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Notes 2008 Order for DNA/RNA Bioseparation Application
Nanophase Technologies , a technology leader in nanomaterials and advanced nanoengineered products, announced a $1.44 million order from one of the Company's significant market partners in the polishing market. The order increases current order rates for the fourth quarter of 2007 and provides an annual order for 2008 with quarterly quantities.
"It is exciting to see increased market partner traction and customer adoption in this market area", stated Joseph Cross, Nanophase's president and CEO. "The order for 2008 represents more than two times volume and revenue growth over 2007. We continue to believe that the polishing market represents a significant long-term growth opportunity for Nanophase's novel nanomaterial dispersions."
Nanophase also noted receipt of a six-figure order from an existing customer for nanomaterials used in a DNA/RNA bioseparator application for 2008 delivery. Cross noted that the customer's volume for 2008 would be an increase of approximately 50% over the current year. Nanophase anticipates order shipment in the first quarter of 2008.
Cross said the Company's long-term prospects remain positive across its product lines. "Even with the recent revenue slowdown in our architectural coatings business, which we announced several weeks ago, that we believe is due to the current softness in the housing and home improvement markets, revenue in our product categories has increased significantly compared with 2006," explained Cross. "Even architectural coating market sales should end 2007 growing approximately about 50% over 2006. We anticipate the trend of year-over-year revenue growth will continue. I'm sure that general investor uncertainty is one reason Nanophase's shares have been hard-hit in recent weeks. Management believes recent price levels do not reflect our current performance, the company's value, or our long-term prospects."
"Nanophase remains at the nanomaterials forefront with a highly integrated robust commercial technology platform and state-of-the art manufacturing. Since 2004, Nanophase has grown revenues over 30% annually year-over-year and over 40% through the first three quarters of 2007. In the same time period, the Company has grown gross margins from 1.4% of revenue to 29% of revenue year-to-date in 2007. We continue to grow and are confident about our future."
About Nanophase Technologies
Nanophase Technologies Corporation (NANX), http://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 9001:2000 and ISO 14001 facilities. Nanophase delivers commercial quantity and quality nanoparticles, coated nanoparticles, and nanoparticle dispersions in a variety of media. The Company owns or licenses 18 United States and 48 foreign patents and patent applications. Information about Nanophase may be found in the Company's public filings or on its website.
Nanophase notes that customer purchase orders may be modified or cancelled over the order period. 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 risk and uncertainties include 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; and other risks described in the Company's Form 10KQ filed November 7, 2007, and other filings with the Securities and Exchange Commission. 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.
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Nanophase Technologies Corporation
1319 Marquette Drive
Romeoville, IL 60446
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