The Company reported a net profit of $10.2 million for the fourth quarter, including an overall gain of $15.9 million from the sale, in two tranches, of its shares in Litrex, its former subsidiary. For the full year the loss was $13.8 million, a decrease of $8.8 million, or 39%, compared with the 2004 loss (before the cumulative effect of accounting change) of $22.6 million.
Highlights for 2005:
- Reported revenues of $18.1 million for the year, an increase of 36% from 2004
- Successful sale of remaining equity in Litrex Corporation to Ulvac of Japan.
- Formation of Sumation⢠- 50/50 JV with Sumitomo Chemical of Japan incorporating Dow Chemical P-OLED IP acquired by Sumitomo and licensed by Sumitomo to the JV
- New revenue streams established through distribution of Litrex ink jet printers and sales of materials
- Strong progress in materials development
Posted: Mar 13,2006 by Ron Mertens
