eMagin logo neweMagin reported their financial results for Q1 2012. Revenues were $6.1 million (a company record, and a 13% increase compared to last year) and net loss was $452,000. The company saw an increase of 35% in product revenue, and a 59% increase in the number of display produced.

The company hopes that during Q2 they will complete the testing of the new OLED deposition machine and will begin production. They expect OLED deposition capacity to increase by tenfold and also higher yields.

eMagin reports that their R&D team has achieved further reductions in the size of the full color pixel, to 8.1 microns. This is the smallest known full color pixel in the industry according to the company. They also revealed that they are developing a new XGA microdisplay to better address the commercial and consumer electronic viewfinder market. There are several newly interested potential customers for this new product. eMagin currently sells a different display into the high end of this market.

eMagin reaffirms its 2012 revenue guidance range of $30-$34 million.

Disclosure: the author of this post holds some eMagin shares