Research Frontiers Reports Fourth Quarter and Full Year 2015 Financial Results

 In News

Research Frontiers Reports Fourth Quarter and Full Year 2015 Financial Results.pdf – PDF File

Research Frontiers Reports Fourth Quarter and Full Year 2015 Financial Results.docx – Word File

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

WOODBURY, N.Y., March 10, 2016 – Research Frontiers Inc. (Nasdaq: REFR) reported its financial results for its fourth quarter and full year ended December 31, 2015. Management will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial and operating results as well as recent developments.

  • Who: Joseph M. Harary, President & CEO, Seth Van Voorhees, CFO
  • Date/Time: Thursday, March 10, 2016, 4:30PM ET
  • Dial-in Information: 1-412-717-9591
  • Questions: Email to Questions@SmartGlass.com by 2:00PM ET on Thursday, March 10, 2016
  • Replay: Available on Thursday, March 10, 2016 for 90 days at SmartGlass-IR.com

Key 2015 Highlights:

  • Revenues increased by more than 25% to $2.0 million in 2015 compared to 2014.
  • All market sectors (automotive, aerospace, architectural, marine and museum) achieved higher revenues in 2015 compared to 2014.
  • Magic Sky Control™ option on new Mercedes-Benz S-Class vehicles in 2015:
    • Full year of revenues from the Magic Sky Control™ option on the new Mercedes-Benz S-Class Coupe.
    • Revenues from the Magic Sky Control™ option on the S-Class Maybach S600 X222 began in spring 2015.
    • Revenues from the Magic Sky Control™ option on the high volume S-Class Long Wheel Base V222 began in late 2015.
  • Three aircraft manufacturers announced SPD-Smart dimmable window products as standard equipment in new or upcoming production aircraft:
    • Honda Aircraft Company: The new HondaJet, with first delivery in December 2015, comes with SPD-Smart electronically dimmable windows as standard equipment on all passenger windows.
    • Textron-Beechcraft will have SPD-Smart electronically dimmable windows as standard equipment on all models of its King Air aircraft:
    • Dassault Aviation: The new Falcon 5X, with first deliveries expected in 2020, will come with SPD-Smart electronically dimmable skylights as standard equipment.
  • Increased interest and use of SPD-Smart dimmable window products in architectural, marine and museum industries.

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.

RESEARCH FRONTIERS INCORPORATED
Consolidated Balance Sheets
December 31, 2015 and 2014

Picture1

RESEARCH FRONTIERS INCORPORATED
Consolidated Statements of Operations
Years ended December 31, 2015, 2014 and 2013

Picture2

See accompanying notes to consolidated financial statements.

RESEARCH FRONTIERS INCORPORATED
Consolidated Statements of Shareholders’ Equity
Years ended December 31, 2015, 2014 and 2013

Picture3

See accompanying notes to consolidated financial statements.

RESEARCH FRONTIERS INCORPORATED
Consolidated Statements of Cash Flows
Years ended December 31, 2015, 2014 and 2013

Picture4

See accompanying notes to consolidated financial statements.

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