eMagin announced Q3 2012 results - $7.5 million in revenues, $340,000 net income

eMagin reported their Q3 2012 financial results today. Revenues were $7.5 million (Q3 2011 revenues were $8.3, the decrease is because of lower R&D contract revenue). Net income was $340,000. eMagin has $16.6 million in cash and the company maintains their 2012 revenue guidance of $30-$34 million.

Regarding the camera electronic viewfinder project, eMagin says that they shipped some first prototypes, and are implementing further improvements - mainly a 67% increase in color gamut. This means that the current crop of digital cameras with OLED XGA viewfinders (the Fujifilm X-E1, the panasonic GH3 and Sony's A99, NEX-6 and the RX-1.) do not use eMagin's microdisplays (we actually assumed thus back when the cameras were announced). In fact eMagin says that they hope to ship the microdisplays during Q1 2013, and the product will probably ship in Q2. This is a high-end camera, but eMagin says these kinds of cameras can sell about 100,000 units a year.



Fujifilm X-E1

eMagin says that their own microdisplays will be brighter and longer lasting (higher lifetime) than the current OLED viewfinders, made by Sony and perhaps MicroOLED. eMagin hopes that once they can start producing these XGA microdisplays they will try to convince Fujifilm and Panasonic (but probably not Sony as they use their own displays) to replace these microdisplays with emagin's product.

eMagin microdisplays

Regarding direct-emission OLEDs - eMagin hopes to have prototypes late next year. eMagin's current microdisplays use white OLEDs with color filters (this is also true for Sony's, MicroOLED's and oLightek's microdisplays) and the new technology will allow them to achieve much higher brightness.

Source: eMagin, SeekingAlpha

Disclosure: the author of this post personally holds shares in eMagin.

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