Nanophase Technologies Corporation has reported financial results for the first quarter ended March 31, 2015.
“We moved past a slow start to show strength at the end of the quarter,” commented Nanophase CEO and President Jess Jankowski. “Our primary challenge was significant fluctuation in our personal care business. Revenue outside of this area was up more than 80% from the prior year, but that wasn’t enough to pick up the slack. The second quarter of 2015 has already seen the first commercial shipment of one of our energy-related products, and we expect more to follow. We have received more orders for surface finishing (polishing) products than we shipped during all of 2014, and will have shipped more product in this area by June 2015 than we did all of last year.”
First Quarter 2015 Financial Highlights
- Revenue for the first quarter was $2.3 million, vs. the $2.6 million reported during the first quarter of 2014.
- The net loss for the quarter was $0.6 million, or a loss of $0.02 per share, compared to a net loss of $0.4 million, or $0.02 per share, for the comparable 2014 quarter.
- The Company finished the quarter with approximately $1.2 million in cash and cash equivalents; the Company has no debt.
Jankowski continued, “Personal care has long held an outsized impact on our overall performance. It is a good business and one that we are committed to, but the impact of quarterly fluctuations here provides support for our goal to develop complementary revenue streams. We continue to expand our business in surface finishing technologies (polishing) applications, and have reached the tip of the commercial iceberg on the new energy products. We are very excited about our prospects.”
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.
First Quarter 2015 Conference Call
The Nanophase conference call, to be hosted by Jess Jankowski, the Company’s President & CEO, is scheduled for April 28, 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 17241220. 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 April 21st 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.
