Business
Research Frontiers Reports Fourth Quarter and Full Year 2019 Financial Results
Management to Host Conference Call at 4:30 p.m. WOODBURY, N.Y., March 12, 2020 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its
About this update from Research Frontiers Incorporated
[{"type":"text","content":"Management to Host Conference Call at 4:30 p.m.\n WOODBURY, N.Y., March 12, 2020 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its fourth quarter and full year ended December 31, 2019. 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, CFODate/Time: Thursday, March 12, 2020 at 4:30PM ETDial-in Information: 1-888-334-5785Questions: Email to [email protected]: Available on Friday, March 13, 2020 for 90 days at www.SmartGlass-IR.com Key Comments: In December 2019, Gauzy celebrated the opening of its second production facility in Stuttgart, Germany to produce SPD-Smart light control film for the entire SPD-SmartGlass industry. New and improved film from this new facility is currently being shipped to customers worldwide. This state-of-the-art facility, with specially designed coating and curing areas, gives Gauzy the capacity to coat over one million square meters of SPD film per year in widths of up to 1.8 meters. In December 2019, Glatic Co. acquired a license from Research Frontiers to produce and sell SPD-SmartGlass smart windows for the South Korean architectural market. The Company’s fee income from licensing activities for the year ended December 31, 2019 was $1,564,024 as compared to $1,488,642 for the year ended December 31, 2018 representing a $75,382 increase between these two periods. This increase in revenues was principally the result of higher royalty income from licensees focused on automotive and architectural markets. Royalty income from the automotive and architectural markets was up over 40% in 2019 compared with 2018.When operations from the Company’s suspended VariGuard business unit are factored out, fee income for 2019 would have been $130,316 (9%) higher than for 2018. The amount of SPD light-control film sold in 2019 reached a twelve-year record high. Expenses increased by $857,168 for the year ended December 31, 2019 to $4,764,029 from $3,906,861 for the year ended December 31, 2018. The Company’s net loss increased by $1,122, 852 to $3,808,978 ($0.13 per common share) for the year ended December 31, 2019 as compared to $2,686,128 ($0.10 per common share) for the year ended December 31, 201...