U.S. Markets closed

Mikuni Corporation (7247.T)

Tokyo - Tokyo Delayed Price. Currency in JPY
Add to watchlist
276.00+1.00 (+0.36%)
At close: 3:15PM JST
Full screen
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close275.00
Open277.00
Bid274.00 x 0
Ask276.00 x 0
Day's Range272.00 - 277.00
52 Week Range201.00 - 383.00
Volume29,000
Avg. Volume29,190
Market Cap9.29B
Beta (5Y Monthly)1.45
PE Ratio (TTM)N/A
EPS (TTM)-143.53
Earnings DateAug 07, 2020
Forward Dividend & Yield10.00 (3.62%)
Ex-Dividend DateMar 30, 2020
1y Target Est860.00
  • GlobeNewswire

    Nanophase Reports Record Second Quarter 2020 Financial Results

    Announces 32% Growth for Quarter, 20% Year-Over-Year, Doubling of Formulated Product Sales and YTD ProfitabilityROMEOVILLE, Ill., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in minerals-based personal care ingredients and formulated products for protecting skin from environmental aggressors, such as UV light and pollution, today reported financial results for the first quarter and six-month periods ended June 30, 2020.  “The current environment we are working through has offered opportunity along with the health challenges we all share. We have grown our Solésence business rapidly and, driven by Covid-19-related applications, our medical diagnostics materials are selling at a record pace. Looking at our three key business areas over the six month period, we have seen our Solésence and Advanced Materials businesses grow significantly, offset by a reduction in our Personal Care Ingredients business due to soft demand for sunscreens, which we believe to be influenced by the global reaction to Covid-19,” commented Jess Jankowski, President and CEO. Second Quarter and YTD 2020 Financial Highlights * Revenue for the second quarter was $4.3 million, vs. $3.3 million for the same period in 2019. Revenue for the six-month period was $8.4 million vs. $7.0 million for the same period in 2019.For the six-month period of 2020:\- Solésence revenue was $2.8 million, up 120% from $1.3 million in 2019 \- Advanced Materials revenue was $2.1 million, up 31% from $1.6 million in 2019 \- Personal Care Ingredients revenue was $3.4 million, down 17% from $4.1 million in 2019 * Net income for the quarter was $0.5 million in 2020, or $0.01 per share, compared to a net loss of $0.6 million, or $0.02 per share, for 2019. Net income for the six-month period was $0.4 million in 2020, or $0.01 per share, compared to a net loss of $1.2 million, or $0.03 per share, for 2019. We note that the PPP funding we received in the second quarter of 2020 is recorded on the balance sheet as a liability and has not had any impact on our income statement to date. * The Company finished the quarter with approximately $1.8 million in cash and cash equivalents.Jankowski continued, ”The growth we are seeing in our Solésence business is exciting. Six clients make up 90% of the $2.8 million in first half revenue, with our two largest Solesence clients expected to exceed $1 million in revenue this year. Our Advanced Materials business has seen growth driven by the current expanded medical testing requirements related to the Covid-19 pandemic. Our material is used in a testing regime that is applicable to identifying a series of viruses, and while not predictable going forward, we believe this business will remain strong, even if not at current levels.” Jankowski continued, “In terms of our expectations through 2020, we have reasonable visibility through November. We are expecting second half volume to remain strong compared to last year, driven by the continued expansion of our Solésence business and demand for our medical diagnostics materials, offset by diminished Personal Care Ingredients sales, which we believe has been impacted by both the Covid-19 pandemic and typical North American seasonality.“Looking at our gross profits and bottom line growth, we can see the results of the operational and strategic changes we’ve made to our organization to reduce costs and increase efficiency. We expect these efforts to continue to improve our profitability over the next year.“We continue to operate as an essential service, with our main concern being to protect our employees, their families, and our community during this disruption,” added Jankowski. “We continue to take necessary precautions, while manufacturing products that are critical to global Covid-19 testing, as well as skin health. We are both honored and proud to be able to contribute to our national public health, economic security, and safety through the materials we make for use in medical diagnostics.” Use of Non-GAAP Financial Information 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. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with generally accepted accounting principles.About Nanophase Technologies Nanophase Technologies Corporation (NANX), www.nanophase.com, is a leader in minerals-based personal care ingredients and formulated products for protecting skin from environmental aggressors, such as UV light and pollution, as well as providing solutions for medical diagnostic and industrial product applications. Using a platform of patented and proprietary integrated technologies, the Company creates products with unique performance attributes from two ISO 9001 and ISO 14001 registered facilities. Nanophase delivers commercial quantity and quality engineered materials both as ingredients, and as part of fully formulated products, in a variety of formats. Forward-Looking Statements This press release contains words such as “expects,”” shall,” “will,” “believes,” and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company’s current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company’s results of operations, performance and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company’s dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company’s nanocrystalline materials; the Company’s manufacturing capacity and product mix flexibility in light of customer demand; the Company’s limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company’s dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company’s Form 10-K filed March 30, 2020. