eMagin expects to report revenues to be $5.3 million for the fourth quarter of 2008, up about 13.5%, compared to the revenues in the previous year quarter.
The fourth quarter gross margin remained at 51% of revenues compared to 24% in the previous year quarter. Full year gross margin for 2008 is anticipated to be about 43%, a significant improvement over the 28% margin recorded for 2007.
Net income for the fourth quarter of 2008 is about $0.6 million compared to a net loss of $1.2 million in the previous year quarter.
“Through ongoing cost reduction efforts, improvements in our production processes and growth in sales, we have been able to substantially improve our performance,” stated Andrew G. Sculley, eMagin’s chief executive officer and president.
