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Long-term approach to nanotechnology commercialization is paying off
Zyvex today announced financial results for its fiscal 2005 second quarter. The Texas Company continues to exceed expectations with total revenue for the second quarter of $3.1 million — a 10 percent increase over plan and a 70 percent increase over the same period in 2004. For the first six months of 2005, revenue totaled $5.1 million — a 6 percent increase over plan and a 92 percent increase over the first six months of 2004. International sales accounted for 12 percent of the first six months revenue.
“Our long-term approach to nanotechnology commercialization is paying off,” stated Zyvex CFO Timothy M. Gilmore. “We recorded our second largest quarter in Zyvex’s history.”
“The reasons for our success are simple — we have a well thought-out plan and we execute to that plan daily,” said Zyvex President Thomas A. Cellucci, PhD., MBA. “Our team is comprised of talented and dedicated professionals who are totally focused on providing real-world nanotechnology solutions — today. At the same time, we’re developing new products based on systematic market analysis. We expect to meet or beat our plan for the remainder of the year and generate a substantial order backlog going into 2006.”
Founded in 1997, Zyvex reported its first revenue in 2001, grossing $150,000. Company revenue grew to $1.2 million in 2002, $4.3 million in 2003, and $8.6 million in 2004. Gilmore anticipates that the company will exceed $10 million in revenue during 2005, achieve cash-flow break-even by Q1 2006, and become bottom-line profitable by the end of 2006.
Zyvex recently won an “R&D 100” award for its NanoSolve® materials. The R&D 100 Award provides a mark of excellence known to industry, government, and academia as proof that the product is one of the most innovative ideas of the year.
Zyvex Corporation, based in Richardson, Texas, is the first molecular nanotechnology company. Zyvex’s vision is to be the leading worldwide supplier of tools, products, and services that enable adaptable, affordable, and molecularly precise manufacturing. Zyvex commercializes nanotechnology to address real-world applications with high growth potential. Zyvex carries its scientific breakthroughs into key commercial applications in the area of materials, tools, and structures.
For more information, please visit www.zyvex.com
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