Lest euch mal den Bericht durch. Nur gutes zu lesen. Das beste ist u.a. das das Management ein Aktienrückkaufprogramm starten wird bis zu einer Höhe von 2.5 Mio USD. Ein Blick in die Bilanz lohnt sich ebenfalls dabei, da eMagin fast keinerlei langfristigen Verbindlichkeiten hat...
Die teilweise starken Anstiege der Aktie sind also nicht unberechtigt.
Ging ja ganz schön zur Sache die Tage... aber was wird denn jetzt passieren???
War das der erste Ausbruch und jetzt kommt nur eine vernünftige Konsolidierung?
Wenn es nur eine Konso ist dann sollten wir Intraday die 3,30 $ nicht unterschreiten...und auf Tagesschlusskurs nicht unter 3,50 $ ( 200 Tagelinie ) schließen... Well see... und alles nur meine Meinung...
Neuer Report von heute...
New Report Head Mounted Display (HMD) Market (2012 - 2017) By MarketsandMarkets
eMagin Inside, cogent explanation why eMagin displays are winning out when it comes to upgrading TWS, NVG et al for the World's advanced Militaries. Smaller Size, Lighter Weight and reduced power requirements.
New Report Head Mounted Display (HMD) Market (2012 - 2017) By MarketsandMarkets Head Mounted Display Market report provides a comprehensive HMD market review, market roadmap with market size estimates, revenue forecasts, value chain, market & product trends, competitive landscape, leading players, and their key developments, strategies and profile.
eMagin Unveils New Active Matrix OLED Microdisplay WUXGA OLED-XL is World's Highest Resolution, Full-Color Microdisplay Enabling Development of Next Generation Industrial, Commercial and Consumer Products
Ich werd mich am Wochenende mal schlau machen und meiner Bank ne Mail zum Sachverhalt schreiben, und wie sich das mit der Quellensteuer, dem Doppelbesteuerungsabkommen, dem Formular W8Ben, dem Freistellungsauftrag für Kapitalerträge und dem Gewinn-Verlusttopf bei SONDERDIVIDENDEN von US-Aktien verhält.
Ps.: Solltest du auf jeden Fall auch machen weil ich nicht weis ob dein Broker ein Doppelbesteuerungsabkommen mit den USA hat ( Quellensteuer 15% ansonsten 30% ). Dann brauchst du das W8Ben Formular. Kommt auch noch drauf an ob du ein Steuerinländer oder Steuerausländer bist.
Pps.: zu Emagin werd ich bei Gelegenheit mal wieder was schreiben. ( Bin grad etwas wegen der Arbeit gestresst ) Ich bleibe auf jeden Fall dabei. Die Q4 Zahlen sollten auch besser ausfallen als Q3. Sodas wir auf einen Jahresumsatz von 32-33 Mio. Dollar kommen sollten. Alles unter 30 Mio. Dollar währe vermutlich ( auch für mich ) wieder eine Enttäuschung!
Emagin zahlt übrigens die Sonderdividende aus steuerlichen Gründen, weil in den USA die Kapitalertragssteuer von 15% auf ...??? ( mir noch nicht bekannt ) angehoben werden soll !!! Fazit: ich finde das ist sehr Aktionärsfreundlich !!!
Zahltag der angekündigten Sonderdividende von USD 0,10 soll der 27.12.2012 sein. Pauschal verrechnet der Amerikanische Staat 15% Quellensteuer, welche aufgrund des Doppelbesteuerungsabkommens sofort in Deutschland wieder erstattet wird. Darüberhinaus ist im Moment davon auszugehen, dass in Deutschland eine reguläre Versteuerung vorgenommen wird. D.h. eine Anrechnung auf den Freistellungsauftrag oder Abzug von Abgeltungssteuer und Einbuchung in den Verrechnungstopf für "Sonstige Erträge".
Eine davon abweichende Behandlung ist uns nicht bekannt.
