eMagin reported the company's financial results for Q3 0216. Revenues were $4.3 million, down 20% from Q3 2015, operating loss was $3.8 million (up from $3.3 million in Q3 2015) - and net loss was $2.4 million (up from $2.2 million in Q3 2015). As of the end of September the company had about $6.9 million in cash and equivalents (down from $9.3 million in the end of 2015).
These are disappointing results, but eMagin says it is making considerable strategic business progress. On the technical side, eMagin is developing direct-patterning micro OLEDs, and expect to complete its development work under the Man Tech program in 2017. Military customers will be offered displays in the second half of 2017. The 2K x 2K full-color OLED microdisplay is also progressing is on schedule to produce engineering samples. Samples will be shipped to customers in the beginning of December.