Company Anticipates Increased Fourth-quarter Product Revenues in the range of
Advanced OLED Manufacturing Equipment to be Added to Production Line Through 2022
The Company’s product revenue for the fourth quarter is expected to be in the range of $6.8 million and
“We expect to end the year with a positive fourth-quarter book-to-bill ratio on strong fourth-quarter bookings that exceeded $7.1 million, positioning us well for the year ahead,” said eMagin CEO
“Additionally, following the positive reception among industry analysts and trade media for our greater than 10,000 cd/m2 Direct Patterning Display (dPd™) prototypes, which we unveiled in October and believe to be the brightest high-resolution, full-color OLED microdisplays in the world, we continue to have active discussions with customers regarding a variety of consumer, industrial and military applications. We look forward to sharing additional details regarding our product roadmap and fourth quarter results on our fourth-quarter conference call in March.”
“Our expected fourth quarter 2021 growth in product revenue compared to last year’s fourth quarter reflects continued improvements in our manufacturing yields, production throughput and overall operating effectiveness,” said eMagin CFO
As of December 31, 2021, the Company’s backlog of open orders scheduled for delivery over the next twelve months, was approximately
As previously announced, the Company has been designing, specifying, and ordering advanced OLED manufacturing equipment under its
About eMagin Corporation
eMagin is the leader in OLED microdisplay technology, enabling the visualization of digital information and imagery for world-class customers in the military, consumer, medical and industrial markets. The Company invents, engineers, and manufactures display technologies of the future and is the only manufacturer of OLED displays in
Forward-Looking Statements and Statement on Preliminary Results
The foregoing information reflects management’s estimate with respect to total revenues and other financial metrics including backlog, cash and borrowing availability, based on currently available information, which is preliminary and unaudited, is not a comprehensive statement of eMagin’s financial results and is subject to completion of the Company’s financial closing procedures. The final results that will be issued upon completion of the Company’s closing procedures may vary from these preliminary estimates.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including those regarding eMagin Corporation’s expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company’s most recent filings with the SEC. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled “Risk Factors” in eMagin’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in any Form 10-Q filed by eMagin, and in other documents we file with the
Source: eMagin Corporation
Chief Financial Officer
845-838-7951
mkoch@emagin.com
Vice President
617-542-5300
eman@investorrelations.com
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