Research Frontiers Reports Second Quarter 2017 Financial Results

Management to Host Conference Call at 4:30 p.m.

2Q2017 Financial Results doc

2Q2017 Financial Results pdf

WOODBURY, N.Y., August 3, 2017 – Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its second quarter ended June 30, 2017. Management will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial and operating results as well as the recent announcement by ONE Aviation regarding its selection of the ALTEOS electronically dimmable window (EDW) by PPG using SPD-SmartGlass technology for its new Eclipse 700 aircraft.

  • Who: Joseph M. Harary, President & CEO, Seth Van Voorhees, CFO
  • Date/Time: August 3, 2017, 4:30 PM ET
  • Dial-in Information: 1-412-717-9591
  • Replay: Available on Friday, August 4, 2017 for 90 days at SmartGlass-IR.com

Key Second Quarter 2017 Comments:

  1. Global aircraft manufacturer ONE Aviation has announced the selection of the ALTEOS electronically dimmable window (EDW) by PPG using SPD-SmartGlass technology for its new Eclipse 700 aircraft. This is the first announced project from the partnership between PPG and Research Frontiers’ licensee Vision Systems that was announced in May of this year.
  2. The Company’s fee income from licensing activities for the six months ended June 30, 2017 was $741,295 as compared to $653,564 for the six months ended June 30, 2016 representing a $87,731 increase between these two periods. This increase 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.

The Company expects that lower pricing of the Company’s technology could expand the market opportunities, adoption rates, and revenues for its technology in automotive and non-automotive applications. The Company is working with all levels of licensees in the supply chain to further reduce the cost of final products using the Company’s technology.

Operating expenses decreased by $279,060 for the six months ended June 30, 2017 to $1,773,036 from $2,052,096 for the six months ended June 30, 2016. This decrease was principally the result of lower patent and patent litigation costs as well as lower payroll and related costs and lower investor relations and marketing costs.

Research and development expenditures decreased by $500,446 to $413,343 for the six months ended June 30, 2017 from $913,789 for the six months ended June 30, 2016. This decrease was principally the result of lower payroll costs.

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. For more information, please visit our website at www.SmartGlass.com, and on Facebook, Twitter, LinkedIn and YouTube.

CONTACT:

Seth L. Van Voorhees

Chief Financial Officer

Research Frontiers Inc.

+1-516-364-1902

Info@SmartGlass.com

Note: From time to time Research Frontiers may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements. Actual results could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. “SPD-Smart” and “SPD-SmartGlass” are trademarks of Research Frontiers Inc. ALTEOS is a trademark of PPG.

 

 

 

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