Revenue for the three and twelve months ended December 31, 2008, of approximately $5.3 million and $18.7 million represent increases of 14 % and 7 % from $4.6 million and $17.6 million in 2007. Improved gross margins are a result of strong production volume and improved yields, and increased R & D contract revenue fueled the reported growth, resulting in eMagin’s highest earnings in the Company’s history.
At the Society for Information Display Conference, eMagin demonstrated its SVGA+ Rev3 OLED-XL microdisplay, which the Company believes to be the most power efficient OLED solution for near-eye personal viewer applications. The SVGA+ Rev3 display uses less than 115 mW power in monochrome, beneficial for applications such as thermal imaging, and lower than 175 mW at 400 cd/m2 for full color video. While retaining the functional and design characteristics of eMagin’s original SVGA OLED microdisplays, the Rev 3 provides simpler calibration over temperature and is ideal for demanding binocular luminance and color matching, responding instantly at temperatures as low as -40 degrees C.
– eMagin introduced its SXGA (1280 x 1024 triad pixels) OLED-XL microdisplay, which offers both analog and digital signal processing in a compact package (0.77-inch diagonal active area) requiring less than 200 mW under typical operating conditions of 100 cd/m2, full-color. Design enhancements include increased pixel uniformity, improved color gamut, on-chip temperature sensor and compensation, and very high contrast. This high-density OLED-on-silicon microdisplay promises an easy-to-integrate solution for many virtual imaging systems.
– eMagin was awarded a purchase agreement for 20,000 displays to equip OASYS’ Remote Eyepiece Display-Imager (RED-I) head mounted display system for the US Army’s Thermal Weapon Sight (TWS: undefined, undefined, undefined%) Remote Viewer program.
– eMagin was notified that for the second year in a row the Company was included on Deloitte’s Washington State Technology Fast 50 listing of the fastest growing technology, media, telecommunications, and life sciences companies in the state, ranking 17th with 5-year revenue growth of over 500%.
– eMagin has received notification of funding for more than $8 million for contract R&D programs to be executed through 2010. The programs assist in the development of power efficient microdisplays for night vision and for greater than HDTV resolution displays for training and simulation.
– eMagin noted that the Company continues to make the progress on yield improvement; resulting in both better costs and more capacity.
