Here's How eMagin Fared In Q4

  • eMagin Corp EMAN reported a fourth-quarter FY21 revenue decline of 6.1% year-on-year to $7.2 million, missing the consensus of $8 million.
  • Segments: Product revenue rose 13.7% Y/Y to $7 million primarily due to the timing of specific orders from prime defense contractors and shipments under its ENVG-B program.
  • Due to higher product revenues, the gross margin expanded 800 bps to 24%.
  • The operating loss improved by 24.8% Y/Y to $(1.8) million. 
  • EPS loss of $(0.03) was in line with the consensus.
  • eMagin held $6.5 million in cash and equivalents.
  • "Thanks to our skilled workforce and their dedication to our mission of producing the world's leading OLED microdisplays, 2021 was a year of great technical achievement for eMagin," said CEO Andrew G. Sculley. "We ended the year with strong shipments of displays used in the Enhanced Night Vision Goggle–Binocular (ENVG-B) program, as we continue work on this advanced goggle to provide superior situational awareness, mobility, lethality, and protection on the battlefield."
  • Price Action: EMAN shares traded lower by 2.08% at $1.18 in the market session on the last check Thursday.
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