Total Revenues for the third quarter of 2006 were $0.9 million, compared with $6.6 million for the same period in 2005 when the Company recorded Revenues from the sale of three inkjet printers and from two large technology services and development contracts.
Net Loss was $9.6 million for the third quarter of 2006, compared with $8.6 million for the same period in 2005.
Chairman and CEO Dr. David Fyfe commented: "Although our financial results for the quarter continue to be impacted by the slow-down in discretionary R&D spending in the display industry, we completed a major license deal in September for which we expect to recognize significant revenues in future periods and we have continued to achieve significant improvements in PLED material lifetimes. During the third quarter, we were delighted to see one of our long-term licensees, MicroEmissive Displays, announce that it had raised funding for the construction of a volume manufacturing facility for its PLED microdisplay products. This facility will be located in Germany and is due to commence production in mid-2007."