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Richardson, Texas (April 14, 2005)
Zyvex today announced financial results for
its fiscal 2005 first quarter. The Texas Company continues
its business gains with total revenues for the first quarter
totaling $2.0 million — a 240 percent increase over
the same period in 2004. International sales accounted for
11 percent of the quarter’s revenue.
“I continue to be extremely pleased with the financial
and operational performance of the company during the last
two years,” stated Zyvex CFO Timothy M. Gilmore. “Our
NanoSolve™ Materials and NanoWorks® Tools continue
to drive these positive results, and we are making good progress
in broadening both product lines to continue this growth.”
Founded in 1997, Zyvex reported its first revenues in 2001,
grossing $150,000. Company revenues grew to $1.2 million in
2002, $4.3 million in 2003, and $8.6 million in 2004. International
sales, new to the company during 2004, accounted for 10 percent
of 2004’s revenue. Gilmore anticipates that the company
will achieve cash-flow break-even by Q1 2006, and become bottom-line
profitable by the end of 2006.
The company has customers in the Aerospace/Defense, Healthcare/Medical,
and Electronics/Semiconductor industries. 2004 saw a 225 percent
increase in customers, and a 75 percent increase in partnerships
and alliances.
Zyvex also has numerous key alliances with industry leaders,
including Easton Sports, FEI Company, Frost & Sullivan,
MANCEF, MIT’s Institute for Soldier Nanotechnologies,
and many others.
Zyvex has worldwide sales representation in China, France,
Germany, Italy, Japan, Korea, Malaysia, Poland, Singapore,
Switzerland, Taiwan, Thailand, the United Kingdom, and Vietnam
through alliances with Keithley Instruments, Inc., Caltron,
Pte., and L.O.T.-Oriel.
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