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies. NANOPHASE TECHNOLOGIES CORPORATION          CONSOLIDATED BALANCE SHEETS  (Unaudited Consolidated Condensed)                     June 30, December 31,  ASSETS 2020   2019           Current assets:      Cash and cash equivalents$1,773,322  $1,193,994    Trade accounts receivable, less allowance for doubtful accounts       of $9,000 on June 30, 2020 and on December 31, 2019 2,210,108   970,472    Inventories, net 2,457,441   2,553,620    Prepaid expenses and other current assets 560,792   266,587     Total current assets 7,001,663   4,984,673            Equipment and leasehold improvements, net 2,362,119   2,255,158    Operating lease right-of-use assets 2,003,839   2,118,883    Other assets, net 11,406   12,528      $11,379,027  $9,371,242           LIABILITIES AND STOCKHOLDERS' EQUITY     Current liabilities:      Line of credit, bank$500,000  $500,000    Line of credit, related party 1,488,759   223,871    Current portion of long-term debt, related party 500,000   500,000    Current portion of finance lease obligations 195,728   218,345    Current portion of operating lease obligations 392,690   356,949    Accounts payable 1,319,764   1,748,021    Current portion of deferred revenue 304,595   482,349    Accrued expenses 506,925   379,314     Total current liabilities 5,208,461   4,408,849            Long-term portion of finance lease obligations 194,179   287,660    Long-term portion of operating lease obligations 1,876,201   2,034,592    Long-term convertible loan, related party 963,467   829,721    PPP SBA Loan 951,600   -    Long-term portion of deferred revenue -   92,750    Asset retirement obligations 210,238   206,221     Total long-term liabilities 4,195,685   3,450,944                   Stockholders' equity:      Preferred stock, $.01 par value, 24,088 shares authorized and       no shares issued and outstanding -   -    Common stock, $.01 par value, 55,000,000 shares authorized; 38,136,792 and 33,911,792       shares issued and outstanding on June 30, 2020 and December 31, 2019, respectively 381,368   381,368    Additional paid-in capital 101,984,959   101,886,411    Accumulated deficit (100,391,446)  (100,756,330)    Total stockholders' equity 1,974,881   1,511,449      $11,379,027  $9,371,242           NANOPHASE TECHNOLOGIES CORPORATION                 CONSOLIDATED STATEMENTS OF OPERATIONS  (Unaudited Consolidated Condensed)                       Three months ended Six months ended        June 30, June 30,         2020  2019   2020  2019   Revenue:             Product revenue, net  $4,141,090 $3,257,175  $8,102,578 $6,753,908    Other revenue   194,321  36,310   272,230  294,708     Net revenue   4,335,411  3,293,485   8,374,808  7,048,616                  Operating expense:            Cost of revenue   2,624,174  2,462,062   5,629,020  5,332,723     Gross profit   1,711,237  831,423   2,745,788  1,715,893                   Research and development expense   358,294  485,321   730,904  961,848    Selling, general and administrative expense  698,199  943,571   1,403,807  1,821,054   Income/(Loss) from operations   654,744  (597,469)  611,077  (1,067,009)  Interest income   -  -   -  -   Interest expense   122,403  50,039   246,193  93,143   Other, net    -  -   -  -   Income/(Loss) before provision for income taxes  532,341  (647,508)  364,884  (1,160,152)  Provision for income taxes   -  -   -  -   Net income/(loss)  $532,341 $(647,508) $364,884 $(1,160,152)                                Net income/(loss) per basic shares  $0.01 $(0.02) $0.01 $(0.03)                 Weighted average number of basic common            shares outstanding   36,136,792  36,136,759   36,136,792  35,030,422                                                               NANOPHASE TECHNOLOGIES CORPORATION                 CONSOLIDATED STATEMENTS OF OPERATIONS - EXPANDED SCHEDULE  (Unaudited Consolidated Condensed)                       Three months ended Six months ended        June 30, June 30,         2020  2019   2020  2019   Revenue:             Product revenue, net  $4,141,090 $3,257,175  $8,102,578 $6,753,908    Other revenue   194,321  36,310   272,230  294,708     Net revenue   4,335,411  3,293,485   8,374,808  7,048,616                  Operating expense:            Cost of revenue detail:            Depreciation   72,862  60,396   144,006  119,882    Non-Cash equity compensation   9,007  12,280   18,660  20,312    Other costs of revenue   2,542,305  2,389,386   5,466,354  5,192,529     Cost of revenue   2,624,174  2,462,062   5,629,020  5,332,723      Gross profit   1,711,237  831,423   2,745,788  1,715,893                   Research and development expense detail:           Depreciation   10,499  12,444   21,176  24,449    Non-Cash equity compensation   14,274  11,979   28,867  26,392    Other research and development expense   333,521  460,898   680,861  911,007     Research and development expense   358,294  485,321   730,904  961,848                   Selling, general and administrative expense detail:          Depreciation and amortization   5,034  5,350   10,154  10,789    Non-Cash equity compensation   23,734  33,907   51,021  68,668    Other selling, general and administrative expense 669,431  904,314   1,342,632  1,741,597     Selling, general and administrative expense 698,199  943,571   1,403,807  1,821,054   Income/(Loss) from operations   654,744  (597,469)  611,077  (1,067,009)  Interest income   -  -       Interest expense   122,403  50,039   246,193  93,143   Other, net    -  -       Income/(Loss) before provision for income taxes  532,341  (647,508)  364,884  (1,160,152)  Provision for income taxes   -  -   -  -   Net income/(loss)  $532,341 $(647,508) $364,884 $(1,160,152)                 Non-GAAP Disclosure (see note regarding Non-GAAP disclosures):         Addback Interest, net   122,403  50,039   246,193  93,143    Addback Depreciation/Amortization   88,395  78,190   175,336  155,120    Addback Non-Cash Equity Compensation   47,015  58,166   98,548  115,372                   Adjusted EBITDA  $790,154 $(461,113) $884,961 $(796,517)                 COMPANY CONTACT Investor Relations 630-771-6700