HOPEWELL JUNCTION, N.Y.--(BUSINESS WIRE)--Dec. 10, 2019-- eMagin Corporation, or the “Company”, (NYSE American: EMAN), a leader in the development, design and manufacture of Active Matrix OLED microdisplays for high resolution near-eye imaging products, today announced an order of approximately $4.3 million for displays in connection with the U.S. Army’s Enhanced Night Vision Goggle – Binocular (ENVG-B) program.
“We have received a follow-on order from the Prime Contractor for the U.S. Army to supply our OLED microdisplays for the ENVG-B program. Deliveries are scheduled through mid-2021. We have received strong reviews on our microdisplays from warfighters and are pleased to be the sole display provider to this important program,” stated Andrew Sculley, CEO.
“We are excited to receive this order. We expect the ENVG-B program will be a multi-year opportunity for eMagin as the US Army’s acquisition objective is 108,000 systems,” added Mr. Sculley.
The ENVG-B increases the warfighter’s lethality, mobility, and situational awareness through innovative and state-of-the-art capabilities. It allows the individual soldier to see and act first under limited visibility conditions. Higher resolution stereoscopic displays allow for faster target acquisition by enhancing the separation of targets from the background.
About eMagin Corporation
A leader in OLED microdisplay technology, OLED microdisplay manufacturing know-how and mobile display systems, eMagin manufactures high-resolution OLED microdisplays and integrates them with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin’s microdisplays provide near-eye imagery in a variety of products for military, industrial, medical and consumer applications. More information about eMagin is available at www.emagin.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding eMagin Corporation’s expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company’s most recent filings with the SEC. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled “Risk Factors” in eMagin’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2019.
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Source: eMagin Corporation
Jeffrey Lucas, President and Chief Financial Officer
Affinity Growth Advisors