BELLEVUE, Wash.--(BUSINESS WIRE)--eMagin Corporation (NYSE Amex: EMAN), the leader in OLED technology for the design and manufacture of OLED microdisplays for high resolution imaging products, announced today that it has hired a design team consisting of five outstanding design engineers each of whom has had extensive experience working on the silicon backplane for eMagin’s newest and most sophisticated OLED microdisplay designs including the SXGA (1280 x 1024 resolution) and the TATRC WUXGA (1920 x 1200 resolution), as well as the two customer products designed in 2009 for 2010 manufacturing.
Andrew Sculley, President and Chief Executive Officer, stated, "eMagin enjoys a strong reputation within the industry for its state-of-the art microdisplay designs and next generation product development. The formation of an in-house design team strengthens our ability to more rapidly and more cost-effectively develop new generations of advanced microdisplays while protecting our intellectual property and technology know how. We also see a better integration between the design of the backplane and the OLED process with an in-house design group.”
Mr. Sculley continued, “The Company is experiencing a significant increase in demand for its proprietary OLED microdisplays and is expanding its product line to address this growing demand. In addition, eMagin continues to deliver on research contracts that require design engineers to develop new designs as deliverables. Often these designs are for smaller, lighter, more efficient and higher resolution displays that will become important revenue drivers for the Company. These research contracts and contract extensions constitute a large percentage of our total revenues and the formation of an in-house design team is a critical step toward the achievement of our ambitious growth objectives.”
About eMagin Corporation
A leader in OLED microdisplay technology and personal display systems, eMagin integrates high-resolution OLED microdisplays with magnifying optics to deliver virtual images comparable to large-screen computer and television displays in portable, low-power, lightweight personal displays. eMagin microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. The Company's own Z800 3DVisor provides 3D stereovision and headtracking for PC gaming, training and simulation, immersion therapy, and other 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. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.