Research Frontiers reports third quarter 2017 financial results

Research Frontiers Inc. has announced its financial results for its third quarter

In its third-quarter financial results, Research Frontiers reported an increase in fee income, a decline in expenses, also speaking about the recent non-exclusive license granted to Gaudy to develop, produce and sell products and components using Research Frontiers’ patented SPD-Smart light-control technology.

Research Frontiers Inc. has announced its financial results for its third quarter ended 30 September 2017. Management hosted a conference call to discuss its financial and operating results as well as recent developments, including its recent license agreement with Israel-based material science company Gauzy Ltd. to develop, produce and sell products and components using Research Frontiers’ patented SPD-Smart light-control technology.
  • Who: Joseph M. Harary, President & CEO, Seth Van Voorhees, CFO
  • Date/Time: 2 November 2017, 4:30 PM ET
  • Dial-in Information: 1-412-717-9591
  • Replay: Available on Friday, 3 November 2017 for 90 days at www.SmartGlass-IR.com
Key Third Quarter 2017 Comments include: Fee income increased by USD 271,294, or 28.3%, for the 9-month period ending 30 September 2017 as compared to the same period in 2016. Fee income increased by USD 183,564, or 60.2%, for the 3-month period ending 30 September 2017 as compared to the same period in 2016.
The increase in fee income from both the 3-month and 9-month periods was principally the result of higher revenues from licensees in the aircraft, architectural, automotive and marine sectors as well as revenue from a new licensee focused on the transparent display sector.
       Expenses declined by USD 857,756, or -22.4%, for the 9-month period ending 30 September 2017 as compared to the same period in 2016. Expenses for the 3-month period ending 30 September 2017 were USD 78,248, or -9.0%, lower for the 3-month period ending 30 September 2017 as compared to the same period in 2016.
       On 11 October 2017, Research Frontiers and Gauzy Ltd. announced that Gauzy has acquired a non-exclusive license from Research Frontiers to develop, produce and sell products and components using Research Frontiers’ patented SPD-Smart light-control technology.
       Gauzy noted the rapid expansion of their business based upon its constant focus on bringing the best-performing and most innovative technology-based products to its customers, and that the introduction of SPD-Smart light-control technology to its product line will help us to continue and accelerate this rapid growth. Gauzy’s CEO noted the clear and significant synergies specifically between Gauzy’s LCG® (Liquid Crystal Glass) technology and Research Frontiers’ SPD-SmartGlass light control technology, and the general synergies between the two companies and their worldwide businesses.
       Research Frontiers noted the work that they have been doing with Gauzy over the past ten months, and that its results-based culture, and Gauzy’s established and growing network of over 50 glass fabricators worldwide brings additional synergies, infrastructure, and growth opportunities. Because these companies have already been trained and certified in working with Gauzy’s PDLC film product, they should have the ability and experience to quickly incorporate SPD-Smart technology, which is also a film-based technology with similar handling, lamination, and other fabrication characteristics.
Research Frontiers is the developer of SPD-Smart light-control technology which allows users to instantly, precisely and uniformly control the shading of glass or plastic, either manually or automatically. Research Frontiers has built an infrastructure of over 40 licensed companies that collectively are capable of serving the growing global demand for smart glass products in automobiles, homes, buildings, museums, aircraft and boats.