Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > ItN Nanovation with ongoing success after first nine months of 2007

Abstract:
• Cooperation agreement with BASF a strategic milestone
• CFM Systems successfully enters market
• Nanocomp PP product line exceeds expectations
• Revenues in Q3 climb to EUR 1.5 million
• Net loss for the period substantially lower in the quarter

ItN Nanovation with ongoing success after first nine months of 2007

Saarbruecken, Germany | Posted on November 29th, 2007

ItN Nanovation AG (ISIN
DE000A0JL461) reached a significant milestone in the first nine
months of 2007, preparing the ground for further boosting its market
success.

In CFM Systems and Nanocomp AF, ItN Nanovation developed two more
product lines to market maturity this year and successfully launched
them within a very short period of time. The general agreement for
Nanocomp AF that was concluded with BASF AG after the end of the
quarter constitutes a significant milestone. The high-performance
nanotechnology-based coating is to be used in the cooling circuit
systems at BASF's plants to stop "crystallisation fouling", i.e. when
dissolved substances are deposited on pipe surfaces. There are also
plans to jointly develop the product line for another industry
sector. International marketing of the CFM Systems product line is
also encountering much success. The first few orders have already
been received.

The Company´s own revenue expectations for the Nanocomp PP product
line were substantially exceeded after only three quarters. Revenues
for the line amounted to around EUR 0.6 million. ItN expects that
another cooperation agreement for this line at the turn of the year
is likely to provide substantial stimuli for further market
development with a more visible impact on revenues. For Nanocat
-ItN´s virtually self-cleaning household oven coatings - a new
composition was developed with production costs that are almost 30%
lower. It is already in use at a production facility of the customer
BSH Bosch Siemens Hausgeräte. ItN instigated the withdrawal of
exclusivity from BSH, which was linked to price reductions, in order
to determine further sales opportunities.

Revenues in the third quarter climbed by around 8% year-on-year to
EUR 1.5 million. This compensated for part of the losses in revenues
suffered during the first six months of the year. Nevertheless,
revenues were still down 12% on the previous year over the nine-month
period at a total of EUR 3.8 million. The net loss before interest
and taxes was significantly reduced in the third quarter to EUR -1.4
million (Q3 2006: EUR -1.7 million). In the nine-month period, EBIT
totalled EUR -4.6 million compared with EUR -3.2 million in the same
period of the previous year.

ItN Nanovation will continue its successful strategy in the launch of
existing products and also develop promising product lines in the
coming quarters. The Management Board is equally confident that ItN
will be able to leverage its existing market potential, as planned.

The full nine-month report is available to download at
http://www.itn-nanovation.com .

####

For more information, please click here

Contacts:
Andreas Kuntz
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 467
E-Mail:

Jochen Hög
Investor & Public Relations Manager
Tel.: +49 (0)681 5001 566
E-Mail:

Copyright © ItN Nanovation

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Announcements

Researchers find new way to control light with electric fields May 25th, 2017

Nanometrics Announces Retirement Plans of CEO Timothy Stultz: Dr. Stultz to Continue as Director May 25th, 2017

Nanomechanics, Inc. to Exhibit at the SEM Conference: Nanoindentation experts will attend and exhibit their instruments at the Conference and Exposition on Experimental and Applied Mechanics in Indianapolis May 25th, 2017

Three-dimensional graphene: Experiment at BESSY II shows that optical properties are tuneable May 24th, 2017

Financial Reports

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 Second Quarter Results April 27th, 2017

Nanometrics to Announce First Quarter Financial Results on May 2, 2017 April 11th, 2017

Harris & Harris Group Issues Its Financial Statements as of December 31, 2016, Posts Its Annual Shareholder Letter, And Will Host a Conference Call for Shareholders on Friday, March 17, 2017 March 15th, 2017

Arrowhead Pharmaceuticals to Webcast Fiscal 2017 First Quarter Results January 31st, 2017

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project