Revenue for the three months ended September 30, 2005 of $1.1 million was sequentially up 69% from second quarter. Revenue for the three and nine months ended September 30, 2005 was $1.1 million and $2.5 million as compared to $1.1 million and $3.1 million for the same periods ended September 30, 2004.
Net loss and loss per share applicable to common stock for the three and nine months ended September 30, 2005 was $3.8 million, or $0.05 per share and $11.7 million, or $0.14 per share as compared to a net loss of $1.8 million or $0.03 per share and $9.8 million, or $0.16 per share during the three and nine month periods ended September 30, 2004.
Balance sheet showed $5.1 million in working capital at September 30, 2005 as compared to $14.9 million on December 31, 2004. In October a private placement of stock and warrants was completed increasing cash $8.4 million after expenses.
"I'm pleased to report that we have made significant progress on many fronts this quarter. This quarter marked a milestone when we began shipping our first direct-to-consumer product, our Z800 3DVisor, which delivers capabilities beyond those of most current professional simulation headsets. We believe that this product represents a major breakthrough for the emerging virtual imaging industry," said Gary Jones, chief executive officer of eMagin.
