, 2006 of $1.7 million and $3.3 million increased 157% and 147% respectively from $0.7 million and $1.3 million at June 30, 2005.
"Many of the displays produced last quarter will go toward building Z800 3DVisor systems for V3i's initial $1 million order. The remaining displays as well as ongoing production will support the building demand we see in the military and commercial OEM market segments. Recent OEM design wins in the first half of 2006 have led to greater visibility as these design wins convert to contracts. Clearly the advantages our OLEDs bring to applications have been proven in the field and now we're starting to see financial results through the initiation of large production orders."
John Atherly, eMagin's chief financial officer, added, "During the first quarter we received notification on two key design wins where OEMs selected our display or subsystem design for inclusion in their programs which are worth in our estimation approximately $50 million over the programs' six year lives."
