eMagin Posts Record Revenues and Profits in 4Q09, Capping First Full Year of Profitability-- Gross Profit Rises 69% on Annual Revenue Gain of 27% -- -- Quarterly Net Income more than Doubles to $1.3 million --BELLEVUE, Wash., Mar 25, 2010 (BUSINESS WIRE) -- eMagin Corporation (OTCBB:EMAN), the leader in OLED technology for the design and manufacture of OLED microdisplays for high resolution imaging products, issued financial results for its full year and fourth quarter ending December 31, 2009.
"I am very pleased to report that eMagin continued to gain momentum and deliver strong results in 2009, a year in which the Company was able to substantially improve its profitability and grow revenues. Our performance was driven by higher customer demand for the Company's proprietary OLED microdisplays, significant gains in operational efficiency related to improved design and manufacturing processes, and prudent financial management. We concluded the year with no debt and can rely on higher cash flows from operations to fund our near-term growth in the military, industrial and consumer markets," commented Andrew Sculley, eMagin's president and chief executive officer (...).
OVER THE PAST SIX MONTHS, eMagin Corporation (OTC:EMAN) has seen its shares quietly double, as its underlying business continues to grow and 3D technologies continue to soar in popularity following the recent debut of James Cameron’s 3D film Avatar.
While most investors are playing the movie angle with companies like IMAX Corporation (NASDAQ:IMAX), at-home 3D technologies are also gaining in popularity, drawing investors into more indirect plays like Nintendo Co., Ltd. (OTC:NTDOY) and eMagin Corporation.
The relatively unknown digital imaging technology company develops products in the so-called personal viewer market. Its proprietary OLED displays are used by consumers to immerse themselves in 3D environments, as well as by the military for in-helmet technologies.
The personal viewer market is primarily powered by two technologies, LCD and OLED, with the latter offering higher-quality images, greater environmental ruggedness, reduced electronics cost and complexity, and improved power efficiency advantages, according to eMagin.
The McLaughlin Group projects that this market will sell some 16 million units and generate more than $5.7 billion in revenues by 2012. Last quarter, the company recorded record profits on revenues that jumped more than 25% on increased consumer demand.
And after swinging to a profit of $0.17 per share on record revenues of $23.8 million for the year, eMagin is finally starting to catch the attention of mainstream investors. Meanwhile, its balance sheet also remains healthy with over $5 million in cash and no long-term debt.
Traders and investors looking for an attractive entry point may want to wait for a dip to purchase, as the stock has risen more than 65% over the past five trading days and trades near its 52-week high of $4.34 per share. But believe it or not, this stock was trading at over $200 ten years ago!
ich bin vor kuzem auf diese aktie aufmeksam geworden und habe einfach zu lange gewartet um einzusteigen. gestern nach dem wahnsinns anstieg bin ich bei einem peak dann eingestiegen...dass es ein peak war hab ich dann am abend gesehen. verammt.
ich hoff wir kommen in der nächsten zeit über die 4,40€ wieder drüber----
die sorge steckt in den märkten!!! wenn diese angstmacherei endlich vorbei ist wird es hier wieder rauf gehen. wenn griechenland pleite ist, sollen sie aus der EU austreten, den drachmen wieder einführen und schauen wie es weiter geht. auf jedenfall hat das mit emagin nichts zu tun. die kursabschläge der letzten tage waren nicht gerechtfertigt.
somit lasst uns die nerven behalten...ich schau erst in 4 wochen wieder rein in der hoffnung, dass bis dorthin wieder ruhe eingekehrt ist und wir etwas höher stehen.
eMagin Posts Strong First Quarter Results-- Net Income More than Doubles on Revenue and Margin Gains --
BELLEVUE, Wash., May 13, 2010 (BUSINESS WIRE) --eMagin Corporation (OTCBB: EMAN), the leader in OLED technology for the design and manufacture of OLED microdisplays for high resolution imaging products, issued financial results for its first quarter ending March 31, 2010.
"eMagin continued to build momentum during the first quarter, hitting its timelines in the development of two custom displays that will enter production this year, while achieving significant revenue growth and increasing margins in what has been historically a quarter of lower sales. Importantly, during the first quarter the Company was awarded additional funding for the development of night vision technology with the Army, and is on track in its development of an ultra-high resolution, 3-D capable microdisplay for the U.S. Army's Telemedicine and Technology Research Center, which will contribute significantly to our revenue base in 2010 and 2011," commented Andrew Sculley, eMagin's president and chief executive officer.
