Uerkwitz Oppenheimer eMagin $EMAN @ Inflection Point Finally

“eMagin reported 4Q16 earnings on 3/28. While continued winding down of old military contracts drove the weak 4Q, we think eMagin has finally reached an inflection point. With an expected ramp of new military programs, Blaze products making their way to consumers, and revenue-producing development contracts with (now) three major consumer electronics companies, we expect 2017 growth, and the most diversified revenue stream in the past ten years. This sets up 2018 and beyond rather nicely. We maintain a Perform rating for now, however, as we have time to watch the development of a manufacturing strategy, and real consumer shipments of headsets are likely over a year away.”