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Thursday, October 24, 2013

I've Followed and been a Shareholder of eMagin (EMAN on the AMEX)

for a long time, as the old canard goes, longer than I care to remember. It's funny, eMagin has had an unusual trajectory in it's relatively short existence. Of course, it participated in the insanity of the dot.com bubble, that was way before my time. I found it when it was struggling for existence but I found the technology so compelling I felt that it would have to win out over it's competitors in time. But I've noticed the industry wide phenomenon, OLED anything is difficult to make and very difficult to make economically. And eMagin has certainly shared the difficultly that any number of OLED manufacturers have encountered.
 There was a shared expectation among investors that the new machinery that eMagin installed would overcome the challenges of producing microdisplays in yields high enough and economically enough that could grow the market and the company and do so profitably.  But it's pretty clear that as a pioneer and we know it's pioneers that always get arrows in their ass that it has been and is a rocky road. So, as the Quarterly approaches I expect the usual, manufacturing progress slow but measurable, no earthshaking customer announcements, hopefully the naming of a competent, effective new Director of Manufacturing but there will be something, something will be amiss, I don't know what that will be, big problem, small problem, medium sized problem, made up problem, but whatever it is it will read like this the next morning :

         Seventh Cavalry!!!  
     Disaster in Montana
     All Feared Loss, 10,000 
     Sioux!!! Custer Dead!




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