CERRITOS, CA, Dec. 20, 2013 /CNW/ - California Nanotechnologies ("Cal Nano") is pleased to announce that revenues for the third quarter of 2013 increased 253% over the same period in 2012. "While this increase in revenue from $22,434 US ( $23,780 CDN) in the third quarter of 2012 to $79,174 US ( $83,862 CDN) in the third quarter of 2013 was primarily due to continuing long-term research and development programs at Cal Nano, the transition from development efforts to ongoing revenues is a critical milestone that the company has been focused on for many years," stated Christopher Melnyk, CEO. "In this regard, the company has made significant progress with a new customer in the oil and gas service business, receiving approximately $49,343 ( $52,256 CDN) worth of purchase orders in the last three months, including $28,611 US ( $30,300 CDN) on December 18, 2013. This project could lead to an important technological advance in the oil and gas industry and is slated to continue for the next several months. The company is prepared to add new production resources to meet this customer's growing requirements".
The company is also pleased to announce that it has delivered the initial nano composite components to adidas as mentioned in a press release of November 7, 2013. The company is focused on completing this $89,850 US ( $95,155 CDN) order in January 2014.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risk and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV