eMagin Corporation (NYSE Amex: EMAN, the “Company”), the leader in the development, design and manufacture of Active Matrix OLED microdisplays for high resolution imaging products, announced today that its new, proprietary OLED deposition machine has been shipped from the manufacturer, SNU Precision Co., Ltd., and is scheduled to arrive at eMagin’s production facility in Hopewell Junction, New York, in early November.
The new OLED deposition machine is expected to increase OLED deposition capacity by approximately tenfold, to increase yield, and to contribute to a substantially more efficient, automated process with lower maintenance requirements and greater utilization. The new $4.0 million tool will replace the Company's existing Satella OLED deposition machine, an R&D tool adapted and used by eMagin for both R&D and production since the Company’s inception in 1996. The substantial production efficiencies expected to be realized from the new machine will enable the Company to further address its key domestic and international markets, which include military, industrial and consumer applications. Once the new machine is operating efficiently, the Satella machine will be used mainly for the research and development of new, state-of-the-art microdisplay products.
Andrew Sculley, President and CEO of eMagin, stated, “We are pleased that our new OLED deposition machine is on the way to our production facility in Hopewell Junction, New York, where it will be assembled and calibrated for maximum efficiency with support from a team from the manufacturer before being brought on line.”
About eMagin CorporationA leader in OLED microdisplay technology and personal display systems, eMagin integrates high-resolution OLED microdisplays with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. The Company's own Z800 3DVisor provides 3D stereovision and headtracking for PC gaming, training and simulation, immersion therapy, and other applications. More information about eMagin is available at www.emagin.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, 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. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts