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Richardson, Texas (October 19, 2005)
Zyvex today announced financial results for its fiscal 2005
3rd quarter. The Texas Company continues its business gains
with total revenues for the third quarter totaling $2.6 million
— a 36 percent increase over the same period in 2004.
The company’s NanoSolve® materials product line
revenues increased 183 percent over the same period in 2004.
“Solid execution contributed to another quarter of financial
and operational results,” said Zyvex CFO Timothy M.
Gilmore. “During the month of September, we recorded
our third largest single month of customer orders booked,
as well as net sales recorded.”
“Our NanoSolve Materials product line, which recently
won an R&D 100 award, is receiving considerable interest
from customers around the world,” said Zyvex President
Dr. Tom Cellucci. “Combined with our NanoWorks®
Tools products, we now provide a wide range of solutions for
real-world applications. We expect to meet or beat our plan
for the 4th quarter and generate a substantial order backlog
going into 2006.”
Zyvex also announced that it has signed Coherent Scientific
Pty. Ltd., Inc. as its exclusive distributor for its NanoWorks
Tools and NanoLock™ Structures product lines in Australia
and New Zealand. Coherent Scientific specializes in the marketing,
sale, importation, commissioning and support of laser, microscopes
and other optics related equipment to the physical sciences,
life sciences, commercial, defense and telecommunications
markets.
Zyvex also 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. The company has numerous
key alliances with industry leaders, including Easton Sports,
FEI Company, Frost & Sullivan, and MANCEF, and universities,
including MIT’s Institute for Soldier Nanotechnologies
and the University of Louisville.
Founded in 1997, Zyvex reported its first revenues 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.
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