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Nanophase Technologies (Nasdaq: NANX), a leader in nanomaterials and advanced nanoengineered products, continues expansion of its direct sales efforts to new potential customers in addition to ongoing work for our valued market partners. "The complementary efforts are designed to maximize the company's opportunities to develop new solutions for an expanding customer base and drive additional sales through existing sales and distribution channels", noted Jess Jankowski, CFO and acting CEO.
"Our new management team is developing and refining Nanophase's strategy to accelerate marketing and applications development", noted Jankowski. "We have some of the top scientists and engineers in the nanotechnology field, capable of developing ready-to-use solutions that provide customers enhanced performance. We continue to pursue new opportunities in architectural and industrial coatings, chemical mechanical polishing for semiconductors and other polishing applications, SPF clothing, and several other new markets. In keeping with our migration to a direct sales model, we are continuing to reorient our sales and marketing team to increase the amount of direct customer contact and implementing a stage-gate process to vet opportunities. We are at a point now where, with the pending addition of a new member to our sales team, we will need to add to our applications development team to keep up with the available opportunities. As we continue down this path, we expect additional customer contact to allow us to tighten our strategy and to increase our hit rate".
Regarding opportunities within our partner base to grow in existing markets, Jankowski explained that although the seasons are changing, "Consumers forget that sun exposure is the same regardless of the weather. People are becoming more aware of the need for year-round sun protection against longer-wavelength UVA rays, which are primarily responsible for skin cancer". One of the company's currently largest-selling products -- zinc oxide for sunscreens that provides broad spectrum UVA and UVB ray protection, is contained in several daily wear sunscreens and cosmetic products.
The fact that the United States Food and Drug Administration is currently preparing rules that would require manufacturers to test and disclose the efficacy of their sunscreen products against both types of ultraviolet rays may also be a demand driver. "We believe this increasing awareness of sun protection could be a very positive long-term trend for Nanophase, as our zinc oxide formulation is not only effective against both types of ultraviolet rays, but is essentially transparent, making it superior to traditional white, opaque zinc oxide".
Jankowski noted that Nanophase continues to maintain a solid revenue base, is operationally lean and has a significant capital reserve with a conservative cash burn rate.
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 9001:2000 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 49 foreign patents and patent applications. Information about Nanophase may be found in the Company’s public filings or on its website.
All numbers in this release are approximate; refer to the financials accompanying the release for details. Earnings per share are stated as fully diluted. 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 10K filed March 14, 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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