Mit freundlichen Grüßen
...also nix mit Steuerfrei...typisch Deutschland... :-)
eMagin Corporation at Needham Growth Conference - Final
Corporate Participants * Andrew Sculley eMagin Corporation - CEO, President & Director * Paul Campbell eMagin Corporation - CFO, PAO & Treasurer Presentation UNIDENTIFIED PARTICIPANT: We're going to go ahead and start our next presentation, which will be from eMagin Corporation. EMagin, a somewhat local company based not too far from here and is in the OLED microdisplay space. We have with us the Company's CEO and CFO. We will do a standard presentation and Andrew Sculley will give the presentation. Paul Campbell, the CFO, will also be available for Q&A. So I would like to introduce the Company's CEO, Andrew Sculley. ANDREW SCULLEY, CEO, PRESIDENT & DIRECTOR, EMAGIN CORPORATION: Thank you for coming. I appreciate it very much. I am Andrew Sculley, the CEO, and Paul will also present. He is in the front row here. We make OLED microdisplays and I will talk about them as we go on. So this is cautionary statements. You know more about this than me and there will be a quiz later. We have a strong team in place. I will let Paul Campbell give you some of his background when he gets up. My background, I came from the company that invented OLED. I ran the OLED group. We had a joint venture in Japan with Sanyo, made large displays and that company is now in trouble. They sold the OLED effort about a year and a half after I left and that is Kodak. But we had a lot of experience bringing up OLED equipment, etc., and this Company eMagin is very advanced. I'll talk about that later. Next, after Paul, the next gentleman on the list is Olivier Prache. He has been working at product development. We have -- he has done an outstanding job bringing products from -- it used to take those two years to develop, now it is less than a year. Amal Ghosh actually worked with me in the past company also. That is Kodak, strangely enough. But Amal is a very creative guy who has brought a lot of good ideas and he set up our processes in the clean room for eMagin over 10 years ago. Jerry is a recent hire for us. He is the Senior Vice President of Business Development. He comes to us from a step above displays and that is the optics and the modules that the displays go into. And he is an outstanding candidate. Been with us about a year now. Just so you understand what microdisplays mean, the display on the right-hand side, that is an optic. The display is that small. It is less than an inch in diagonal. We have a display that is less than an inch in diagonal that is higher resolution than your full HDTV in your living room. Obviously you wouldn't like to look at a picture on that, but if you magnify it that's an optic. With an optic, it both magnifies it and looks like an image out in front of your face. It is a virtual image. You ever see yourself in a mirror, of course, it looks like you are back in the mirror. Same thing here. And the right-hand side, it is clearly a night vision applications. We will talk about the spaces we are in in a moment. But the picture on the left says that image could come from any video source. Your smartphone, for example. You plug your smartphone into this, now you are looking at a full HD screen. You look at one in three dimensions right from your smartphone. So that is the idea. We have one major competitor now who's -- they used to be twice our size in the display arena. That is Kopin in Massachusetts. Today they are more like equal to us. So we have been gaining the share significantly. And if you look at the advantages of OLED versus LCD, power is number one. Our applications are mobile. We'll talk about that in a minute. Wider temperature range and this is true for the military or we are in electronic viewfinders for cinematographer cameras, for example. You obviously need a wide temperature range there. Higher contrast. This is black is black, it makes the picture pop. High-end LCDs have high contrast for your TV. And we can also -- we are also trying to make the resolution higher and higher, but our customers don't want the display too big because then the mobile application becomes difficult. And OLED is particularly good for that and our Company is particularly skilled at making that happen. And the final one. Faster response time. That's in terms of microseconds, this is a pure solid-state device. So ours is much better than LCD. I should take a moment. As Jim said, I was -- we are in the neighborhood where we manufacture up north and near Poughkeepsie in an IBM space. We rent some clean room. And our process is very highly technical. We put the OLED down in a vacuum of one billionth of an atmosphere. Putting down layers of about 20 nanometers. So all of these things that are advantageous for OLED, part of that is also because we are very highly skilled in making this happen. Our goal has been to dominate the OLED microdisplay business or actually the microdisplay business and we are dominating versus our LCD competitor. We continue to make cost-effective advances in our technology and I give you examples in making inroads. We have gained significantly in the defensive military. Today we are about 70% or so of military. We have also made some inroads in industrial and medical. I will give you examples. And in the consumer side, well let me give you one industrial medical. We've -- now we are in the, I mentioned, viewfinder for cinematographer camera. That is the camera you put the viewfinder up to your