Nanophase Announces Second Quarter 2015 Press Release and Conference Call; Investor Update
Romeoville, IL, – June 3, 2015 - Nanophase Technologies Corporation (OTCQB: NANX), a technology leader in nanomaterials and advanced nanoengineered products, today announced financial results for the second quarter, ending June 30, 2015, are scheduled for release after close on July 29, 2015. A conference call is scheduled to follow on July 30, 2015 at 10am CDT (11am EDT).
“We discussed lower order volume from our largest customer during the first quarter, so felt it appropriate to provide an update now that we have better visibility,” commented Nanophase CEO and President Jess Jankowski. “We believe that an increase in the combined inventory position in the supply chains of our largest customer and its customer base during 2014, along with some changes in downstream demand, caused a significant reduction during the first half of 2015. We believe this business will be off by approximately $1.5 million this year in total, with approximately $1.2 million of this being in the first half of 2015. Fortunately, we withstood the first $0.7 million during the first quarter, replacing most of this decrease with new revenue. As with the first quarter, we expect to see some offsetting revenue in the second quarter, but not enough to absorb the decrease from this customer.”
Jankowski continued, “As we discussed previously, personal care has long held an outsized impact on our overall performance. It is a sound and profitable business and one that we are committed to, but the impact of fluctuations here provides support for our goal to develop complementary revenue streams in different channels. We continue to expand our business in other markets. We look forward to discussing all of our business areas next month.”
Shareholders and members of the financial community are encouraged to participate in the upcoming conference call, where Mr. Jankowski will discuss the company’s current and long-term prospects.
Second Quarter 2015 Conference Call
The Nanophase conference call, to be hosted by Jess Jankowski, the Company’s President & CEO, is scheduled for July 30, 2015, at 10:00 a.m. CDT, 11:00 a.m. EDT. The conference call dial-in number for U.S. callers is 877-312-8776 and for international callers is 408-774-4007. The conference ID is 60021962. Please dial in to the conference at least five minutes before the call is scheduled to begin.
The call may also be accessed by clicking on the link here to listen to a webcast of the event.
About Nanophase Technologies
Nanophase Technologies Corporation (NANX), www.nanophase.com, is a leader in nanomaterials technologies and provides nanoengineered solutions for multiple industrial product applications. Using a platform of patented and proprietary integrated nanomaterial technologies, the Company creates products with unique performance attributes from two ISO 9001:2008 and ISO 14001 facilities. Nanophase delivers commercial quantity and quality nanoparticles, coated nanoparticles, and nanoparticle dispersions in a variety of media.