Nanophase Reports Record First Quarter Results
ROMEOVILLE, Ill., April 23, 2024 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in mineral-based and scientifically-driven health care solutions across beauty and life science categories — with innovations that protect skin from environmental aggressors and aid in medical diagnostics — today announced financial results for the first quarter ended March 31, 2024.
- Jess Jankowski, President and Chief Executive Officer, commented: “We are pleased to have had a successful start to the new year, and a profitable first quarter.
- Our Company’s largest customer is now on the Solésence side of our business as our brand partners are seeing success in the market.
- Net income was $0.9 million for the first quarter, vs. a net loss of $1.2 million for the same period in 2023.
- Nanophase believes that the presentation of results excluding certain items, such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods.