WASHINGTON (dpa-AFX) - eMagin Corp. (EMAN), Monday reported fourth-quarter net income of $1.8 million or $0.04 per share, compared with $1.2 million or $0.04 per share last year.
Analysts polled by Thomson Reuters estimated earnings of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter were $8.3 million, compared with $8 million a year ago.
Gross margin for the quarter sharply fell to 49% from 65% last year, hurt by higher costs for production, depreciation and labor as well as a lower average selling price.
Based on current market conditions and scheduled shipments under existing and expected contracts and purchase orders, the Company expects revenues in fiscal year 2013 to range between $34 million and $39 million.
First quarter revenue is expected to increase about 39% over last year to about $8.5 million.
eMagin Corp. develops Active Matrix OLED microdisplays for high resolution imaging products.
Shares of the company are losing more than 9 percent in after-hours trade on the NYSE.
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