Nanophase Technologies Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 04:08 pm EST
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Nanophase Technologies Corporation reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 9.68 million compared to USD 7.92 million a year ago. Net loss was USD 0.75 million compared to net income of USD 1.36 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to diluted earnings per share from continuing operations of USD 0.03 a year ago.
For the nine months, revenue was USD 29.06 million compared to USD 22.11 million a year ago. Net loss was USD 0.638 million compared to net income of USD 2.71 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.06 a year ago.
Nanophase Technologies Corporation is engaged in minerals-based and scientifically driven healthcare solutions across beauty and life science categories. The Company offers soup-to-nuts production, from engineered materials, formulation development, and finished product development, to commercial manufacturing and packaging capabilities. Its capabilities in materials engineering allow it to coat and disperse materials on a nano and non-nano scale for use in a variety of markets in skin health, including for use in sunscreens as active pharmaceutical ingredients (APIs) and as fully developed skincare products, marketed and sold through its wholly owned subsidiary, Solesence, LLC. The Company manufactures and supplies metric tons of surface-engineered zinc oxide and titanium dioxide to its customers, and these are used by major global consumer products companies for sunscreens and skin health-focused personal care products. It also manufactures and sells advanced nanoparticle materials.