eMagin Corporation Announces Significant Order for Military Program
11 December 2019 - 12:01AM
Business Wire
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.
Forward-Looking Statements
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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version on businesswire.com: https://www.businesswire.com/news/home/20191210005307/en/
eMagin Corporation Jeffrey Lucas, President and Chief Financial
Officer 845-838-7931 jlucas@emagin.com
Affinity Growth Advisors Betsy Brod 212-661-2231
betsy.brod@affinitygrowth.com
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