California Nanotechnologies Announces Q1/FY2022 Results
California Nanotechnologies Corp announced record revenue of $206,370 for Q1 FY2022, marking its largest revenue in history for the quarter, amidst pandemic challenges. EPS remained nil for both Q1 FY2021 and Q1 FY2022. The increase in revenue is attributed to ongoing work with thermoelectric customers and military research labs. The company is preparing for further development, with requests for additional wafer deliveries, positioning itself for strong performance as pandemic recovery progresses.
- Record Q1 revenue of $206,370, highest in company history.
- Continued development with thermoelectric customers and military labs.
- Request for 400 additional wafers indicating strong customer demand.
- EPS remains nil for both Q1 FY2021 and Q1 FY2022.
- Higher professional fees due to annual audit may affect profitability.
Company announces
Company continues progress with Thermoelectrics customer
LOS ANGELES, CA / ACCESSWIRE / August 3, 2021 / California Nanotechnologies Corp. ('Cal Nano' or the 'Company') is pleased to announce that revenue for the quarter ending May 31, 2021 was
The major contributors to the Company's record Q1 revenue were continued development with its thermoelectrics customer along with work from various military research labs. "After positive analysis from the last 50 wafer delivery to our thermoelectric customer, Cal Nano continues to progress on its advanced material program. Additional research and development work and a request for 400 more wafers is moving forward. With our customers continuing to increase their R&D requirements and with the potential for R&D to shift into production requirements, Cal Nano is well positioned to continue with a strong performance with this pandemic recovery" stated CEO Eric Eyerman.
For further information, please contact:
Eric Eyerman, CEO
T: (562)-991-5211
E: info@calnanocorp.com
W: www.calnanocorp.com
Reader Advisory
Except for statements of historical fact, this news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. In particular, forward-looking information in this press release includes, but is not limited to the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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P. 562.991.5211
F. 562.926.6913
SOURCE: California Nanotechnologies Corp
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