eMagin Registers 17% Revenue Growth In Q4 Backed By Robust Bookings; Reports 41% In Gross Margins

March 9, 2023 9:11 AM | 1 min read | Make a Comment

Hopewell Junction, New York-based eMagin Corp EMAN reported fourth-quarter FY22 revenue growth of 17% year-on-year to $8.39 million.
Bookings for the fourth quarter were strong, including a $1.7 million order for the F-35 Helmet Mounted Display System and more than $2 million in medical applications.
The backlog of open orders as of Dec. 31, 2022, shippable within 12 months, was $14.8 million.
Segments: Product revenue rose 10.5% Y/Y to $7.75 million, primarily due to increased military market revenues.
Due to higher product revenues, the gross margin expanded by 1,700 bps to 41%.
The operating loss improved to $(0.1) million versus $(1.8) million a year ago.
EPS was $0.01.
eMagin held $4.3 million in cash and equivalents.
Price Action: EMAN shares closed higher by 2.83% at $1.09 on Wednesday.