eMagin Corporation (EMAN) Offers Preliminary Q2 Results, Sees FY11 Revenue Between $29-$33 Million
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Financial Fact:
Total operating expenses: 3.71M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Total operating expenses: 3.71M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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eMagin Corporation (NYSE: EMAN) announced today preliminary financial results for the second quarter ended June 30, 2011.
The company is expecting revenue to be $7.4 million, 37% higher than first quarter. On a sequential basis, the gross margin improved from the 41% reported in the first quarter of 2011, as revenues increased and production improved.
Gross margin is forecasted to decrease from second quarter last year to 49% of revenue on gross profit of $3.6 million compared to a gross margin of 57% on gross profit of $4.7 million last year.
Operating expenses for the second quarter of 2011 maybe $3.0 million versus $3.8 million for the prior year period.
Second quarter operating income maybe $623,375 as compared to $959,534 in the year ago period. Adjusted EBITDA was $1.2 million in the second quarter.
At June 30, 2011, the Company had approximately $12.6 million in cash, cash equivalents and investments in certificates of deposit, compared to $12.4 million on December 31, 2010.
eMagin is guiding to 2011 revenue of between $29.0 and $33.0 million.
The company is expecting revenue to be $7.4 million, 37% higher than first quarter. On a sequential basis, the gross margin improved from the 41% reported in the first quarter of 2011, as revenues increased and production improved.
Gross margin is forecasted to decrease from second quarter last year to 49% of revenue on gross profit of $3.6 million compared to a gross margin of 57% on gross profit of $4.7 million last year.
Operating expenses for the second quarter of 2011 maybe $3.0 million versus $3.8 million for the prior year period.
Second quarter operating income maybe $623,375 as compared to $959,534 in the year ago period. Adjusted EBITDA was $1.2 million in the second quarter.
At June 30, 2011, the Company had approximately $12.6 million in cash, cash equivalents and investments in certificates of deposit, compared to $12.4 million on December 31, 2010.
eMagin is guiding to 2011 revenue of between $29.0 and $33.0 million.
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