Nanophase Reports Second Quarter 2017 Financial Results

 

The company's financial conference call is scheduled for July 27, 2017 at 11am EDT

 

Romeoville, IL, - July 26, 2017 - Nanophase Technologies Corporation (OTCQB: NANX), a technology leader in nanomaterials and advanced nanoengineered products, today reported financial results for the second quarter ended June 30, 2017.   

“We have now reported net income in three of the past five quarters", commented Nanophase CEO and President Jess Jankowski.  "As we advised a year ago when we first broke through the net income barrier, this is only one of several steps toward accomplishing our larger goals.  Still, it is a degree of validation that our strategy is starting to pay off.  We have also achieved these financial milestones while continuing to invest in developing our fully formulated skin care portfolio and solar control business."

2017 Q2 Financial Information

Six Months Ended June 30, 2017 Financial Highlights

Second Quarter 2017 Financial Highlights

  •    -Revenue for the second quarter was $3.6 million in 2017 and $3.7 million in 2016.  
  •    -The net profit for the quarter was $20,000 in 2017, or $0.00 per share, compared to a net profit for the quarter of $0.5 million, or $0.01 per share, for 2016. 
Jankowski continued, "We are in the process of building new revenue streams in personal care and solar control. We are also actively seeking to develop corporate relationships to sell and promote our products in areas and situations that, while profitable, don't represent our best opportunities for rapid growth.  These allow us to focus investment in product-and business-development in strategic growth areas that we believe will create the highest return.  The deal that we announced last month with Eminess Technologies, Inc. is an example of such a relationship, where both of us hope to maximize our strategic leverage in the markets for polishing materials. Revenue from that relationship will begin during Q3 2017." 

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 2017 Conference Call

The Nanophase conference call, to be hosted by Jess Jankowski, the Company’s President & CEO, is scheduled for July 27, 2017, 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 38470835.  Please dial in to the conference at least five minutes before the call is scheduled to begin.  

The call may also be accessed through the company’s website, at www.nanophase.com, by clicking on Investor Relations, Investor News and the link in the conference call announcement release.

Use of Non-GAAP Financial Information

Nanophase believes that the presentation of results excluding certain items, such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with generally accepted accounting principles. 

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.   

Forward-Looking Statements

This press release contains words such as “expects,” ”shall,” “will,” “believes,” and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company’s current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company’s results of operations, performance and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: the Company's ability to be consistently profitable despite the losses it has incurred since its incorporation; a decision by a customer to cancel a purchase order or supply agreement in light of the Company’s dependence on a limited number of key customers; the terms of the Company's supply agreements with BASF Corporation, which could trigger a requirement to transfer technology and/or sell equipment to that customer; the Company's potential inability to obtain working capital when needed on acceptable terms or at all; the Company's ability to obtain materials at costs it can pass through to its customers, including Rare Earth elements, specifically cerium oxide, as well as high purity zinc; uncertain demand for, and acceptance of, the Company’s nanocrystalline materials; the Company’s manufacturing capacity and product mix flexibility in light of customer demand; the Company’s limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company’s dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue for its securities; and other factors described in the Company’s Form 10-K filed March 29, 2017. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies.