eMagin reported their first quarter 2011 financial results. The company reported production issues and delays a few weeks ago, and the quarter was impacted by those issues. But the company is seeing seeing significant improvements and they are approaching last year's yield levels. eMagin's new OLED deposition machine will come on-line in 2012 which will improve things further.
Total revenue in the quarter was $5.4 million and the net loss was $282,000. Cash flow is positive and the company expects to return to profitability next quarter. The company also received $1.3 million of new contract awards for microdisplay product development and commercialization projects to be completed in 2011.
Outlook for the year remains the same, with revenue in the range of $35 to $40 million.