Emagin Corporation (EMAN) Tops Q1 EPS by 4c

Emagin Corporation (NYSE: EMAN) reported Q1 EPS of $0.00, $0.04 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $7 million versus the consensus estimate of $7 million.

Outlook

“Looking into 2016, we are encouraged by what we believe to be expanding end markets for Virtual Reality, Augmented Reality and Night Vision applications leveraging our leading OLED technology. We believe our technology approach in these markets remains superior to the competition,” continued Mr. Sculley.

“While military product sales held steady in the quarter, we believe that future growth in this segment will be largely driven by newer contracts and programs that are currently under review to receive funding for next generation technology.

“Our military contract R&D efforts, where we work closely with the U.S. government and with international companies on designing next generation requirements and specifications, position us well to capture these new production contract vehicles when awarded. Overall we feel eMagin’s presence in both domestic and international military markets remains quite strong.

“For 2016, we are focusing on the following objectives:

• Expansion of our presence in major military programs and overall customer count,
• Further progress on display sales under the commercial licensing agreement that we signed in December,
• Advancement of discussions with high volume production partners to incorporate our technology into displays and other products,
• Continued progress in manufacturing improvements,
• Consolidation of our finance and procurement functions from our Bellevue to Hopewell Junction facilities,
• Potential new product introductions in the commercial sector to leverage our leading display and headset technologies. These new products have the potential to provide revenue this year.

“We look forward to updating you on our progress during the year,” concluded Mr. Sculley.

For earnings history and earnings-related data on Emagin Corporation (EMAN) click here.

You May Also Be Interested In

• Ondas Holdings Inc. (ONDS) Misses Q2 EPS by 9c
• Boxlight Corporation (BOXL) Tops Q2 EPS by 2050c
• CorMedix (CRMD) Tops Q2 EPS by 6c; Offers Guidance