This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

EMagin Announces Second Quarter 2013 Financial Results

eMagin Corporation (NYSE MKT: EMAN), the leader in the technology, development, design and manufacture of Active Matrix OLED microdisplays for high resolution imaging products, today announced financial results for the second quarter ended June 30, 2013.

“Our second quarter 2013 results reflect some of the challenges we have continued to face as an R&D provider and high tech manufacturer. Although product revenue, primarily displays, increased 15 percent for the first half of 2013 versus the first half of 2012, and total revenues for the first half increased 5.5 percent over the first half of last year, our overall revenues were lower in the second quarter compared to the year-ago quarter primarily due to lower contract R&D from U.S. government agencies, which have been impacted by sequestration and other budget-related issues as well as manufacturing challenges including those associated with bringing our new OLED deposition tool up to full operation and the fulfillment of large volume orders with stringent specifications,” said Andrew G. Sculley, President and CEO.

“While we were pleased that almost half of the OLED deposition was accomplished during the second quarter using our new deposition tool and that overall, we have produced more units year to date than in the comparable period last year, neither yield nor output are where we want them to be. We are continuing to utilize personnel and other resources to further optimize the tool and we remain confident that yield, which is now about equal to our Satella deposition tool, will continue to improve. However, as a result of our efforts to improve the new deposition tool’s yield and output, we experienced higher than anticipated manufacturing costs in the quarter, which impacted our operating performance.”

Mr. Sculley continued, “Strong demand from domestic and international customers, particularly in the military segment, reflects our continued technological leadership in the emerging OLED microdisplay industry. We intend to remain the technology leader in the OLED microdisplay space by offering new generations of super bright, super-efficient microdisplays, including our new OLED-XLS, which is ideally suited to meet even the most demanding military applications, and our new, direct patterning technology, which we view as the next technological step to higher brightness and efficiency.”

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,051.73 -48.45 -0.28%
S&P 500 1,973.63 -4.59 -0.23%
NASDAQ 4,424.7040 -7.4420 -0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs