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Richardson, Texas (July 12, 2005)
Zyvex today announced financial results for
its fiscal 2005 second quarter. The Texas Company continues
to exceed expectations with total revenue for the second quarter
of $3.1 million — a 10 percent increase over plan and
a 70 percent increase over the same period in 2004. For the
first six months of 2005, revenue totaled $5.1 million —
a 6 percent increase over plan and a 92 percent increase over
the first six months of 2004. International sales accounted
for 12 percent of the first six months revenue.
“Our long-term approach to nanotechnology commercialization
is paying off,” stated Zyvex CFO Timothy M. Gilmore.
“We recorded our second largest quarter in Zyvex’s
history.”
“The reasons for our success are simple
— we have a well thought-out plan and we execute to
that plan daily,” said Zyvex President Thomas A. Cellucci,
PhD., MBA. “Our team is comprised of talented and dedicated
professionals who are totally focused on providing real-world
nanotechnology solutions — today. At the same time,
we’re developing new products based on systematic market
analysis. We expect to meet or beat our plan for the remainder
of the year and generate a substantial order backlog going
into 2006.”
Founded in 1997, Zyvex reported its first revenue in 2001,
grossing $150,000. Company revenue grew to $1.2 million in
2002, $4.3 million in 2003, and $8.6 million in 2004. Gilmore
anticipates that the company will exceed $10 million in revenue
during 2005, achieve cash-flow break-even by Q1 2006, and
become bottom-line profitable by the end of 2006.
Zyvex recently won an “R&D 100” award for
its NanoSolve® materials. The R&D 100 Award provides
a mark of excellence known to industry, government, and academia
as proof that the product is one of the most innovative ideas
of the year.
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