Romeoville, IL, - July 25, 2018 - Nanophase Technologies Corporation (OTCQB: NANX), a leader in personal care ingredients and products for protecting skin from environmental aggressors such as UV light and pollution, today reported financial results for the second quarter ended June 30,2018.
“Demand for minerals-based full-spectrum UV protection continues to increase as a part of a growing awareness of the limitations of chemical-based alternatives. The state of Hawaii has recently joined Australia in banning some of the more common UV absorbers used in the cosmetics and sun care markets to avoid their negative effects on marine habitats. We believe that this, along with increasing consumer preference for mineral sunscreen products, will continue to result in additional demand for our minerals-based ingredients. Among our offerings, we expect our zinc oxide active ingredients and formulated products to be the biggest beneficiaries of this market shift."
Jankowski continued, "Through the first major customer of our subsidiary Solesence, we had two successful launches of new finished products formulated by our team, as well as the successful launch of one intermediate ingredient, all three of which utilize our patented and proprietary Active Stress Defense Technology to protect people from the damaging effects of the Sun. In the second quarter of 2018, this volume composed more than ten percent of our total revenue. Further, we expect an additional product launch to come from a different customer later in the third quarter."
Second Quarter 2018 Financial Highlights
Six months Ended June 30, 2018 Financial Highlights
The Nanophase conference call, to be hosted by Jess Jankowski, the Company’s President & CEO, is scheduled for July 26, 2018, 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 4768618. 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 and ISO 14001 registered 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: 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; 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; and other factors described in the Company’s Form 10-K filed March 30, 2018. 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.