Nanophase Reports First Quarter 2012 Financial Results
News May 18, 2012
Nanophase Technologies Corporation has reported financial results for the fourth quarter ended March 31, 2012.
Nanophase CEO and President Jess Jankowski commented, “Our 2012 goal is to report a third consecutive year of revenue growth and improve our bottom line. Revenue for the first six months of 2011 was accelerated as customers purchased inventory for manufacture of both personal care and polishing products, and then tapered off during the second half of the year. New products and applications are expanding our customer base, while we continue selling to existing seasonal customers. We believe this expansion will produce more consistency in our 2012 revenue, on a quarterly basis, with acceleration in some areas as the year moves forward.”
First Quarter 2012 Financial Highlights
• Revenue for the quarter was $2.4 million, down slightly when compared to $2.8 million in the first quarter of 2011.
• The net loss for the quarter was $0.8 million, or a loss of $0.04 per share, compared to a net loss of $0.6 million, or $0.03 per share, for the comparable 2011 quarter.
• There is approximately $2.3 million in cash and cash equivalents on the balance sheet; the company has no debt.
Jankowski continued, "Last year we reported 60 percent of our revenues in the first half of the year. We expect this year to be weighted more toward the second half as we grow new business. Our overall strategy is to maintain growth with our existing customers, as we expand into diversified, non-seasonal markets."
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 2012 Conference Call
Nanophase has scheduled its quarterly conference call for May 18, 2012, at 10:00 a.m. CDT (11:00 a.m. EDT). The call will be hosted by Jess Jankowski, president and CEO.
To participate in the conference call, dial 877-312-8776 (for international callers dial 408-774-4007). The conference ID number is 80947196.