Nanophase announces second quarter results

Nanophase announces second quarter results

Nanophase Technologies announced that second quarter 2006 revenue was approximately USD 2.4 million, representing the highest quarterly revenue in the Company's history. Nanophase's revenues for the first half of 2006 were approximately USD 4.4 million, representing an approximate 20 per cent increase over the first half of 2005. “We continue to expect that 2006 revenue will be materially stronger in the second half of 2006 than it was in the second half of 2005. We base these expectations on growth in architectural and industrial coatings predicated on customer forecasts and orders received” stated Joseph Cross, Nanophase's President and CEO. He went on to say that, with the recent completion of a new reactor and volume dispersion facilities financed by a USD 1.6 million loan from Byk Chemie, Nanophase expected “to see increasing revenue from the industrial coatings market. We also plan to continue introducing new nanomaterials targeted for antimicrobial, catalysts, and coatings applications where we are seeing market pull.”