eMagin Corporation has issued financial results for its fiscal year and fourth quarter ending December 31, 2007. The results show record revenues with year-over-year results improving by 115% for the full year of 2007.
- Revenue for the three and twelve months ending December 31, 2007, of $ 4.6 million and $17.6 million increased 81% and 115%, respectively, from $2.6 million and $8.2 million for the quarter and year ending December 31, 2006. The growth in revenue was directly attributable to increased sales of our microdisplays to military, industrial, and dual-use OEMs, with military OEM growth of 100% driving results.
- Net loss for the three months ending December 31, 2007 was ($1.2 million) compared to ($1.5 million) in 2006. For the full year 2007 net loss was ($18.5 million) compared to a net loss of ($15.3 million) during 2006. Approximately $10.7 million of the loss in 2007 was related to the exchange of the 8% senior secured convertible notes and related warrants for the 6% senior secured convertible notes and warrants.