SpatiaLight is expected to ship first 200 of its imagEngine micro...
SpatiaLight is expected to ship first 200 of its imagEngine microdisplays this month to Skyworth Display and another 400 by end of 3rd quarter, company said in quarterly filing with SEC. Delivery of 0.77” displays is first since Skyworth…
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signed agreement in Jan. to purchase 14,100 units, first of which originally were scheduled to ship in March. Skyworth initial order in 2002 was for 30,000 units. Display has 1,280x1,024 resolution, 350:1 contrast ratio, 300-400 lumens. After shipping first 600 units, SpatiaLight is required to deliver 1,500 per month until order is complete, company said. SpatiaLight is developing microdisplays using Fuji Photo Optical light engine and Varitronix is assembling device. SpatiaLight signed series of agreements with manufacturers including China Electronics and Hisense, but Skyworth is first to take delivery of product for use in rear-projection TV. China Electronics showed 52” rear- projection TV based on SpatiaLight’s imagEngine at Society for Information Display show last year. Daewoo Electronics signed licensing agreement with SpatiaLight earlier this year. Meanwhile, SpatiaLight said 2nd-quarter loss widened to $3.1 million from $1.2 million year earlier as stock-based and general expenses soared to $1.4 million from $3,000 due to stock sale in May. Selling, general and administrative expenses jumped to $915,000 from $581,000 because of payment of $250,000 banking fee incurred by acting CEO Robert Olins. SpatiaLight also raised $2.7 million in private placement on Aug. 8 of 1.2 million shares priced at $2.28. Money raised through private placement coupled with $1.4 million in anticipated stock subscriptions will fund SpatiaLight’s operations through 2004, company said.