eMagin reported their financial results for Q4 2012 - revenues were $8.3 million (up from $8 million in Q4 2011), and net income was $1.8 million. In 2012 eMagin generated revenues of $30.6 million (up from $29.2 in 2011) and the net income was $2.3 million. During 2012 the company purchased $2.5 million of equipment, repurchased 125,000 shares and paid a one-time $3.1 million dividend. Currently eMagin has about $13.4 million in cash and they expect revenues in 2013 to be in the range of $34 - $39 million.

eMagin SXGA OLED-XL microdisplay photoAn eMagin OLED microdisplay

Their new SNU deposition machine broke down in Q4 and they didn't produce any displays on it during the most of November and December 2012. These issues were fixed and production is now back on track.

eMagin says that they continue to see a "significant increase in demand", from both military and commercial customers for the VGA OLED-XL microdisplay. The company is on the verge of signing a new significant customer for a military program and they also secured a new consumer customer, Tracking Point (who markets guided firearms and hardware for sport shooting).

The company completed both phases of the WUXGA display program for the USSOCOM on time, and the display is now commercial ("with a stamp of approval" from the US Night Vision Lab). eMagin is also continuing to develop direct-patterning that will enhance the brightness and efficiency of their micro displays.



Finally, regarding the XGA microdisplays for camera EVFs, eMagin reports that they are still working on this together with a "large camera maker", and progress is good. They hope to start shipping the first displays in August 2013 (the contract isn't signed yet though). Their sales team has "visited most of the Asian camera makers" showing them samples of the new microdisplay.

Disclosure: the author of this post holds shares in eMagin

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Cambridge Isotope Laboratories - Deutreated Reagents and High-Purity Gases for OLEDsCambridge Isotope Laboratories - Deutreated Reagents and High-Purity Gases for OLEDs