In the third quarter, we should have had an acceleration of revenues, based upon both the SL and the SLK sales revenues. In prior quarters, the revenue was primarily from the SLK sales.
So it was disappointing to read that revenues for the third quarter were only 471 k in fee income. The second quarter revenue was 450 k. That is not much of an increase from the SL, even though SL sales increased for Mercedes. Most notably, the sales revenue for the first quarter this year was 482 k.
And, to top it off, expenses for employee compensation rose significantly this quarter.
REFR has a lot of explaining to do at its conference call. Things are not as rosy as portrayed, it seems, from the Mercedes sales. Unless another OEM comes online, sales will continue to disappoint.
And why can't we crack into the window market for buildings? Won't costs ever come down?
Does anyone know the cost of an SPD airplane window versus the Gentex window used by Boeing? Does anyone know the cost of an SPD building window compared to the one being built for Sage?