eye to shoot the film and aim it. And they wanted a very high-end display and that is why they picked us. On the consumer side, we are working to get into the electronic viewfinder market. It is in the high-end cameras. Low-end cameras, of course, are going away, being replaced maybe by your smartphones, but the high-end cameras for a photographer who really wants to take pictures still is a very good market. And the task here is to increase the volume and lower cost and we are doing that. We are increasing the capacity. We recently put in a new piece of equipment. This is -- everything you see here is one new machine. This is an OLED deposition machine. It just gives you a feeling of size. That is an individual there, obviously working on the machine. It is 28 metric tons. So it's a very large machine that is making these tiny displays. So the -- this machine will increase our capacity for OLED deposition about tenfold. They have a long way to -- a good way to go. It improves the consistency of the output versus our current equipment. Current equipment by the way is an R&D machine that we have converted to production. That is a difficult thing to do because in R&D if you had one out of 10 come out right it is okay. It proves your point. One out of 10 for production is pretty bad. That reminds me when I first walked in the Company we had a long way to go. And now with this new equipment, we can do a much better job. It also gives us much greater flexibility. An example, the old machine, every time we changed from one display to another we had to take the machine down, repump the vacuum and it takes 16 hours at least to do that. With the new machine obviously it is a production tool, you change the masks inside the vacuum. No need to pump down. Our markets. I mentioned earlier about 75% is military. The main military market's in the middle. That is thermal imaging. That is thermal weapon sites. We won a little while ago a new modernization program of that for a remote viewer and now we are working on the clip on thermal weapon site. What good things about the US military and other militaries they want to modernize. So even though you might say the military budget is going to come down, I will give you an example of one we have won. It's the new night vision goggle, enhanced night vision goggle program. There are two sources of night vision. One is amplified visible light. There is one star, I want to amplify that so I can see things, and the other one is infrared. All of us give off infrared light and we glow. So the government said I don't want two. I want one. And so I am going to modernize. I want to fuse these images and have both amplified and infrared in the same device. So they put that out for bid. Our integrators, all the integrators went to the display company and we won. And so, we are in with Exelis, formally ITT, and we are in with the other winner in that. So that is how we win the new programs. And now there are -- these new programs are building up so that they can have enough units to field. The other two are much smaller situational awarenesses. Think of it as the soldier's GPS. A little information from the General, what do you want me to do, one or two people per platoon. The other ones are much more prevalent in thermal imaging and the last one is simulation in training. And that obviously is good for the military, but also good for any other thing. We had a welding company who wanted to have some headsets for simulation and training to train welders before they actually got on the real tools, as an example. Now this is industrial. The middle one is simulation and training for eye surgery. That looks like the equipment that will be used for eye surgery, but the image that the gentleman is seeing is right from our display. So, again, simulation and training is widespread. In the right hand side, in the middle, that's a thermal imaging camera for industrial purposes made by FLIR. So the idea here is you can see down below it is the powerline giving off heat that it shouldn't. Or as the gentleman is looking at a piece of industrial equipment going up -- is that hot where it shouldn't be, et cetera. And we are in that because they wanted a high-end display to see the contrast, et cetera. In the lower left is a unique application that we probably wouldn't have guessed that. That is a veterinarian giving an ultrasound, in this case, to a cow, but it is any large animal. They wanted a mobile display. What better than we sell them the optics and the display they put into their headsets, attach it to the ultrasound and there you go. So any mobile application like that. Again, including if you wanted to see a personal HD large image for your smartphone, the idea is you could use one of these displays -- one of these headsets too. In the upper right is an example. We have a very high-end augmented reality application that we work with a company in Japan on. Can't say the name, forgive me, it is under NDA. And that is an example of one. Theirs is much higher end but we think this will occur, too, in the future. That gentleman is wearing a headset that is see-through, but it puts information in his view. And that information is the orange around it, reddish orange. So he looks at a package, he has a barcode reader, reads the barcode or the actual headset can read the barcode and, then, he sees additional information. When do I need to ship it. Where does it need to go, et cetera. So any high-volume shipping can have something like that. In the consumer side, as I mentioned, the one that exists today is a digital camera, electronic viewfinder. Again we are talking about the high-end. Not the ultra high-end, but one step below that. There's still significant volume and our potential customers expect that volume to increase over the next -- this year and the next year. But there are obviously other ones. We do get a lot of questions about gaming. So I think gaming might make a comeback. We made a headset for U.S. Army telemedicine and we have actually attached that to a very high-end PC that you can't buy yet, but with a 3D game and tested it out with a number of people and it looks very good. Very interesting. And the idea is I put it on and I can look to my right, I see the right side of the game. I look to my left, I see what is on the left. So it's virtual reality. And we do have some interest in that. So we are looking for growth in the future in these types of applications. We also have questions coming to us about augmented reality from the point of view, I want a very bright display in full color. So we are working on very high-efficiency bright displays. We have monochrome displays today that are three times our current brightness and this is, for example, on the military side it's for a fighter helmet. I have the fighter in the front, he has the faceplate. We project with the display on to the faceplate, during today I want to see icons and these fighter pilots want to fly into the sun and still see the icons. So they need it very bright. I can give you an example. This group may be about maybe three maybe it is 400 candelas per meter squared or nits about where you guys are sitting right next under the lights. Our display, these guys can get up to about 15,000 or 17,000. You have got to keep it down a little bit for the lifetime. So it is how bright we can make these things. And we can make monochrome today, but we are working on color. And that one is tough. But we have a program with a government that we will talk about later that is actually attempting to propel us to color. Next thing on the -- is the size of the pixel. We have been asked to do it 2000 x 2000. You have to pack more pixels in a smaller spot. We can get to 8.1 micron, 3 sub pixels in there. We can probably get to less, but people get nervous. Full dynamic range at low luminance. So why do you need the low luminance? Well, the guy who is looking, the cinematographer camera shooting in the dark, wants to be able to look away from the camera because the director is waving madly at him and he wants to see that camera, the director. But at that -- so he doesn't want to be blinded by the high brightness, the EVF. So we need to be able to turn the EVF -- sorry, electronic viewfinder -- down very low, but still get full dynamic range, full contrast. We also have electronics that will improve the motion artifacts. If you ever had an LCD TV, the old ones used to -- the soccer ball would disappear or the hockey puck would disappear. Well, these little displays are in the LCD arena are tough to do away with that. For OLED, we don't have that problem. However, our customers had said you need to do even better and we've virtually eliminated that. And as I mentioned earlier, that Olivier Prache has improved the display cycle time significantly. So a lot of effort in R&D cost-effectively, of course. Some of it is funded by the government and also other companies have funded us in the R&D. Now what I would like to do is turn it over to Paul to talk about business growth and we will open it up to questions at the end. PAUL CAMPBELL, CFO, PAO & TREASURER, EMAGIN CORPORATION: Thanks, Andrew. Just quickly on my background. I spent my young career at PepsiCo in the finance function. And then I was a public company CFO for about 11 years from 1990 through 2001. I retired, I formed my own company and we made investments and operated small companies. I sold that and I went into consulting and I was consulting when eMagin hired us to come in. It was a turnaround situation in 2000 -- early 2008, about the same time that Andrew arrived at eMagin. And we were able to do some good things with the Company and I was interested in staying on as CFO. And we were able to work that out. So here I am. Business growth and financial highlights. We have a really strong, broad, quality customer base. And we are a small company, people don't realize this, but last quarter we had over 170 customers working with all kinds of different situations, prototypes of new OLED devices or OLED-driven devices and headsets, military, nonmilitary, commercial, consumer, all kinds of things. But most of our revenue comes from large defense contractors and I will show you some of those names in a second. And almost 50%, it varies each quarter, but 40% to 50% of our revenue is non-US. So we have a very broad quality customer base. The collections are very easy. For example, most of these customers are pretty good credits. And here are some of those names and you will recognize some. I will just point out a few. L-3, a quality US company; Elbit, quality Israeli company, and so forth and so on. Recent wins and Andrew mentioned a couple of these. But these are important so we picked these out to talk about. The $2.4 million R&D contract from the Navy is very important because high brightness is such a big topic in our field right now, to make the OLED really bright. And before we were doing this you couldn't really use OLED for avionics because in the cockpit situation you couldn't get it bright enough. But the Navy has selected our display and we are working on a 2K by 2K display just for that purpose for the Navy. So it's a very important project for us. The second one is a $3.5 million contract, and Andrew mentioned this one, for ITT. And this is important also because we are doing a module here. So we are not just selling that -- we are mostly a component supplier, but we've -- we are doing a few other things now and this is one of them where we do a module and you attach a display to something else and sell the larger package. So this is -- that is what the [DBCA] is. It is a beam combiner. So we are attaching our display to a beam combiner and selling it to ITT. So it is additional revenue source for us. And the third one, $2.7 million, this is the clip on thermal site and this is important. The TWS program has been the major program in the military for microdisplays for several years, many years. And Kopin formerly dominated this segment and their big program was the TWS program. And now we have won this next portion of the TWS program. So we have displaced the LCD technology with the OLED technology. Our latest quarter financial results, income statement, revenue settled in $0.5 million, a strong gross margin at 49% and EBITDA's strong at $1.2 million. We normally run somewhere between 20% and a little over 30% in EBITDA percentage. So the Company, even though we are small and smaller in revenue, we are very profitable and produce a very strong cash flow. On the balance sheet at the end of Q3, we have $16.6 million and no debt. And in the fourth quarter, the Board made a decision to return some of that money to the shareholders. We did a $3.1 million one-time dividend and rewarded our long-term shareholders for their loyalty in that way. We don't plan on doing that again, but you never know. We also have a credit facility for $3 million. We have had it in place for over four years. We have never drawn on it, but it is there if we need it. So our cash position is very strong and the balance sheet is extremely clean. No debt. Here's a quick history of our financial performance over the past four years. And you can see in 2010, our revenue started to level off a little bit and it really wasn't from the demand side. It was more from our ability to produce the displays and reaching a point of capacity in our manufacturing plant. And at this point in time, we have added new equipment as Andrew mentioned, and we hope to see that topline expand now that we have a new equipment. But even so, on the gross margin we have been over 60% on gross margin when things were running well. And last year in an effort to please our customers and get out as much product as we could, we lost a little bit of that gross margin. But still we have the capability to run in the 60 percents. Operating income has been very strong at $6 million in 2010 and $3.5 million last year and adjusted EBITDA was almost $10 million in 2010. And then last year, $6 million. So, key initiatives that drive growth. We have already extended our product line. We have six display platforms, more than any of our competitors. We have a couple of competitors that sell OLED microdisplays, one in China, one in France and one in Japan, actually. And that is about it, where you can get OLED microdisplays. But we have the most extensive line of products. Six platforms of display, each of that -- each of those have variations. And we intend to keep doing that. And we also intend to keep, as Andrew mentioned, putting money into R&D. We spend a lot on R&D, so we have the most extensive product line and the most technical, highest quality microdisplay you can buy. Capacity, we talked about expanding that already and that will add significantly to our Company's financial results. And improving yield is another important point. Our yield is still very low and the technology around the OLED is still happening where improvements are being made not on a daily basis, but it seems like that. So as we go forward, we expect the yield on the product to improve significantly as well. And these days, it is well below 50% and we don't see any reason why it couldn't be up into the 70% or even 80% range at some point. So there's a lot of potential going forward on improving yield. And any yield improvement will translate to improved income statement performance. So that is very exciting for us. So we will take questions ... QA session not included in transcript...
eMagin Corporation Fourth Quarter 2012 Earnings Conference Call to be Held on Monday, March 11, 2013
BELLEVUE, Wash.--(BUSINESS WIRE)-- eMagin Corporation (NYSE MKT: EMAN) will release fourth quarter 2012 earnings and host a conference call that will be webcast on Monday, March 11, 2013. Management will discuss financial results for the fourth quarter of 2012, ended December 31, 2012, and provide a corporate update. The conference call and live webcast will begin at 5:00 p.m. ET. An archive of the webcast will be available one hour after the live call through April 11, 2013. To access the live Webcast or archive, please visit the Company's website at ir.emagin.com or http://www.earnings.com. 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 microdisplays provide near-eye imagery in a variety of products from military, industrial, medical and consumer OEMs. More information about eMagin is available at www.emagin.com.
Contact: eMagin Corporation Paul Campbell, 425-284-5220 Chief Financial Officer email@example.com