eMagin says that they expect revenues of about $7.4 million in 2Q 2011 - as the company's production output still did not meet the target level. The Company continues to take the necessary steps to increase production output (adding extra shifts, preventive maintenance and new equipment). They say that production should show improvement in the second half of the year. In addition, capacity and yields are projected to improve further in 2012 - when the next generation OLED deposition machine will be on-line.
Due to the lower than planned production output coupled with the delay into 2012 of two military programs totaling approximately $6.0 million in revenue, eMagin is now projecting revenue between $29.0 million and $33.0 million for fiscal 2011. That's lower than the $35 to $40 million guidance issued in March 2011.