"After successfully turning our business around, we now have been able to grow our R&D efforts though self-funded research and contracts for custom display development. In the first quarter, we completed the design for one new microdisplay which will begin shipping in Q2 and continued development of two others which contributed to the 83% increase in contract revenues over the prior year. By dedicating more resources to our technical advancement, we are able to deliver high resolution OLED microdisplays that have broad military, industrial and commercial applications today while building a pipeline of new products and intellectual property that will serve as the engine of future growth," concluded Mr. Sculley.
eMagin Corporation generated revenue of $5.9 million for the first quarter of 2010, a 16% increase as compared to 1Q09 primarily due to an 83% increase in contract revenue. Gross margin was 56% of revenue on gross profit of $3.3 million for the quarter, compared to a gross margin of 48% on gross profit of $2.5 million in the same quarter last year. The 8 percentage point improvement in gross margin was significant as the Company continues its initiatives to reduce cost of goods.
R&D expenses increased 103% as the Company invested in the development of new display products to drive future revenues. Selling, general and administrative expenses increased 10%, better than the company's goal of maintaining S,G&A percentage increases inline or below revenue percentage increases.
Operating income totaled $902,000 compared to $568,000 in the first quarter of 2009. The improved performance was due to the gain in gross margin mentioned previously. Net income for the first quarter of 2010 more than doubled to $880,000 or $0.03 per diluted share versus $394,000 or $0.02 per diluted share in the same period of the prior year.
Industry-leading OLED microdisplays from eMagin were used in the development of two new head mounted display products from Liteye Systems, the LE-720A HMD, a rugged, high performance solution for situational awareness applications, and the LE-800, which is configured to maximize peripheral vision for helmet-mount applications.
eMagin showcased its high performance OLED-XL(TM) microdisplays suited to defense and industrial near-to-eye applications at the SPIE Defense, Security and Sensing 2010 Symposium in Orlando, FL in early April. eMagin exhibited the 1280 x 1024 pixel SXGA OLED-XM(TM) and the SVGA+ Rev3 OLED-XL.
Based on current market conditions as well as our expectations for a solid second quarter due to scheduled deliveries under existing contracts, we reiterate our guidance of $28M to $32M in total revenue during 2010 (...).
eMagin's Shares to be Listed on the NYSE Amex Stock Exchange
BELLEVUE, Wash., May 13, 2010 (BUSINESS WIRE) --eMagin Corporation (OTCBB: EMAN) announced today that it has received confirmation from the NYSE Amex Stock Exchange ("NYSE Amex", "Exchange") that eMagin has been approved to list its shares on the Exchange. The Company's shares will continue to trade under the ticker symbol, EMAN, and are expected to commence trading on the NYSE Amex on May 18, 2010. Prior to that date, eMagin's shares will continue to trade on the Over-the-Counter (OTC) Bulletin Board.
"We are pleased by the approval to list eMagin's shares on the NYSE Amex Stock Exchange, which will strengthen our relationship with investors and bring the Company greater visibility. Listing on the Amex is the latest in a series of initiatives taken during the last two years which have focused the Company on the design and manufacture of OLED microdisplays, improved its financial results and positioned it for growth," commented Mr. Andrew Sculley, eMagin's president and chief executive officer.
"We are pleased to welcome eMagin Corporation, a pioneer in OLED microdisplay technology, to list its shares on NYSE Amex. NYSE Euronext's acquisition of the former Amex enables us to extend our coverage to smaller, promising companies. We look forward to partnering with eMagin on NYSE Amex, the premier U.S. equities market for listing and trading small- and mid-cap growth companies,"said Scott Cutler, NYSE Euronext EVP and Head of Listings, Americas (...).
sie hat eine gute relative marktstärke bewiesen. sobald der markt sich etwas beruhigt fängt sie wieder an zu klettern. hoffe das wir die höchststände von vor einem monat bald wieder sehen werdený vorausgesetzt es kommen nicht wieder gerüchte über insolvente staaten auf