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MicroEmissive Displays
- BY: Andrew Hore |
- POSTED: 13/05/2008 |
Low power, light emitting polymer microdisplays designer MicroEmissive Displays says that sales are weaker than hoped.
MED blames the weak consumer electronics market and the slow development of the market for head mounted displays. The company won’t reach month-on-month profitability until 2009.
The shares dived 13p to 12.25p, valuing the company at £7.27m.
The sales and marketing director has left the company and chief executive Bill Miller will take over the role.
MED has shipped more than 100,000 units to three global headset manufacturers and nine other manufacturers are designing its microdisplays into their products. Two Asian digital camera manufacturers are considering using MED’s screens.
MED generated revenues of £65,000 in 2007 and the reported loss was £7.11m. At the end of 2007, net cash was £5.55m. The cash outflow during the year was £4.14m, after the receipt of a grant of £2.67m.
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