Hyunjoo Kang / firstname.lastname@example.org
eMagin, an OLED microdisplay company which is a technology that is needed for VR device, AR device, medical device, etc., showed 3.8% fall in H1 2016 sales compared to the same period last year with net loss of USD 2.404 million.
According to eMagin’s Q2 2016 performance results announced on 11 August, the company recorded sales of USD 5.5 million in sales, a decrease of approximately 11% compared to the same period in 2015.
As such, eMagin’s total sales in H1 is USD 12.534 million, approximately 3.8% less than H1 2015. While the product sales did not significantly differ, the government contracts suffered compared to the same period last year. However, the company recorded profit of USD 1 million in licensing revenue which did not occur in H1 2015. eMagin holds VR headset related intellectual property rights.
eMagin recorded a net loss of USD 2.164 million in Q2 2016, and a net loss of USD 2.15 million in H1 2016. Compared to the net profit of USD 0.254 million in the same period last year, this is a fall of USD 2.404 million. Andrew G. Sculley, CEO of eMagin, explained that the government contract volume was low and there were some manufacturing equipment downtime. He emphasized that eMagin is the only company that can satisfy the resolution and luminance demanded by the expanding VR and AR market.